Abu Dhabi’s Aldar Investments acquires two properties in $327m

Emirati investment company Aldar Properties has agreed to fully acquire two buildings in Abu Dhabi partially owned by Etihad Airways in a 1.2 billion United Arab Emirates dirham ($327 million) transaction.

Three properties are Etihad Plaza, Etihad Airways Centre and Etihad Airways headquarters. All have previously been held in three, 50–50 joint ventures between Aldar Properties and Etihad.

Etihad will take 100 percent ownership of Etihad Airways HQ, while the other two properties will be under the ownership of Aldar Investments.

The acquisition is expected to be completed in the second quarter of 2019.

The deal with Etihad Airways adds 789 residential units, 17,940 square meters (193,000 square feet) of total area of office space for rent as well as 11,000 square meters (118,000 square feet) in leasable retail space to Aldar Investments’ portfolio.