The key facts at a glance
Aldar Properties and Mubadala Investment Company have acquired Masdar City Square for AED 918 million through their Masdar City-focused joint venture, which was established in 2024. The announcement was made on 16 September 2026.
Masdar City Square is a completed seven-building office complex in Masdar City, Abu Dhabi. It has more than 47,000 square metres of net leasable area and was reported to be 99% occupied when the transaction was announced.
The acquisition increases the joint venture’s stated Masdar City portfolio to AED 4.7 billion.
The acquired property is a completed Grade A office complex
Masdar City Square is a Grade A commercial office complex located within Masdar City, Abu Dhabi. The latest official announcement describes the property as seven office buildings with more than 47,000 square metres of net leasable area. The buildings were completed in the first quarter of 2026.
The complex is part of an environment associated with clean energy, technology, artificial intelligence, research and innovation. Its location is near Zayed International Airport and provides access to Abu Dhabi’s major road connections.
Readers should note the difference between net leasable area and gross floor area. Some older project materials mention approximately 50,000 square metres of gross floor area. That figure is not directly comparable with the latest announcement’s 47,000-plus square metres of net leasable area.The announced purchase price is AED 918 million
The acquisition price was AED 918 million. Independent Reuters/Refinitiv coverage reported the value as approximately US$250 million. The dollar figure is a rounded currency equivalent rather than a separately announced purchase price.
The public announcement does not reveal the seller, financing arrangements, transaction advisers, acquisition yield or the amount contributed separately by Aldar and Mubadala. It also does not provide a separate legal closing date. Therefore, the transaction should be described as announced on 16 September 2026, while the property’s construction completion is separately identified as Q1 2026.
Aldar and Mubadala are investing through their 2024 joint venture
The buyers are Aldar Properties and Mubadala Investment Company, acting through their Masdar City-focused joint venture.
Aldar is an Abu Dhabi-based real estate developer, investor and asset-management company. Mubadala is an Abu Dhabi sovereign investor. Their broader strategic partnership, announced in 2024, covers four joint ventures intended to develop and manage major Abu Dhabi real estate assets.
The 2024 partnership announcement described the overall partnership as 60% owned by Aldar and 40% by Mubadala. However, the 2026 Masdar City Square announcement does not restate that ratio specifically for this acquisition. It is therefore more accurate to present 60:40 as the ownership structure reported in the 2024 partnership announcement, not as a newly disclosed transaction term.
Masdar City is the location of the property and a subsidiary of Mubadala Investment Company. The acquisition announcement does not identify Masdar City as a separate acquiring party.
The office complex was 99% occupied at announcement
Masdar City Square was reported to be 99% occupied at the time of the acquisition announcement. This indicates that the asset was already substantially leased when it entered the joint venture’s portfolio.
The officially named tenants include TAQA, the Abu Dhabi Department of Energy, Emirates College, and Mohamed bin Zayed University of Artificial Intelligence. The release does not publish a complete tenant schedule, individual floor areas or the commercial terms of the leases.
Other organisations mentioned in connection with the wider Masdar City joint venture portfolio should not automatically be described as tenants of Masdar City Square.
Sustainability and smart-building features support the project’s positioning
According to the official announcement, Masdar City Square includes solar photovoltaic systems, passive-cooling techniques and a net-zero-energy headquarters building for the Abu Dhabi Department of Energy. The release also describes the complex as holding or being designed for LEED Platinum and WELL Gold credentials.
Masdar City has also listed the development among projects associated with WiredScore Platinum and SmartScore Gold certifications. These certifications relate to digital connectivity and smart-building capabilities.
For precise reporting, the certification wording should be attributed to the official sources. The announcement uses both language indicating that the complex holds the credentials and language describing the design as intended to achieve them. The reviewed sources do not independently confirm the award dates or provide third-party certification records.
