Leading Abu Dhabi real estate group Aldar has signed a strategic AED2.3 billion ($626 million) deal with Dubai-based H&H Development for one of the largest commercial tower acquisitions registered in Dubai International Financial Centre (DIFC).

The deal will harness the combined expertise of Aldar and H&H Development to bring forward a world-class development that will set a new standard for commercial space in the region, said Aldar.

Designed by renowned architectural firm Herzog & de Meuron, the tower is targeting LEED Platinum certification, reinforcing Aldar and H&H Development’s shared commitment to sustainable building.

Located within DIFC and set for completion in 2028, the landmark tower will include commercial and retail space split across 40 floors. 

With flexible floorplates for tenant customisation, the tower will offer a blend of multi-tenanted and single-tenanted spaces to suit diverse leasing needs. Its prime location provides easy access to top-tier dining, retail, and leisure destinations, and with direct access to Sheikh Zayed Road and excellent transport links, the tower offers outstanding connectivity to the rest of the city.

A premier real estate developer in Dubai, H&H is renowned for its key projects in DIFC, including the Four Seasons Hotel Dubai International Financial Centre and the upcoming Janu Hotel and Residences, which is adjacent to the commercial tower acquired by Aldar.

The transaction reflects Aldar’s commitment to further scaling its Grade A commercial portfolio and positions the company as the only UAE developer with commercial assets in both ADGM and DIFC –  the UAE’s premier financial centres, it said.

The acquisition complements Aldar’s growing footprint in the emirate, after its recent expansion into Dubai’s commercial real estate market with the acquisition of 6 Falak, the development of an iconic Grade A office tower on Sheikh Zayed Road, and a mixed-use joint venture with Expo City Dubai, said the developer.