Aldar Makes Landmark Acquisition in Dubai’s Financial Hub
Abu Dhabi, UAE – Aldar has announced the acquisition of a flagship commercial tower in Dubai International Financial Centre (DIFC), marking one of the most significant real estate transactions in the area. The AED 2.3 billion deal involves purchasing the iconic tower from H&H Development, a renowned Dubai-based real estate developer behind prestigious projects like the Four Seasons Hotel DIFC and the upcoming Janu Hotel and Residences.
This collaboration between Aldar and H&H Development aims to create a world-class commercial development that sets new standards in the region. Strategically located in DIFC, the tower will offer a blend of commercial and retail spaces across 40 floors. Scheduled for completion in 2028, the project underscores the growing demand for premium office spaces in Dubai.
Strengthening Aldar’s Presence in Dubai
This acquisition reflects Aldar’s strategy to expand its Grade A commercial portfolio and establish itself as the only UAE-based developer with assets in both Abu Dhabi Global Market (ADGM) and DIFC—two of the nation’s premier financial hubs. The deal also builds on Aldar’s recent foray into Dubai’s real estate market, which includes acquiring 6 Falak, developing a Grade A office tower on Sheikh Zayed Road, and partnering on a mixed-use project with Expo City Dubai.
Talal Al Dhiyebi, Group CEO of Aldar, emphasized the significance of this acquisition:
“Our expansion into DIFC represents a pivotal step in Aldar’s growth strategy, offering us exposure to Dubai’s financial district. This flagship asset will deliver flexible, high-quality commercial spaces to meet the needs of regional and multinational businesses. It aligns with our vision of catering to the UAE’s thriving business environment while reinforcing our position as a leading real estate developer.”
Shahab Lutfi, Chairman of H&H Development, shared similar sentiments:
“This collaboration exemplifies our shared commitment to excellence and innovation. The development will enhance DIFC’s skyline and strengthen Dubai’s reputation as a global business hub. We look forward to delivering a Grade A commercial space that sets a benchmark for quality.”
World-Class Design and Sustainability
The tower, designed by internationally acclaimed architects Herzog & de Meuron, aims to achieve LEED Platinum certification, reflecting Aldar and H&H Development’s dedication to sustainable practices. The project will feature flexible floor plans catering to single-tenant and multi-tenant needs, making it a prime choice for businesses seeking premium office spaces.
Its location offers unparalleled connectivity, with direct access to Sheikh Zayed Road and proximity to Dubai’s top-tier dining, retail, and leisure destinations.
Meeting Growing Demand in DIFC
As one of the Middle East’s leading financial hubs, DIFC continues to attract regional and international firms. The demand for Grade A commercial spaces has surged, with rents in the area increasing by 15% year-on-year. Aldar’s new tower aims to address this demand by offering state-of-the-art office spaces designed to support the evolving needs of businesses in the region.
About Aldar
Aldar is a leading real estate developer, manager, and investor based in Abu Dhabi, with a growing presence across the UAE, MENA region, and Europe. The company operates through two main divisions:
- Aldar Development: Specializing in master-planned communities across the UAE.
- Aldar Investment: Managing a portfolio worth over AED 37 billion, including residential, commercial, retail, logistics, and hospitality assets.
For more information, visit www.aldar.com.
About H&H Development
Founded in 2007, H&H Development is a leading real estate developer and asset manager in Dubai, known for its turnkey developments and commitment to modern, high-quality projects. With a focus on cutting-edge design, the company continues to shape Dubai’s dynamic real estate landscape.
