Abu Dhabi – Mubasher: Aldar Properties on Wednesday completed takeover of International Tower at a value of AED 658 million.

This transaction will boost the firm’s asset management strategy which aims to enhance and increase the net operating income, according to a statement to Abu Dhabi Securities Exchange (ADX).

The international Tower is located in Capital Gate district in Abu Dhabi and it spans an area of 39,000 square metres which are allocated for commercial leasing for Grade A.

“The acquisition of International Tower clearly demonstrates our belief in the strength of Abu Dhabi’s commercial real estate market,” Aldar Properties’ CEO, Talal Al Dhiyebi said.