U.S. Aldar Investment to buy Etihad's properties in $327 mln deal

02/27/2019 6:37:00 PM (GMT)

U.S. property developer Aldar Investment Properties, a subsidiary of Abu Dhabi-based Aldar Properties PJSC, plans to acquire Etihad Plaza and Etihad Airways Centre in a 1.2 billion Dirham ($327 million) deal with Etihad Airways.

The transaction will allow the company to drive value and enable greater capital efficiency and grow net operating income.

Located within one of Aldar’s completed developments in Al Raha Beach, Al Muneera, Etihad Airways Centre comprises mostly office space and a retail offering.

The move is expected to close in the second quarter of 2019.

Aldar Properties PJSC.

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