Aldar Properties Makes Landmark $626M Acquisition in Dubai’s Financial Hub
In a strategic move that reinforces its presence in Dubai’s real estate market, UAE-based real estate giant Aldar Properties has acquired a prime commercial tower in the heart of Dubai’s financial district for an impressive $626 million.
The state-of-the-art tower, which is currently under development, is being acquired from H&H Development, a renowned Dubai-based developer. Known for iconic projects such as the Four Seasons Hotel Dubai International Financial Centre (DIFC), H&H Development has established itself as a key player in the emirate’s real estate market. Once completed in 2028, the tower will feature 40 floors of premium commercial and retail space, positioning itself as a landmark addition to the DIFC skyline.
This acquisition is considered one of the largest in Dubai’s commercial real estate sector, showcasing Aldar’s commitment to expanding its footprint in high-value locations.
Aldar Properties: A Growing Legacy
Aldar, partially owned by prominent entities such as Mubadala (25%) and International Holding Company (26%), continues to set benchmarks in the region. The company reported a remarkable net profit of AED 4.6 billion for the first nine months of 2024—a 52% increase compared to the same period last year.
Beyond the UAE, Aldar’s portfolio spans across Egypt and London, demonstrating its diversified approach to real estate development and investment.
H&H Development: Pioneering Excellence in Dubai
Established in 2007, H&H Development has built a strong reputation as a developer, asset manager, and investor in Dubai’s competitive real estate sector. The company’s projects, including the renowned Four Seasons Hotel DIFC, reflect its dedication to quality and innovation.
This acquisition marks another milestone in Aldar’s growth story, while highlighting Dubai’s enduring appeal as a global real estate hub.
