Aldar signs more long-term bulk lease deals

Abu Dhabi developer says corporate leases range in length from two to 30 years
Aldar signs more long-term bulk lease deals
By Michael Fahy
Wed 20 Aug 2014 02:13 PM

Aldar Properties has seen a strong wave of demand for long-term, bulk lease deals for residential accommodation from corporate clients, the company said.

The Abu Dhabi-based developer said it is currently leasing 2,120 units to corporate clients, with the length of agreements for such deals ranging from two to 30 years.

Popular developments for clients have included Al Rayyana, The Gates Towers, The Arc, Sun and Sky Towers and Al Murjan Tower.

Up to 60 percent of the units in Al Rayyana and 45 percent of apartments at The Arc are leased on bulk deals, with clients including government entities in the education, defence and healthcare sectors.

Talal Al Dhiyebi, Aldar Properties' executive director of asset management, said: “All of our bulk leases have been won against a competitive backdrop, demonstrating the strength of the product offering. Our team is now looking at further strengthening its relationships through build-to-suit solutions that accommodate medium and long-term requirements."

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