The acquisition expands an existing AED 4.7 billion portfolio
The acquisition expands the Masdar City-focused joint venture’s stated portfolio to AED 4.7 billion. The portfolio is reported to include more than 158,000 square metres of commercial net leasable area, a weighted average unexpired lease term of approximately 5.2 years, more than 1,400 fully occupied residential units, 17 Masdar City Green REIT assets and The Link at Masdar City.
This means the deal is not simply a purchase of an empty development site. It adds a recently completed and highly occupied office complex to an existing mixed commercial and residential investment platform.
The 2024 announcement referred to an intended Masdar City portfolio with a different scope and target value. Those earlier plans should not be compared directly with the 2026 figures without accounting for changes in asset contributions, completion timing and the distinction between commercial net leasable area and the wider mixed-use portfolio.
The transaction strengthens Abu Dhabi’s innovation-focused commercial property base
The acquisition reflects institutional investment in commercial property connected to sectors that Abu Dhabi is seeking to develop, including clean energy, artificial intelligence, advanced research and technology.
A high-occupancy office complex can provide the joint venture with rental income while placing the investment inside one of Abu Dhabi’s best-known sustainability and innovation districts. The transaction also strengthens the presence of major local institutions in the commercial real estate supporting the knowledge economy.
The deal should not, by itself, be treated as proof that Abu Dhabi’s entire office market is rising. The public announcements do not provide enough information to calculate a market benchmark. They do not disclose the property’s rental income, capitalisation rate, independent valuation, tenant lease terms or comparable sales.
The evidence supports a more specific conclusion: Aldar and Mubadala are increasing their exposure to a completed, nearly fully occupied office asset in a strategically important Abu Dhabi district.
Masdar City Square is not a new project launch
The latest transaction announcement states that the seven buildings were completed in Q1 2026. Some older Masdar City webpages and brochures may still label the project as upcoming because those materials predate completion. The September 2026 acquisition announcement is the more current source for the asset’s status.
The acquisition announcement does not disclose a new construction phase, major refurbishment programme, expansion schedule or additional development budget for Masdar City Square.
The deal’s confirmed details in one place
The transaction was announced on 16 September 2026. Aldar and Mubadala are the buyers, acting through their Masdar City-focused joint venture. The stated purchase price is AED 918 million, and the acquired complex contains seven office buildings with more than 47,000 square metres of net leasable area.
The buildings were completed in Q1 2026 and were reported to be 99% occupied. The named tenants are TAQA, the Abu Dhabi Department of Energy, Emirates College and Mohamed bin Zayed University of Artificial Intelligence. The joint venture’s stated Masdar City portfolio is now valued at AED 4.7 billion.
The public information does not confirm the seller, financing structure, individual lease terms, independent valuation, transaction yield or separate legal closing date. These details should not be added to the article unless they are published in a later official announcement or regulatory filing.
Conclusion
The AED 918 million acquisition of Masdar City Square gives Aldar and Mubadala’s joint venture a completed, seven-building office complex with more than 47,000 square metres of net leasable area and 99% reported occupancy.
The property’s tenant profile and location connect it to Abu Dhabi’s clean-energy, artificial-intelligence, research and technology sectors. Its sustainability and smart-building features also align with Masdar City’s wider development vision.
For readers and investors, the key point is that this is a portfolio-expansion transaction involving an operating commercial asset, not a new project launch. Important financial details, including the seller, financing, rental income and independent valuation, remain undisclosed in the available public announcements.
Aldar Properties and Mubadala Investment Company acquired Masdar City Square through their Masdar City-focused joint venture established in 2024.
The announced acquisition price was AED 918 million, equivalent to approximately US$250 million.
Masdar City Square includes seven completed office buildings with more than 47,000 square metres of net leasable area and was reported to be 99% occupied.
The acquisition adds a highly occupied Grade A office asset to one of Abu Dhabi’s key innovation and sustainability districts. Investors can also explore commercial properties in Abu Dhabi for wider market opportunities.
No. The seven buildings were completed in Q1 2026, so the transaction is an acquisition of an operating commercial asset rather than a new launch. For more Abu Dhabi real estate insights, visit Ayman Sadieh.
