Aldar Group has announced the acquisition of an integrated residential project and a community retail facility in Dubai Studio City from SRG, a private real estate developer, in a deal valued at AED 1.1 billion.

The project is scheduled for completion in 2028. It will include six mid-rise buildings featuring architectural designs inspired by sandstone. The buildings will also offer spacious balconies that extend the indoor living areas outdoors, with views of carefully landscaped areas within the community.

The project will comprise 312 residential units with varied layouts and sizes, including one-, two-, and three-bedroom apartments, as well as duplex units. This variety is designed to meet the needs of different residents, including individuals and families, within an integrated residential environment.

The project has also been designed to provide a comfortable lifestyle that supports residents’ daily needs within the same community. It will include a community retail centre featuring a selection of retail stores, restaurants, cafes, and entertainment facilities. In addition, the development will include a 16,000-square-metre internal park, offering outdoor activity areas, a jogging track, and a dedicated children’s play area.

Jassem Saleh Busaibe, Chief Executive Officer of Aldar Investment, said Dubai is a key market within Aldar’s plans. He explained that the acquisition reflects the group’s confidence in the strength of the emirate’s residential sector, as well as the importance of institutionally owned and professionally managed rental housing in meeting demand driven by population growth.

He added that Dubai Studio City benefits from advanced infrastructure, an active community, and strong connectivity, making it a suitable location for developing a high-quality residential project. He noted that the deal represents another step in Aldar’s strategy to build a diversified portfolio of income-generating assets in Dubai, with expectations that this portfolio will continue to grow as the emirate increasingly attracts residents and talent from around the world.

Aldar continues to expand its presence in Dubai through partnerships with developers that have strong experience and a proven track record in delivering mixed-use communities. The project’s developer has experience in delivering large-scale projects across the region, including residential towers, community retail destinations, and facilities that support quality of life.

The project enjoys a prominent location in Dubai Studio City, a residential area witnessing growing demand. It also benefits from established infrastructure and direct connectivity to Al Qudra Road and Hessa Street. The development is close to key destinations such as Motor City and Dubai Sports City, while also providing easy access to Dubai Autodrome, Dubai International Cricket Stadium, Dubai Butterfly Garden, and a number of schools and community facilities.

This deal further strengthens Aldar’s position in Dubai across several real estate sectors. Aldar Investment’s portfolio in the emirate includes residential, commercial, logistics, and mixed-use assets. These include a joint venture with Expo City Dubai, a commercial tower in Dubai International Financial Centre, a Grade A office tower on Sheikh Zayed Road, and logistics assets in the National Industries Park and Dubai South.

On the development side, the partnership between Aldar and Dubai Holding continues to make notable progress, following the launch of three master-planned residential communities and the expansion of the future project pipeline to include more than 2.3 million square metres of new gross floor area, supporting the objectives of the Dubai Urban Master Plan 2040.

This acquisition highlights Aldar’s measured approach to expanding in Dubai, particularly in the residential rental sector, with a focus on assets that generate recurring income and serve residents’ needs within integrated communities.