Aldar Properties to acquire the Grade A commercial towers from Mubadala Investment for $1.2bn.

Aldar Properties, a real estate development and investment company, agreed to acquire the Grade A commercial towers from Mubadala Investment, a sovereign investor, for $1.2bn. "We continue to be active in pursuit of capital deployment opportunities to expand our portfolio as part of our transformational growth agenda. The office towers at ADGM are non-replicable assets in Abu Dhabi, positioned at the epicentre of the financial district, and allow us to diversify our commercial offering and income streams. Our strong long-term relationship with Mubadala and the strategic nature of the transaction will result in Aldar driving forward ADGM's position as the most desirable destination in the region for international financial services entities," Talal Al Dhiyebi, Aldar Properties CEO.