Dubai: Aldar to build office tower on Sheikh Zayed Road

Aldar Properties has unveiled plans to develop a grade A office tower on Sheikh Zayed Road, adjacent to the Dubai International Financial Centre (DIFC).

This strategic project is part of Aldar’s Dhs1.8bn investment to expand its presence in Dubai.

The development will feature a grade A office tower with a net leasable area (NLA) of 88,000 sqm, complemented by a luxury boutique hotel and branded residences.

The mixed-use development is set to offer high-quality commercial space alongside premium hospitality and F&B options.

Scheduled for completion by Q4 2027, the tower will be situated on one of the last undeveloped double plots in the prime freehold area, boasting proximity to the Emirates Towers Metro Station.

This announcement follows Aldar’s 2023 plans to develop new commercial assets across three key destinations in Abu Dhabi, catering to the growing demand from regional and international blue-chip tenants.

“Dubai is a priority growth market for Aldar, and we will continue to increase our presence across key real estate asset classes,” said Talal Al Dhiyebi, group CEO of Aldar.

“We are excited to develop what will be an iconic commercial property adjacent to one of the UAE’s key business centres.

“This project not only leverages our development expertise but also provides the commercial space needed to meet the growing demand from new market entrants and incumbent businesses eager to relocate,” he added.

Aldar to acquire office tower in DIC

In addition to the new development, Aldar has signed an agreement to acquire ‘6 Falak’, a newly-built grade A office building in Dubai Internet City (DIC) from Sweid & Sweid.

Completed in March 2024, the building offers 9,100 sqm of NLA and is fully occupied by blue-chip tenants, including Roland Berger, Merck and IFS.

The transaction is expected to be completed in the coming weeks, subject to final authority approvals.

These strategic investments mark the company’s inaugural commercial property ventures outside of Abu Dhabi.

Over the past two years, the company’s commercial portfolio has grown significantly and now includes 13 operational assets with a total NLA of over 465,000 sqm and a 97 per cent occupancy rate.

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