Aldar Properties PJSC (Aldar), a leading real estate developer, investor, and asset manager in the UAE, recently announced its plans to develop and launch an iconic Grade A office tower development on Sheikh Zayed Road, beside the Dubai International Financial Centre (DIFC).
According to Industry sources, this landmark development features a Grade A office tower with a net leasable area (NLA) of 88,000 sqm, which comprises a luxury boutique hotel and branded residences, offering guests both high-quality commercial space and extremely well-located hospitality and F&B options.
Industry sources added that situated on a prime freehold plot – and one of the last remaining undeveloped ‘double’ plots in the area – Aldar’s prime Grade A tower will host a high quality, best-in-class office space targeting high sustainability credentials. The development, which is poised to be completed by Q4 2027, will also offer seamless connectivity to Dubai’s major transport links, being within walking distance of the Emirates Towers Metro Station.
Talal Al Dhiyebi, Group Chief Executive Officer of Aldar, commented: “Dubai is a priority growth market for Aldar, and we will continue to increase our presence across key real estate asset classes. Buoyed by the progress we have made in the emirate’s residential and logistics sectors, we are excited to develop an iconic commercial property adjacent to one of the UAE’s key business centres. Through this project, we are bringing our development expertise to bear and providing the commercial space needed to cater to the growing demand from new market entrants and incumbent businesses eager to relocate.”
Industry sources further confirmed that marking its first commercial development in the Emirate, this announcement follows plans Aldar announced in 2023 to develop new commercial assets across three key destinations in Abu Dhabi as it caters to the growing demand from regional and international blue-chip tenants across the UAE.
Industry sources further affirmed that aligned with its diversification strategy, Aldar has additionally signed an agreement to acquire ‘6 Falak’, a newly built Grade A office building located in Dubai Internet City (DIC) from Sweid & Sweid. The building, completed in March 2024, is one of the highest-quality assets in DIC boasting 9,100 sqm of NLA. The fully occupied property is one of the last freehold plots in the area and is currently home to several blue-chip tenants including Roland Berger, Merck, and IFS. The transaction is poised to be accomplished in the coming weeks subject to final authority approvals.
