Aldar Expands Dubai Residential Rental Market Presence With AED 1.1bln Acquisition
Aldar has today announced the acquisition of a residential and community retail development in Dubai Studio City from SRG, a private developer, for AED 1.1 billion, marking the group’s latest residential-for-rent community in Dubai and further supporting its long-term strategy to build a high-quality recurring income portfolio and scaling its presence in the city.
Targeted for completion in 2028, the development will include six mid-rise buildings, designed with warm, sandstone-toned façades and generous terraces and balconies that extend the living spaces outward to embrace the landscaped setting below. The development features 312 residential units with a mix of one-, two- and three-bedroom homes and duplex units.
The community is designed to serve the everyday lifestyle needs of residents within a single cohesive environment. It will be home to a community mall that features a mix of retail, recreational and F&B concepts, while a 16,000 square metre park will be located within the community, providing activity areas, a jogging track, and a playground.
Jassem Saleh Busaibe, Chief Executive Officer of Aldar Investment, said: “Dubai is a priority growth market for Aldar, and this acquisition reflects our belief in the city’s residential market and the central role that institutionally owned, professionally managed rental housing plays in meeting the needs of a growing population. Dubai Studio City’s established infrastructure, vibrant community, and strong connectivity make it an excellent location for a high-quality, professionally managed living environment. This transaction is the latest step in a deliberate and broadening strategy to build a diversified portfolio of income-generating assets in Dubai, one that we expect to continue growing as the city attracts increasing global interest and talent.”
Aldar continues to grow its presence in Dubai through partnerships with developers that have demonstrated strong delivery capabilities and experience in creating vibrant mixed-use communities. With this latest acquisition, the counterparty has successfully delivered large-scale projects across the region, with a portfolio spanning residential towers, community retail destinations, and lifestyle amenities.
Located in Dubai Studio City, the development is positioned within a high-demand residential catchment area benefiting from established infrastructure, direct connectivity to Al Qudra Road and Hessa Street, and close proximity to key employment and lifestyle hubs, including Motor City and Dubai Sports City. The area also benefits from easy access to leisure destinations such as Dubai Autodrome, Dubai International Cricket Stadium and Dubai Butterfly Garden, together with a network of schools and community facilities.
This acquisition builds on Aldar’s growing presence in Dubai across multiple asset classes. Aldar Investment’s recurring income portfolio in the emirate now spans residential, commercial, logistics, and mixed-use assets, including a mixed-use joint venture with Expo City Dubai, a landmark commercial tower in DIFC, a Grade A office tower on Sheikh Zayed Road, and logistics assets in National Industries Park and Dubai South. On the development side, Aldar’s joint venture with Dubai Holding has delivered strong momentum, with three master planned residential communities already launched and an expanded pipeline of over 2.3 million sqm of new GFA supporting Dubai’s 2040 Urban Masterplan.
