In a significant move for Abu Dhabi’s real estate landscape, AD Ports Group has finalized one of the largest land sale agreements in the emirate, valued at AED 2.47 billion (approximately US$670 million). This landmark deal with Mira Developments underscores the Group’s strategic focus on land development and investment opportunities within the region.
Strategic Location and Development Plans
The land involved in this major transaction is part of AD Ports Group’s expansive 16-square-kilometer Town Centre Area. Its strategic positioning along the Dubai-Abu Dhabi highway makes it an ideal site for the construction of one of the largest mixed-use communities in the Al Mamoura district. Plans outline that this extensive, fully integrated community will be realized over the next decade, with construction expected to kick off within the next 12 months.
Significance of the Agreement
Captain Mohamed Juma Al Shamsi, Managing Director and Group CEO of AD Ports Group, commented on the importance of this milestone. He stated, “This landmark agreement with Mira Developments reflects the Group’s commitment to advancing the development of its land portfolio and attracting new investment. The significant land sale establishes a new source of income for the Group, with the proceeds strengthening the company’s financial position through debt reduction and reinvestment into growth projects.” With this substantial agreement, AD Ports Group continues to solidify its role as a forward-thinking entity in Abu Dhabi’s economic landscape.
A Vision for Community and Infrastructure
The project is envisioned to feature one of the region’s largest shopping malls, alongside a comprehensive business complex, hotels, world-class golf courses, and educational institutions, including universities and schools. This diverse array of facilities is set to enhance the quality of life in the community while supporting the emirate’s efforts toward economic diversification.
Collaboration for Future Growth
Timur Mamaikhanov, Co-Founder and CEO of Mira Developments, expressed enthusiasm for the collaboration, noting, “We are pleased to partner with AD Ports Group on this transformative project. The Al Mamoura site is an exceptional location, and we are committed to developing a landmark mixed-use community that will set new standards for quality and lifestyle in Abu Dhabi.” He emphasized that this agreement lays the groundwork for a vibrant and dynamic destination that fuses residential, commercial, and leisure elements—an ambition that aligns with AD Ports Group’s aspirations to create lasting value for the emirate.
The recent land sale agreement not only signifies a major investment in Abu Dhabi’s infrastructure and community development but also highlights AD Ports Group’s ongoing strategy of unlocking new value from its asset portfolio. Through this agreement, the Group is positioning itself for continued growth and strategic investment in high-impact projects that will define the future of the region.