Aldar Properties and Mubadala, both based in Abu Dhabi, are teaming up to develop ADGM Office Tower, a 37-story office tower in the Abu Dhabi Global Market financial district.
The joint venture will own 60% of the 63,000 square meter property, with Aldar owning the majority stake and Mubadala holding the remaining 40%.
The ADGM Office Tower project, which is the first for the joint venture, is expected to be completed by the end of 2026 and will be managed by Aldar Investment. Jassem Saleh Busaibe, CEO of Aldar Investment, said that the demand for high-quality office space on Al Maryah Island, where ADGM is located, is significant.
“Through a phased approach, the joint venture will continue to increase the supply of prime office space on the island to ensure the ADGM freezone grows from strength to strength as a financial centre of global significance”.
“The first project enables us to take the necessary steps to satisfy the current pent-up demand, with plans for more to come.”