Eshraq Investment sells Sas Al Nakhl plot in Abu Dhabi for $81.7mn

Abu Dhabi’s Eshraq Investments has entered into a sale and purchase agreement for the sale of a land plot located in Sas Al Nakhl area in the capital.

Eshraq informed Abu Dhabi Securities Exchange (ADX) through a mandatory filing that it has signed the agreement with A9 Downtown Holding Company for AED300 million (US$81.7 million).

The sale has been structured as an instalment plan over a 24-month payment period.

The sale marks a significant milestone in advancing Eshraq’s strategy to unlock value from its land portfolio and reflects the continued strong interest from investors and developers in prime real estate opportunities in Abu Dhabi, particularly in strategic locations.

Eshraq will use the proceeds from the transaction to support its future growth plans, including strengthening its investment portfolio.