Aldar and Mubadala Complete AED 654M Real Estate Acquisition of The Link at Masdar City

Aldar and Mubadala, an Abu Dhabi sovereign investor, have completed the acquisition of The Link at Masdar City for AED 654 million, the firms announced April 21, 2026. The transaction was executed through the joint venture the two firms established in 2024 and marks a further step in building a high-quality, income-generating real estate portfolio within the sustainable urban development.

Acquisition Details

The Link comprises approximately 32,000 square meters of net leasable area across five buildings and is 100% leased at the time of acquisition. The asset includes Grade A LEED Platinum office space, a Net-Zero energy headquarters building, a multi-use hall, and residential accommodation. Anchor tenants include Abu Dhabi Future Energy Company PJSC, known as Masdar, and Mohamed bin Zayed University of Artificial Intelligence (MBZUAI), two institutions central to the UAE's knowledge and innovation economy.

The property is located within Masdar City, Abu Dhabi's designated district for clean energy, advanced research, and technology-driven commerce. Masdar City has been recognized as the UAE's fastest-growing free zone, according to the announcement.

Dr. Bakheet Al Katheeri, CEO of Mubadala's UAE Investments Platform, said the transaction reflects the firm's confidence in Abu Dhabi's long-term growth trajectory. "Through our partnership with Aldar, we are scaling high-quality assets within Masdar City — one of the UAE's leading platforms for clean energy, artificial intelligence, and advanced research," Al Katheeri said. "This investment also reflects Mubadala's disciplined and responsible investment approach, focusing on sustainable infrastructure that delivers strong financial performance while supporting the UAE's Net Zero ambitions and strengthening long-term economic resilience."

Strategic Context

Talal Al Dhiyebi, Group Chief Executive Officer of Aldar, described the acquisition as consistent with the firm's conviction in Abu Dhabi's real estate fundamentals. "The acquisition of The Link marks another important step in our strategic partnership with Mubadala and reflects our shared belief in the long-term fundamentals of the Abu Dhabi real estate market," Al Dhiyebi said. "This high-quality, fully leased asset enhances the resilience and scale of Aldar's investment portfolio, while deepening our exposure to an internationally renowned sustainable urban development centred on clean energy, advanced technology and research."

Ahmed Baghoum, Chief Executive Officer of Masdar City, noted the significance of the transaction for the broader district. "The Link marks a significant addition to Masdar City's evolving destination, advancing a vision where sustainable development supports economic growth and future industries," Baghoum said. "Since Masdar City's inception, over the past two decades, the vision continues to move boldly into the future, and we are proud to deliver this landmark development, further strengthening Abu Dhabi's position as a leading hub for innovation and the UAE's Net-Zero ambitions."

Mubadala and Aldar JV

The Aldar-Mubadala joint venture was established in 2024 with a focus on acquiring resilient, income-generating assets aligned with national priorities. The acquisition of The Link builds on prior acquisitions the joint venture has made within Masdar City and reinforces a long-term strategy centered on sustainable real estate development and institutional-grade assets.

The transaction reflects what the firms describe as continued institutional confidence in Abu Dhabi's real estate market, supported by strong demand for high-quality, income-generating properties. The fully leased status of The Link at the time of acquisition, anchored by tenants tied to the UAE's clean energy and artificial intelligence sectors, underscores the asset's positioning within the broader innovation ecosystem.

The transaction price of AED 654 million equates to approximately AED 20,438 per square meter of net leasable area, based on the disclosed 32,000 square meters. No cap rate, financing terms, or seller identity were disclosed in connection with the transaction.