AD Ports signs $672m land sale deal with Mira Developments

07/10/2025 05:52 AST

AD Ports Group, a leading global enabler of trade, logistics and industry, has signed a land sale agreement with Mira Developments, for the development of one of the largest mixed-use communities in the Al Mamoura district of Abu Dhabi.

The land forms part of the group's 16 sq km Town Centre Area and is strategically located along the Dubai-Abu Dhabi highway.

Valued at AED2.47 billion ($672.57 billion), the strategic agreement will see the development of a large-scale, fully integrated community over the next decade, with construction scheduled to commence within 12 months and completion expected within 10 years from the agreement's effective date of September 29, 2025.

The agreement marks a significant milestones 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.

Beyond strengthening the group's financial position, the transaction 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, AD Ports said.

Captain Mohamed Juma Al Shamsi, Managing Director and Group CEO, AD Ports Group, said: "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, in line with the vision of our wise leadership."

This transformative project will significantly enhance Abu Dhabi's real estate landscape, introducing a premier community that combines residential, commercial, and leisure facilities. It will feature one of the region's largest shopping malls, along with a business complex, hotels, world class golf courses, and educational institutions including universities and schools. The development reflects the increasing demand for high-quality developments in the capital and underscores the confidence of international developers in the Emirate's long-term economic vision.

Timur Mamaikhanov, Co-Founder and CEO, Mira Developments, said: "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. We have full confidence in Abu Dhabi's thriving real estate market and look forward to a successful collaboration with AD Ports Group."

This partnership will set a new standard for community development in the UAE capital. The project will establish a vibrant residential and lifestyle hub to one of Abu Dhabi's key locations, creating a more balanced and dynamic environment, transforming Al Mamoura into a destination where business and community life can thrive together.

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