Aldar Properties will build a Grade A office tower in a prime Dubai location on Sheikh Zayed Road, adjacent to the Dubai International Financial Centre (DIFC). This will be the company’s inaugural commercial development in the Emirate, following recent residential projects that have sold out.
The Abu Dhabi-based property firm has also announced that it will acquire ‘6 Falak’, a newly constructed Grade A office building in Dubai Internet City (DIC), from Sweid & Sweid.
Aldar’s Expansion in Dubai
These investments, amounting to AED 1.8B ($490M), will enhance Aldar’s presence in Dubai and provide premium office spaces in key business districts.
The new SZR development will be located on a prime freehold plot—one of the last available ‘double’ plots in the area. It will feature a Grade A office tower with a net leasable area (NLA) of 88,000 sqm, and will also include a luxury boutique hotel and branded residences, offering high-quality commercial space as well as well-placed hospitality and dining options.
The development, expected to be completed by Q4 2027, will offer excellent connectivity to Dubai’s major transport links, being within walking distance of the Emirates Towers Metro Station.
6 Falak, completed in March 2024, is a high-quality asset in DIC with 9,100 sqm of NLA. The fully occupied property, one of the last freehold plots in the area, houses several prominent tenants, including Roland Berger, Merck, and IFS.
The transaction is anticipated to complete in the coming weeks, pending final approvals.
Talal Al Dhiyebi, Group Chief Executive Officer of Aldar, stated: “Dubai is a key growth market for Aldar, and we will continue to expand our presence across essential real estate sectors.
“Encouraged by the progress we have made in the residential and logistics sectors in the emirate, we are eager to develop what will be a landmark commercial property next to one of the UAE’s primary business hubs. This project will not only showcase our development expertise but also provide the commercial space required to meet the increasing demand from new market entrants and existing businesses looking to relocate.”
These investments represent a significant step in Aldar’s expansion strategy, marking its first commercial property investment outside Abu Dhabi. Aldar’s commercial portfolio has significantly grown over the past two years and now includes 13 operational assets with a total NLA of over 465,000 sqm and an occupancy rate of 97 percent.
