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Saadiyat Island is commonly regarded as the jewel in the crown of Abu Dhabi’s real estate portfolio Saadiyat Island is commonly regarded as the jewel in the crown of Abu Dhabi’s real estate portfolio

Aldar Acquires Real Estate Assets from TDIC

Aldar properties, Abu Dhabi based property development company, announced that it has reached an agreement with Tourism Development & Investment Company (TDIC) to acquire a portfolio of prime real estate assets worth AED3.7 billion (USD1 billion), in what is reportedly one of the largest real estate acquisitions in the country’s history.

Aldar has acquired assets located in key destinations, with a focus on Saadiyat Island.

This comprises of 14 operating assets within various sectors ranging from hospitality, retail, residential, education and infrastructure, in addition to a selection of prime strategic land plots and projects under development on Saadiyat Island.

“Acquiring assets on Saadiyat Island presents Aldar with an unprecedented opportunity to add significant value to its portfolio,” commented Talal Al Dhiyebi, CEO, Aldar Properties. “The opening of Louvre Abu Dhabi has demonstrated the government’s commitment to make Saadiyat Island one of the most sought after destinations in the world.”

The acquisition is expected to fully complete by end of June and it is subject to the fulfillment of certain conditions.