Clifford Chance advising Aldar Properties on its AED3.7 billion acquisition of real estate assets from TDIC

Clifford Chance is advising Aldar Properties PJSC (Aldar Properties), a leading listed property development, investment and management company based in Abu Dhabi, on its acquisition of a portfolio of real estate assets from Tourism Development and Investment Company PJSC (TDIC) worth AED 3.7 billion; one of the largest real estate acquisitions in the history of the Middle East.

The assets comprise strategic land plots and projects under development, along with a range of operational assets in the hospitality, retail, residential, education and infrastructure sectors, all in Abu Dhabi with a focus on Saadiyat Island.

Saadiyat Island is a mixed-use commercial, residential and leisure master community and is anticipated to become Abu Dhabi’s cultural centre.

The Clifford Chance team was led by Corporate Partner, Mohammed Al-Shukairy and Head of Real Estate, Middle East, Tariq Imam. The team was supported by Gareth Dray and Charlotte Monk (Corporate, Dubai), Janeen Pickering and Nicola Birman (Real Estate, Dubai) and Tim Steadman and Katie Joukadjian (Construction, Abu Dhabi).