Record occupancy for Grade A commercial real estate in Abu Dhabi

In the UAE capital, the Aldar Properties company announces a record occupancy of 97% across its Grade A commercial property. Among them are the International Tower, Aldar’s buildings at the Abu Dhabi Global Market (ADGM), and HQ.

In H1 2023, the office sector in the UAE capital demonstrated growth returning to 2016 levels. As stated by Jassem Saleh Busaibe, Chief Executive Officer at Aldar Investment, the commercial property market in the emirate continues to demonstrate high performance, with indicators contradicting the global trend. Investors are confident in the strong macro fundamentals, as well as the stable regulatory environment of Abu Dhabi as we can trace this in the occupancy indicators within the commercial portfolio of the company.

The UAE capital, which is distinguished by a favourable business environment, continues to be an attractive place for major global corporations, which strive to expand their regional presence. As a result, there is high demand for future developments.

Recently, Aldar in partnership with Mubadala, acquired Al Maryah Tower, which is situated on Al Maryah Island. It is expected to reach an occupancy rate of 50% by the end of 2023 before it becomes operational in the first quarter of 2024.