Aldar Properties PJSC (Aldar), a prominent UAE-based real estate developer, investor, and asset manager, has announced plans to develop a Grade A office tower adjacent to the Dubai International Financial Centre (DIFC) on Sheikh Zayed Road. This landmark project will feature 88,000 square meters of net leasable area (NLA), including a luxury boutique hotel and branded residences, providing top-tier commercial space along with high-end hospitality and dining options.
This prime development, located on one of the final remaining undeveloped double plots in the area, aims for high sustainability standards and will offer seamless connectivity to Dubai’s major transport links. It is within walking distance of the Emirates Towers Metro Station and is expected to be completed by Q4 2027. This announcement marks Aldar’s first commercial development in Dubai and follows its 2023 plans to develop new commercial assets in key locations across Abu Dhabi. Talal Al Dhiyebi, Aldar’s Group Chief Executive Officer, highlighted Dubai as a priority growth market, expressing excitement about the iconic commercial property near one of the UAE’s major business hubs.
This project aims to meet the rising demand from new market participants and businesses looking to relocate. In addition to this development, Aldar has signed an agreement to acquire ‘6 Falak,’ a newly built Grade A office building in Dubai Internet City (DIC) from Sweid & Sweid. Completed in March 2024, this 9,100 sqm NLA building is fully occupied by blue-chip tenants such as Roland Berger, Merck, and IFS. The transaction is set to complete soon, pending final authority approvals. With a total investment of AED 1.8 billion, these strategic moves broaden Aldar’s presence in Dubai across key sectors, aligning with its strategy to provide premium office spaces in major business districts.
Aldar’s commercial portfolio has significantly expanded over the past two years, now comprising 13 operational assets with a total NLA of over 465,000 sqm and an occupancy rate of 97%.
Original source: ALDAR LAUNCHES ICONIC OFFICE TOWER ON SHEIKH ZAYED ROAD AS PART OF DUBAI COMMERCIAL REAL ESTATE STRATEGY | Aldar
