Abu Dhabi-based developer Aldar announced on Wednesday its acquisition of a flagship tower in Dubai International Financial Centre (DIFC) from H&H Development for Dh2.3 billion, marking one of the largest commercial tower deals recorded in DIFC.
This collaboration between Aldar and H&H Development aims to deliver a world-class development, setting a new benchmark for premium commercial spaces in the region.
Scheduled for completion in 2028, the iconic 40-story tower will house commercial and retail spaces, bolstering Aldar’s Grade A commercial portfolio. This acquisition uniquely positions Aldar as the only UAE developer with commercial assets in both Abu Dhabi Global Markets (ADGM) and DIFC, the country's leading financial hubs.
The increasing presence of regional and international financial services and innovative firms in DIFC has significantly boosted demand for premium commercial spaces, reflected in a 15% year-on-year rise in average Grade A rents in the area.
The tower will feature flexible floorplates, catering to a variety of tenant preferences, offering both multi-tenanted and single-tenanted leasing options to meet diverse requirements.
