Aldar and Mubadala JV Expands Investment in Masdar City With Acquisition of Masdar City Square

The transaction forms part of the Aldar-Mubadala JV, established in 2024, which now owns an AED 4.7 billion portfolio of commercial and residential assets in Masdar City
AED 918 million acquisition includes over 47,000 sqm of Grade A commercial space within Masdar City’s growing clean energy, AI and innovation ecosystem
Completed in Q1 2026, the seven buildings at Masdar City Square are already 99% occupied by leading organizations across the AI, education, and energy sectors
Masdar City Square holds LEED Platinum and WELL Gold certifications and adds another net-zero office building to the JV’s portfolio

Abu Dhabi, UAE – 16 September 2026: Aldar and Mubadala Investment Company (‘Mubadala’), an Abu Dhabi Sovereign Investor, have jointly acquired Masdar City Square for AED 918 million, through their joint venture established in 2024. The transaction further scales the partners’ high-quality, income-generating real estate portfolio, now valued at AED 4.7 billion within Masdar City, one of the region’s leading hubs for clean energy, artificial intelligence, advanced research and sustainable urban development.

Masdar City Square comprises more than 47,000 sqm of net leasable area across seven office buildings. Completed in the first quarter of 2026, the complex is 99% occupied by a high-quality tenant base that includes TAQA, the Department of Energy, Emirates College and Mohamed bin Zayed University of Artificial Intelligence.

The acquisition further strengthens Aldar’s commercial portfolio, while deepening the JV’s presence in Masdar City which continues to develop as a leading sustainable urban community and business destination with a highly diversified ecosystem. Located near Zayed International Airport and with direct access to major highway networks connecting Abu Dhabi and Dubai, Masdar City Square is strategically positioned within one of Abu Dhabi’s key business districts.

Talal Al Dhiyebi, Group Chief Executive at Aldar, said: “Abu Dhabi’s strong economic fundamentals and continued investment in future-focused industries are attracting businesses, institutions and talent from around the world, supporting sustained demand for high-quality commercial real estate. Masdar City is an important part of that growth story, with a distinctive ecosystem built around clean energy, technology, artificial intelligence and advanced research. Masdar City Square adds a high-quality, highly occupied asset to our joint venture with Mubadala as we continue to scale our presence in this strategically important destination.”

Ali Eid AlMheiri, Executive Director, Diversified Assets, UAE Investments Platform at Mubadala, said: “Investing in the infrastructure of future-focused sectors is central to how Mubadala’s UAE Investments Platform builds long-term economic value in Abu Dhabi. Masdar City Square is a newly completed commercial asset with near-full occupancy and a high-quality institutional tenant base that reflects Mubadala's disciplined investment approach. Through our joint venture with Aldar, we are assembling a real estate portfolio that strengthens the operating environment for knowledge-driven industries, advances the UAE’s Net Zero ambitions, and contributes to the continued diversification of the UAE economy."

Ahmed Baghoum, Chief Executive Officer of Masdar City, said: “Sustainability is central to the design of the complex, which is designed to achieve LEED Platinum and WELL Gold certifications and features solar photovoltaic systems and passive cooling techniques. It also adds a net-zero energy HQ office building, currently serving as Abu Dhabi Department of Energy’s HQ, to the joint venture’s portfolio. Connected to Masdar City’s wider commercial and lifestyle ecosystem, the acquisition advances Masdar City’s vision for a connected, sustainable community that supports investment, innovation and growth, creating lasting value for Abu Dhabi.”

The acquisition is the latest transaction under a Masdar City focused joint venture created by Aldar and Mubadala in 2024, which included the acquisition of 17 assets within the Masdar City Green REIT and The Link at Masdar City, which completed in Q1 2026. With the addition of Masdar City Square, the joint venture now holds a diversified portfolio spanning more than 158,000 sqm of net leasable commercial space occupied by a high-quality tenant base that includes IRENA, Masdar, Siemens, G42, and the UAE Space Agency with a weighted average unexpired lease term of approximately 5.2 years. The portfolio also includes over 1,400 residential units, which are fully occupied.

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