Aldar Acquires Landmark Tower in DIFC from H&H Development

Aldar, a leading real estate developer based in Abu Dhabi, has announced the acquisition of a flagship commercial tower in the Dubai International Financial Centre (DIFC) from H&H Development in a transaction valued at AED 2.3 billion, marking one of the largest commercial tower acquisitions in the area. H&H Development, known for high-profile projects in DIFC, is collaborating with Aldar to ensure the development leverages their expertise to set new benchmarks for commercial spaces. The tower, upon completion in 2028, will comprise 40 floors of commercial and retail space, strategically located for high desirability due to prime access points such as Sheikh Zayed Road. This acquisition enhances Aldar’s presence in Dubai’s commercial real estate market and positions it as the only UAE developer with assets in both ADGM and DIFC, the premier financial centers within the country. H&H Development's approach to quality and innovation, along with high global demand for Grade A office spaces, reinforces the investment potential of this venture. Designed by Herzog & de Meuron, the tower is aiming for LEED Platinum certification to highlight sustainable construction practices. This project aligns with Aldar’s aim to address the substantial demand for office spaces amidst favorable macroeconomic conditions in the UAE.