AD Ports Group Finalises AED 2.47 Billion Land Sale Agreement With Mira Developments For Major Abu Dhabi Project

AD Ports Group has entered into a land sale agreement with Mira Developments LLC to develop a major mixed-use community in Abu Dhabi's Al Mamoura district. This project, valued at AED2.47 billion, is part of the Group’s 16 square-kilometre Town Centre Area along the Dubai–Abu Dhabi highway. Construction is set to begin within a year, with completion expected by 29th September 2025.

The agreement highlights AD Ports Group's growth strategy and its ability to draw strategic investments to Abu Dhabi. It also strengthens the Group’s financial position by unlocking new value from its land portfolio. The proceeds will be used for debt reduction and reinvestment into infrastructure, logistics, and trade facilitation projects.

This large-scale project will introduce a premier community featuring residential, commercial, and leisure facilities. It will include one of the region’s largest shopping malls, a business complex, hotels, world-class golf courses, and educational institutions like universities and schools. The development reflects the growing demand for high-quality projects in Abu Dhabi.

Captain Mohamed Juma Al Shamsi, Managing Director and Group CEO of AD Ports Group, stated: "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."

The project aims to create a vibrant residential and lifestyle hub in one of Abu Dhabi's key locations. It will transform Al Mamoura into a destination where business and community life can thrive together. This initiative aligns with Abu Dhabi's vision for economic diversification and sustainable urban development.

Timur Mamaikhanov, Co-Founder and CEO of Mira Developments LLC, expressed enthusiasm about the partnership: "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."

This collaboration between AD Ports Group and Mira Developments marks a significant milestone in their journey towards creating sustainable urban environments. By establishing this mixed-use community, they aim to deliver lasting economic and social value for Abu Dhabi while setting new standards for quality living.

With inputs from WAM