Dubai: Aldar will combine with the Abu Dhabi wealth fund to develop commercial real estate assets on Al Maryah Island. These will be built within the Abu Dhabi Global Market, the financial hub and free zone.

Aldar will own a 60% stake in the joint venture, with Mubadala having the rest.

The deal follows close on the heels of Aldar’s buy of four commercial tower at ADGM from Mubadala, which was struck last year. And there was another deal between the two to acquire the Al Maryah Tower, also last year.

More to follow...