Aldar has announced the acquisition of a range of warehousing and light industrial real estate assets at ALMARKAZ Industrial Park in Abu Dhabi’s Al Dhafra region. The AED530 million ($144.3 million) deal sees Aldar purchase the portfolio from Waha, adding 182,500 sqm of net leasable area (NLA) to its income-generating logistics portfolio.
Situated within a 6 million sqm industrial development, ALMARKAZ is a flagship business and logistics hub built by Waha Land, a fully owned subsidiary of Waha Capital. The site is designated as a special economic zone and benefits from strong infrastructure and proximity to regional trade routes.
This latest acquisition contributes to Aldar’s expanding logistics portfolio and marks a continuation of its strategy to grow and diversify its recurring income. ALMARKAZ’s assets are nearly fully let and host a diverse mix of tenants, including regional, international, and government-linked firms. The flexible layout of the facilities allows tenants to choose between varying unit sizes and ceiling heights, creating a modular environment suited to a range of logistics operations.
Jassem Salah Busaibe, CEO of Aldar Investment, said: “The acquisition of assets at ALMARKAZ from Waha is another step in Aldar’s ongoing expansion within the UAE’s logistics sector, aligning with our strategy to scale and diversify our recurring income streams. Our logistics platform continues to grow across Abu Dhabi and Dubai, capitalising on demand for well-located premium logistics and industrial space, and the assets at ALMARKAZ provide well-established and high-quality warehousing with strong fundamentals and growth potential.”
Aldar’s logistics footprint includes the Abu Dhabi Business Hub and 7 Central at Dubai Investments Park, both secured in 2024. The group is also progressing developments in Dubai South and has teamed up with DP World to create a 146,000 sqm logistics park at National Industries Park in Jebel Ali.
This deal also represents a significant moment for Waha Capital. It marks the culmination of over ten years of development at ALMARKAZ, a site originally granted by the Abu Dhabi Government. Waha Land transformed the greenfield plot into a fully operational industrial zone and logistics hub, playing a key role in advancing the Emirate’s economic diversification goals.
Mohamed Hussain Al Nowais, Managing Director of Waha Capital, commented: “Waha Capital is proud to have supported Waha Land’s transformation of ALMARKAZ into a key pillar of Abu Dhabi’s logistics and industrial landscape. Over more than a decade, our backing has enabled the creation of a high-quality, income-generating platform that directly contributes to the diversification of the Emirate’s economy. This transaction is a testament to the strength and scalability of the platform we have built, and to our commitment to long-term value creation across our portfolio. We are pleased to collaborate with Aldar on this milestone as we continue to unlock value and deliver strong returns for our shareholders.”
Looking ahead, the acquisition leaves room for further joint development between Aldar and Waha at the ALMARKAZ site, as both parties explore future expansion in response to the growing regional demand for logistics capacity driven by e-commerce, population growth, and increased intra-regional trade.
