The Honourable Inaugurating a new partnership between Mubadala Investment Company (Mubadala) and Aldar Properties (Aldar) to establish a series of joint ventures to own and manage prime residential, commercial, retail, and logistics assets across Abu Dhabi, with a combined value of more than Dhs30 billion, is Sheikh Khaled Bin Mohamed Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council.
In order to support sustainable economic growth, showcase investment opportunities provided by the emirate’s business-friendly ecosystem and knowledge- and innovation-based economy, and drive Abu Dhabi’s ongoing transformation and growth as a global business and lifestyle destination, Sheikh Khaled emphasised the importance of strategic partnerships between the public and private sectors.
Aldar and Mubadala will own 60:40 of the partnership, which makes use of Mubadala’s institutional and land bank experience and Aldar’s strengths in development and asset management.
The four joint ventures will develop strategically located islands next to Saadiyat Island and Yas Island; acquire mature, sustainable residential and commercial income-generating assets in Masdar City; and build a logistics park near Zayed International Airport. Together, these projects will create a world-class retail platform that will unify the emirate’s premier shopping destinations.
Also Read:
At Least Nine People were Killed when a wave of Detonating Pagers hit Hizbollah in Syria and Lebanon
Sheikh Mohammed Signs Legislation Governing Dubai’s Grant of law Enforcement Authority
About Author
