Danube Properties signs $228.7mn land sale agreement with AD Ports Group

AD Ports Group has signed a land sale agreement worth AED840 million ($228.7 million) with Danube Properties for developing a major residential and mixed-use project on approximately one million square metres of freehold land within KEZAD Town Centre.

This is part of AD Ports Group’s land monetisation strategy and the phased acceleration of the Town Centre development, which spans a total area of nearly 16 square kilometres. The project is designed to establish a vibrant residential and lifestyle destination within close proximity to KEZAD’s industrial and business clusters.

The transaction represents the second land sale completed within the KEZAD Town Centre masterplan, following the earlier deal with Mira Developments last October.

The proceeds from the transaction will be collected over a period of four years, with a 10 per cent down payment, and will support the Group’s efforts to continue to deleverage its balance sheet, enhancing its liquidity position and financial flexibility.

KEZAD Town Centre development accelerates

Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, said: “Our land sale agreement with Danube Properties marks another significant milestone in the development of KEZAD Town Centre and underscores the strength of our long-term master planning approach.

“Achieving a higher land value in this second transaction reflects growing market confidence in the Town Centre vision and its role in creating integrated, liveable communities that support Abu Dhabi’s economic growth, in line with the wise vision of our leadership.”

“By accelerating land monetisation and attracting established developers with strong delivery track records, we are unlocking hidden value from our landbank in Abu Dhabi, while ensuring that development remains fully aligned with infrastructure readiness, planning standards, and the evolving needs of our communities.”

Rizwan Sajan, Founder and Chairman, Danube Group, added: “We are proud to partner with AD Ports Group on this important development within KEZAD Town Centre. The location, scale, and long-term vision of the project align strongly with our commitment to delivering high-quality residential and mixed-use communities.

“This agreement provides a solid foundation for a development that will meet market demand and contribute meaningfully to the growth of this emerging destination.”

A subsidiary of the Danube Group, Danube Properties is one of the UAE’s leading private real estate developers. Established by Sajan in 1993, the company has launched 40 projects, with 20 successfully delivered.

The KEZAD Town Centre development is planned as a multi-phase district combining residential, commercial, and lifestyle components, supported by primary infrastructure, utilities, and connectivity delivered in line with the approved masterplan.