Aldar Properties to acquire assets from Abu Dhabi’s TDIC | Reuters

Aldar Properties to acquire assets from Abu Dhabi’s TDIC | Reuters:

"Aldar Properties (ALDR.AD) said on Monday it had reached agreement with Abu Dhabi’s Tourism Development & Investment Company (TDIC) to acquire real estate assets worth 3.7 billion dirhams ($1.01 billion), marking further consolidation of state-controlled entities in the emirate. The real estate developer agreed to buy 14 operating assets spanning hospitality, retail, residential and educational infrastructure. The acquisition will also include land and projects under development on Saadiyat Island, where the recently opened Louvre Abu Dhabi museum is located, Aldar said. The acquisition is expected to complete by the end of June."



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