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- July 25, 2024
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Aldar Properties Unveils Iconic Grade A Office Tower Project on Sheikh Zayed Road
in AED 1.8 billion Dubai expansion plan, this tower by Aldar will also include a luxury boutique hotel and branded residences and will be completed by Q4 2027
Aldar Properties, a leading real estate developer in the UAE, has announced an ambitious new project: a Grade A office tower on Sheikh Zayed Road, spanning 88,000 square meters of net leasable area. This landmark development will also include a luxury boutique hotel and branded residences, offering occupants unparalleled commercial space and premium hospitality.
Prime Location and Superior Connectivity
Strategically located on one of the last remaining undeveloped ‘double’ plots in the area, the Grade A tower will be a centerpiece of modern architecture and sustainability. Positioned between the iconic historic and modern districts of Dubai, the development offers direct access to Dubai’s key transportation networks, including the Emirates Towers Metro Station, just a short walk away. This prime freehold site is set to become a hub of business activity, seamlessly blending work, leisure, and luxury.
Commitment to Sustainability and Quality
The new office tower will adhere to the highest standards of sustainability, reflecting Aldar’s commitment to environmental responsibility. The project, scheduled for completion by Q4 2027, will feature cutting-edge sustainable design and technology, setting a new benchmark for commercial properties in the region.
A Milestone in Aldar’s Expansion Strategy
This project marks Aldar’s first commercial property investment outside of Abu Dhabi, signifying a major milestone in its expansion strategy. Earlier this year, Aldar announced a $1.36 billion investment in developing commercial, retail, hospitality, and logistics assets within key real estate projects in Abu Dhabi. The new office tower on Sheikh Zayed Road, alongside the acquisition of ‘6 Falak’ in Dubai Internet City, underscores Aldar’s commitment to diversifying its portfolio and establishing a robust presence in Dubai.
Talal Al Dhiyebi, Group Chief Executive Officer of Aldar, emphasized the importance of this development: “Dubai is a priority growth market for us, and we will continue to increase our presence across key real estate asset classes. We are excited to develop what will be an iconic commercial property adjacent to one of the UAE’s key business centres.”
Expanding Commercial Portfolio
Over the past two years, Aldar has significantly expanded its commercial portfolio, now boasting 13 operational assets covering 465,000 square meters, with an impressive occupancy rate of 97%. The new office tower and the acquisition of ‘6 Falak’—a fully occupied Grade A office building in Dubai Internet City—are key additions to this growing portfolio.
A Vision for the Future
Aldar’s new projects align with the company’s vision of creating integrated, thriving communities across the UAE. The Grade A office tower on Sheikh Zayed Road is more than just a building; it is a symbol of Dubai’s future—a hub of innovation, sustainability, and luxury living.
As Aldar continues to expand its footprint in the UAE and beyond, this project is a testament to the company’s commitment to delivering world-class developments that cater to the evolving needs of businesses and residents alike.
About Aldar Properties
Aldar Properties is a leading real estate developer, investor, and asset manager in the UAE, with a growing presence across the Middle East, North Africa, and Europe. Aldar Development, a core segment, manages a strategic landbank of 69 million square meters, creating integrated communities across Abu Dhabi, Dubai, and Ras Al Khaimah. Aldar Investment oversees a diverse portfolio worth over AED 37 billion, spanning retail, residential, commercial, logistics, and hospitality sectors.
With this landmark project on Sheikh Zayed Road, Aldar continues to set new benchmarks in sustainable urban development, enhancing Dubai’s skyline and contributing to the city’s dynamic growth. 🌍
For more insights into the UAE real estate market, stay tuned to ARK Real Estate.
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