Abu Dhabi – Mubasher: Aldar Properties teamed up with global investment firm Carlyle to invest AED 407 million ($111 million) in logistics and storage assets across Europe, according to a press release.
Under the partnership, Aldar will have a majority stake in a co-investment platform that includes an income-producing portfolio of 14 warehouses located across key logistics hubs in the UK.
The UAE-based firm also will commit to the Carlyle Europe Realty (CER) platform, the company’s pan-European real estate strategy.
Talal Al Dhiyebi, Group CEO of Aldar, said: “In partnering with Carlyle, an established player in European real estate, we are gaining quality access to a real estate segment that offers high yield and steady capital growth, while also gaining the opportunity to bring our expertise to bear.”
“These newly acquired assets will anchor our logistics business as we continue to explore opportunities, locally and internationally, to build further scale in the coming years,” Al Dhiyebi continued.
The private equity investments align with Aldar’s commitment to invest a further AED 1 billion to expand its logistics portfolio across Abu Dhabi and Dubai.
It also comes within the framework of the recently announced capital commitment to European real estate private credit alongside Mubadala Investment Company and Ares Management.
Development Project Awards
In 2023, Aldar awarded 49 contracts at an aggregated value of AED 22 billion for a series of projects, including infrastructure, residential, commercial, and mixed-use developments across Abu Dhabi.
The contracts were awarded to 36 UAE-based companies, with AED 10.50 billion recirculated to the National In-Country Value (ICV) programme.
A total of 53% of the contracts were awarded for Aldar’s projects, while the remaining 47% are projects being delivered on behalf of the Abu Dhabi government.
Adel Abdulla Albreiki, CEO at Aldar Projects, said: “The significant value of contracts awarded by Aldar in 2023 is a representation of Abu Dhabi’s ongoing and accelerated development as a destination to live, work, and visit.”
“Once completed, these projects will not only help to satisfy demand for new residential options in the capital, but also deliver new office and retail spaces, and make the emirate more connected through a series of infrastructure improvements,” Albreiki continued.
