Abu Dhabi - Mubasher: Abu Dhabi Ports Company (AD Ports) has signed an AED 2.47 billion land sale agreement with Mira Developments to develop one of Abu Dhabi’s largest mixed-use communities in the Al Mamoura district.

The site, part of the group’s 16-square-kilometre Town Centre Area, is strategically located along the Dubai–Abu Dhabi highway, according to a press release.

It will be developed over 10 years, with construction scheduled to begin within 12 months of the agreement’s effective date, 29 September 2025.

The large-scale community will be a key driver of sustainable urban growth and real estate development in Abu Dhabi.

It supports  AD Ports’ diversification, boosting its finances and attracting long-term investments. This is in addition to unlocking new value from its land portfolio, paving the way for reinvestment into high-impact infrastructure, logistics, and trade projects.

Mohamed Juma Al Shamsi, