Waha Capital sells Logistics Assets to Aldar

Aldar on Tuesday said that it has acquired high-quality warehousing and light industrial real estate assets in the Al Dhafra region of Abu Dhabi from Waha for $144.30 million.

The assets, which are located at ALMARKAZ Industrial Park, a flagship Industrial and Business Park Development, add 182,500 sq. m. of net leasable area (NLA) to Aldar Investment’s income-generating logistics portfolio, Aldar said in a regulatory disclosure with Abu Dhabi Securities Exchange (ADX) this morning.

The freehold assets were developed by Waha Land, a wholly-owned subsidiary of Waha Capital, and enjoys special economic zone (SEZ) status. With further development potential at AL MARKAZ, the transaction provides an opportunity for Aldar and Waha to explore future collaboration at the site.

AL MARKAZ benefits from high quality infrastructure and the growing demand for logistics space driven by increasing intra-regional trade, e-commerce and population growth. The flexible design of the buildings acquired by Aldar allow for tenants to select from a range of unit sizes and building heights, offering excellent modularity.

The assets, which are at near full occupancy with a diverse base of international, regional and government related tenants, add to Aldar’s growing portfolio of logistics assets including Abu Dhabi Business Hub and 7 Central in Dubai Investments Park, as well as upcoming assets at National Industries Park in Jebel Ali and sites in Dubai South.

Aldar Investment CEO Jassem Salah Busaibe said that the latest acquisition is another step in Aldar’s ongoing expansion within the UAE’s logistics sector, aligning with its strategy to scale and diversify the company’s recurring income streams.

He added: “Our logistics platform continues to grow across Abu Dhabi and Dubai – capitalising 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.”

Waha’s Strategic Milestone

The transaction marks a strategic milestone for Waha, reflecting over a decade of investment into ALMARKAZ and the successful transformation of a greenfield site granted by the Abu Dhabi Government into a thriving logistics and industrial hub.

Waha Capital Managing Director Mohamed Hussain Al Nowais said that 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.

“Over more than a decade, our backing has enabled the creation of a high-quality, income-generating platform that directly contributes to the diversification of the Emirate’s economy,” he said.

“This transaction is a testament to the strength and scalability of the platform we have built, and to our commitment to long-term value creation across our portfolio. We are pleased to collaborate with Aldar on this milestone as we continue to unlock value and deliver strong returns for our shareholders,” he added.

The logistics segment of Aldar’s investment properties portfolio represents a priority area for expansion. Aldar is also developing multiple logistics facilities in Dubai South has entered a partnership with DP World to develop a 146,000 sq. m. logistics park at National Industries Park (NIP) in Jebel Ali.