In a strategic move to expand its presence in the UAE’s thriving logistics sector, Aldar Properties, Abu Dhabi’s leading real estate developer, has acquired a portfolio of high-quality logistics assets from Waha Capital for AED 530 million ($144 million). Announced on July 1, 2025, the acquisition includes warehousing and light industrial real estate assets located in the Almarkaz Industrial Park in Abu Dhabi’s Al Dhafra region. This deal adds 182,500 square meters of net leasable area (NLA) to Aldar’s growing logistics portfolio, reinforcing its position as a key player in the UAE’s real estate and logistics markets.
Details of the Acquisition
The acquired assets are part of the 6-million-square-meter Almarkaz Industrial Park, a flagship development by Waha Land, a wholly-owned subsidiary of Waha Capital. The park holds Special Economic Zone status, which provides tax and regulatory benefits, making it an attractive hub for businesses. The assets are nearly fully occupied, hosting a diverse mix of international, regional, and government-related tenants. The buildings offer modular flexibility in unit sizes and heights, catering to a broad tenant base and ensuring adaptability to various business needs.
| Detail | Information |
| Acquirer | Aldar Properties |
| Seller | Waha Capital (via Waha Land) |
| Assets Acquired | Warehousing and light industrial assets in Almarkaz Industrial Park, Al Dhafra |
| Total Net Leasable Area (NLA) | 182,500 sqm |
| Transaction Value | AED 530 million ($144 million) |
| Occupancy Status | Near full occupancy |
| Additional Context | Part of a 6-million sqm park with Special Economic Zone status; supports Aldar’s logistics portfolio expansion to over 600,000 sqm |
Strategic Significance for Aldar
The acquisition aligns with Aldar’s broader strategy to scale and diversify its income-generating portfolio, particularly in the logistics sector, which is experiencing robust demand driven by trade, e-commerce, and population growth in the UAE. Jassem Salah Busaibe, Chief Executive Officer of Aldar Investment, emphasized the strategic fit of the deal, stating, “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 – capitalizing 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 portfolio already includes notable properties such as the Abu Dhabi Business Hub and 7 Central in Dubai Investments Park. The company is also developing new logistics facilities at National Industries Park in Jebel Ali and sites in Dubai South, including a 146,000 sqm logistics park in partnership with DP World. With this acquisition, Aldar’s total logistics NLA exceeds 600,000 square meters, positioning the company to capitalize on the UAE’s growing need for premium logistics infrastructure.
Waha Capital’s Perspective
For Waha Capital, the transaction marks a significant milestone, reflecting over a decade of investment in transforming Almarkaz from a greenfield site into a thriving logistics and industrial hub. 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. This transaction is a testament to the success of our long-term investment strategy and the value we have created. We look forward to exploring further opportunities for collaboration with Aldar, leveraging our complementary strengths to drive growth in the logistics sector.”
Waha Capital, an Abu Dhabi-listed investment company, manages assets across diverse sectors, including logistics, healthcare, financial services, and infrastructure. The sale of the Almarkaz assets underscores its ability to create value through strategic investments and positions it for potential future partnerships with Aldar at the Almarkaz site, which still holds significant development potential.
Broader Market Context
The UAE’s logistics sector is experiencing strong growth, fueled by the expansion of e-commerce, increased trade activity, and population growth. The rise of online retail and the need for efficient supply chains have driven demand for high-quality warehousing and logistics facilities. Almarkaz Industrial Park’s Special Economic Zone status enhances its appeal, offering businesses favourable conditions for operations and growth.
Aldar’s investment in logistics is part of a broader trend among UAE developers to diversify beyond traditional residential and commercial real estate. In January 2024, Aldar announced a AED 1 billion investment to expand its logistics business in Dubai and Abu Dhabi, signalling its commitment to this sector. The acquisition of the Almarkaz assets further solidifies Aldar’s position as a leader in this space.
Future Collaboration and Growth
The transaction opens the door for future collaboration between Aldar and Waha Capital, with both companies expressing interest in exploring further opportunities at Almarkaz. The park’s development potential and strategic location make it a prime candidate for additional logistics and industrial projects, which could benefit both firms.
About the Companies
Aldar Properties PJSC is a leading UAE real estate developer, investor, and manager with a diverse portfolio spanning residential, commercial, and logistics properties. With over 25 years of experience, Aldar has played a pivotal role in shaping Abu Dhabi’s real estate landscape.
Waha Capital is an Abu Dhabi-listed investment company offering exposure to high-potential opportunities in sectors such as logistics, healthcare, financial services, and infrastructure. Founded in 1997, Waha Capital has a strong track record of strategic investments in the Middle East and North Africa.
Aldar’s acquisition of the Almarkaz logistics assets from Waha Capital is a strategic move that strengthens its logistics portfolio and positions it to capitalize on the UAE’s growing demand for premium logistics infrastructure. For Waha Capital, the deal highlights the success of its long-term investment in Almarkaz and opens opportunities for future collaborations. As the UAE’s logistics sector continues to grow, this transaction underscores the increasing importance of industrial real estate in the region’s economic landscape.
