Abu Dhabi developer Aldar Properties has purchased a residential and community retail development in Dubai Studio City from private developer SRG for AED 1.1 billion. The asset will be developed into a build-to-rent residential community and is scheduled for completion in 2028.
The acquisition expands Aldar's recurring income portfolio in Dubai, which already includes a mixed-use joint venture with Expo City Dubai, a commercial tower in the DIFC, a Grade A office building on Sheikh Zayed Road, and logistics assets in National Industries Park and Dubai South.
Gulf Economist Staff Writer