Aldar, Mubadala Buy Masdar City Square In Dh918m Deal

(MENAFN- Khaleej Times) Abu Dhabi-listed developer Aldar and Mubadala Investment Company have acquired Masdar City Square for Dh918 million, through the joint venture the two Abu Dhabi entities set up in 2024, growing their combined Masdar City portfolio to Dh4.7 billion.

Masdar City Square spans more than 47,000 sqm of net leasable area across seven office buildings. Completed in the first quarter of 2026, the complex is already 99 per cent occupied, with tenants including Taqa, the Department of Energy, Emirates College and Mohamed bin Zayed University of Artificial Intelligence.

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The complex sits within Masdar City, positioned as one of the region's hubs for clean energy, artificial intelligence and advanced research. It is located near Zayed International Airport with direct highway access connecting Abu Dhabi and Dubai.

Talal Al Dhiyebi, group CEO of Aldar, said Abu Dhabi's economic fundamentals and investment in future-focused industries were drawing businesses, institutions and talent from around the world, sustaining demand for high-quality commercial real estate.

He described Masdar City Square as a highly occupied asset that scales the joint venture's presence in the destination.

Ali Eid AlMheiri, executive director for diversified assets, UAE Investments Platform at Mubadala, said the acquisition reflected the the company's disciplined investment approach, and that the joint venture was building a portfolio that strengthens the operating environment for knowledge-driven industries while supporting the UAE's net-zero ambitions.

Ahmed Baghoum, CEO of Masdar City, noted that sustainability was central to the complex's design, which is built to Leed Platinum and Well Gold standards and uses solar photovoltaic systems and passive cooling.

Growing portfolio

The deal is the latest move by the Aldar-Mubadala joint venture, which was created in 2024 and has already acquired 17 assets within the Masdar City Green Reit along with The Link at Masdar City, completed in the first quarter of 2026.

With Masdar City Square added, the joint venture's portfolio now spans more than 158,000 sqm of net leasable commercial space, with tenants including Irena, Masdar, Siemens, G42 and the UAE Space Agency, and a weighted average unexpired lease term of approximately 5.2 years. The portfolio also includes more than 1,400 residential units, which are fully occupied.

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