International law firm CMS has advised Aldar Investment, the investment business of Aldar Properties PJSC, on its acquisition of a 70% equity interest in Abu Dhabi Business Hub, valued at more than AED 500m.
The acquisition sees the creation of Aldar Logistics, Aldar’s new logistics real estate vertical, which will focus primarily on the UAE, with the potential to expand into Saudi Arabia and Egypt.
Abu Dhabi Business Hub is a leading developer and manager of real estate in Abu Dhabi and owns a strategically located warehousing, industrial, and office complex in Industrial City Abu Dhabi.
CMS advised Aldar on all aspects of the transaction, from the initial structuring phases through to completion. The team was led by Partners, John O’Connor and Geoff Smith, supported by Kiren Matharu (Senior Associate), Mai Marshad, James Kay and Fawzi Oueidat (Associates), and Yasmeen Said (Paralegal).
John O’Connor comments: “We are delighted to have advised Aldar on this significant acquisition which has led to the creation of Aldar Logistics. This new logistics asset augments Aldar Investment’s growing real estate portfolio and gives it access to this exciting segment of the market, offering significant growth potential”.
