AD Ports Group enters into land sale agreement with Mira Developments
The strategic agreement, valued at US $672mn, will lead to the development of a large-scale, fully integrated community over the next decade
AD Ports Group has entered into a land sale agreement with Mira Developments. The agreement aims to develop one of the largest mixed-use communities in the Al Mamoura district of Abu Dhabi. The land, part of the group’s 16sqkm Town Centre Area, is located along the Dubai Abu Dhabi highway.
The strategic agreement, valued at US $672mn, will lead to the development of a large-scale, fully integrated community over the next decade. Construction is scheduled to commence within 12 months, with completion expected within 10 years from the agreement’s effective date.
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.”
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. We have full confidence in Abu Dhabi’s thriving real estate market and look forward to a successful collaboration with AD Ports Group.”
This commitment to the established timeline underscores the project’s importance for driving sustainable development and transforming the urban sector. This agreement marks a significant milestone in AD Ports Group’s growth journey. It reinforces the company’s position as a diversified and future-focused entity, attracting investments to the Emirate. Beyond strengthening the group’s financial position, the transaction unlocks new value from its extensive land portfolio. This enables the accelerated development of the master plan and the redeployment of capital into high-impact infrastructure, logistics, and trade facilitation projects, the statement said.
This project will 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.
This partnership will set a new standard for community development in the UAE capital. The project will establish a 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.
