Abu Dhabi developer Aldar has bought Dh650 million ($177 million) worth of logistics assets from Khalifa Economic Zones Abu Dhabi (Kezad), a unit of AD Ports Group, to expand its industrial portfolio in the emirate.
The transaction includes three multi-let warehouses within Kezad’s Al Ma'mourah cluster, with a total area of 163,000 square metres, Aldar and AD Ports said in statements to the Abu Dhabi Securities Exchange on Thursday.
Aldar will assume responsibility for management, leasing and property management of the assets. The buildings are 97 per cent occupied with a diverse base of 80 tenants spanning food and beverage, FMCG, logistics, manufacturing and technology services. Anchor tenants include DHL, Spinneys and Noatum Logistics.
“This acquisition reflects our confidence in Abu Dhabi's long-term economic fundamentals and the structural drivers underpinning demand for quality real estate across the emirate,” Jassem Busaibe, chief executive of Aldar Investment, said.
Aldar is building an industrial and logistics platform to serve a wide range of clients, and the “transaction is a significant step in that journey”, he added. Aldar also bought the Noon and Emtelle warehouses at Kezad in November for Dh570 million.
In a separate statement, AD Ports Group said the latest sale to Aldar marks the second transaction this year under its asset optimisation programme after it sold Kezad Logistics Park – KLP Free Zone 3, a group of warehouse assets, to Mair Group for Dh295 million.
“The proceeds of the transaction, which represents 65 per cent of the minimum Dh1 billion target value from additional asset monetisation transactions set for 2026, will be used to continue to de-leverage the Group’s balance sheet and fund part of this year’s growth projects,” AD Ports said.
In 2025, AD Ports generated Dh4.6 billion from its asset monetisation plan, including the sale of land and warehouses at Kezad as well as its 9.77 per cent stake in Abu Dhabi's NMDC Group.
