Aldar and Mubadala Buy Masdar City Square for $250 Million

Aldar and Mubadala have added Masdar City Square to their shared property holdings, paying $250 million (AED 918 million) for the seven-building office complex.

The purchase went through the joint venture the two Abu Dhabi entities formed in 2024 to buy assets inside Masdar City, a district built around clean energy, artificial intelligence, advanced research and sustainable development. The partnership's holdings in the destination now reach $1.3 billion (AED 4.7 billion), spread across commercial and residential property.

What the joint venture bought

Masdar City Square was completed in the first quarter of 2026 and offers more than 47,000 square meters of Grade A commercial space. It is 99% occupied. Tenants include TAQA, the Department of Energy, Emirates College and Mohamed bin Zayed University of Artificial Intelligence.

The complex carries LEED Platinum and WELL Gold certifications and runs on solar photovoltaic systems and passive cooling technology. One building, occupied by the Abu Dhabi Department of Energy, is a net-zero energy headquarters.

A commercial portfolio of 158,000 square meters

The deal follows the venture's acquisition of 17 assets held in the Masdar City Green REIT and The Link at Masdar City, a transaction completed in the first quarter of 2026.

Counting Masdar City Square, the portfolio now holds more than 158,000 square meters of net leasable commercial space, with a weighted average unexpired lease term of about 5.2 years. IRENA, Masdar, Siemens, G42 and the UAE Space Agency are among the tenants. More than 1,400 residential units, all of them occupied, sit alongside the offices.

Talal Al Dhiyebi, Aldar's group CEO, said the mix of clean energy, technology, AI and advanced research gathered in Masdar City is supporting demand for commercial real estate. The acquisition brings a heavily leased asset into the portfolio as the venture widens its presence in the district, he said.

Location and investment case

Ali Eid AlMheiri, executive director of diversified assets at Mubadala's UAE Investments Platform, said the investment supports the operating environment for knowledge-driven industries and contributes to the UAE's economic diversification.

Masdar City Square sits close to Zayed International Airport, with highway connections linking Abu Dhabi and Dubai, putting it inside one of the capital's main business districts.

Forbes ranking

Dhiyebi holds third place on Forbes Middle East's Most Impactful Real Estate Leaders 2026 list.