Abu Dhabi’s AD Ports Group has signed one of the largest land sale agreements in the capital, valued at AED2.47 billion (US$670 million) with Mira Developments.
The land, which forms part of the Group’s 16 square-kilometre Town Centre Area, is strategically located along the Dubai-Abu Dhabi highway. It will be used for the development of one of the largest mixed-use communities in Abu Dhabi’s Al Mamoura district.
The large-scale, fully integrated community will be built over the next decade, with construction scheduled to commence within 12 months.
Captain Mohamed Juma Al Shamsi, Managing Director and Group CEO, AD Ports Group, commented: “This landmark agreement with Mira Developments reflects the Group’s commitment to advancing the development of its land portfolio and attracting new investment. The significant land sale establishes a new source of income for the Group, with the proceeds strengthening the company’s financial position through debt reduction and reinvestment into growth projects.
“Together with Mira Developments, we are not merely developing one of Abu Dhabi’s largest mixed-use plots, we are shaping a high-quality, liveable community that supports economic diversification and delivers lasting economic and social value for Abu Dhabi.”
The agreement marks a significant milestone in AD Ports Group’s journey of growth, reinforcing its position as a diversified, future-focused company, and highlights its ability to attract strategic investments to the Emirate. It unlocks new value from its extensive land portfolio, accelerating the development of its master plan and enabling the redeployment of capital into high-impact infrastructure, logistics, and trade facilitation projects.
The project will feature one of the region’s largest shopping malls, along with a business complex, hotels, world-class golf courses, as well as universities and schools.
Timur Mamaikhanov, Co-Founder and CEO, Mira Developments, added: “We are pleased to partner with AD Ports Group on this transformative project. The Al Mamoura site is an exceptional location, and we are committed to developing a landmark mixed-use community that will set new standards for quality and lifestyle in Abu Dhabi.
“Our vision is to create a vibrant and dynamic destination that combines residential, commercial, and leisure facilities, and this agreement provides the foundation to bring that vision to life.”
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