Aldar Accelerates UAE Logistics Push with AED 530 Million Deal

Aldar Properties has acquired warehousing and light industrial assets in Al Dhafra’s ALMARKAZ Industrial Park from Waha Capital for AED 530 million, adding 182,500 m² of net leasable area to its logistics platform.

The assets, comprising 17 buildings across five land parcels within the freehold industrial hub, are near-full occupied by a mix of international, regional and government-related tenants. ALMARKAZ spans 6 million m² and enjoys special economic zone status, with high‑quality infrastructure and modular buildings adaptable to diverse tenant requirements.

Aldar’s logistics gross leasable area now exceeds 600,000 m², bolstered by recent acquisitions such as Abu Dhabi Business Hub and 7 Central in Dubai Investments Park, alongside ongoing developments in Dubai South and the DP World‑backed Jebel Ali National Industries Park. The move aligns with the firm’s strategy to scale up recurring income-generating assets and address growing demand driven by regional trade, e‑commerce growth and lively population centres.

Jassem Salah Busaibe, CEO of Aldar Investment, described the deal as a key step in expanding its logistics footprint across Abu Dhabi and Dubai. He emphasised the strong fundamentals, premium build quality and growth potential of the acquired ALMARKAZ assets. On the seller’s side, Mohamed Hussain Al Nowais, Managing Director of Waha Capital, noted that the sale underscores a decade-long transformation of greenfield land into a thriving logistics and industrial hub, marking it as a strategic milestone.

EY experts on Middle Eastern industrial real estate note that logistics demand in the UAE has surged as businesses prioritise Grade‑A space close to transport links and economic hubs. ALMARKAZ’s proximity to major roads, sea and emerging rail corridors positions it well to capture tenant demand for flexible, modular warehousing solutions.

Real estate analysts tracking ADX-listed Aldar highlight the AED 530 million investment as evidence of the company executing on its AED 1 billion logistics expansion plan announced in early 2024. They point to its diversified asset base—from retail to residential and industrial—and commend its strengthening recurring income mix, which mitigates volatility in property cycles.

Waha Capital, since 1997 an Abu Dhabi-listed investment group with interests spanning infrastructure, aircraft leasing, healthcare and industrial real estate, developed ALMARKAZ through its Waha Land subsidiary over the past decade. The disposal enables it to crystallise value from its greenfield-to-operational strategy, freeing capital for reinvestment in core sectors.

Logistics sector specialists suggest this deal may be followed by further collaborations between Aldar and Waha, including potential joint projects within ALMARKAZ, leveraging the asset flexibility and strategic build quality noted by both companies.

The acquisition also contributes to Abu Dhabi’s economic diversification goals by enhancing the emirate’s industrial infrastructure. Officials in commercial real estate administration view special economic zones like ALMARKAZ as central nodes in boosting intra‑regional trade, advancing e‑commerce capabilities and improving supply chain resilience amid global uncertainty.

Market watchers anticipate Aldar will continue to expand its logistics holdings, combining outright acquisitions with develop‑to‑lease and build‑to‑suit offerings, targeting tenants in FMCG, pharmaceuticals, third‑party logistics and government services. These segments increasingly demand high‑grade facilities with scalable footprints—an area Aldar appears well equipped to serve.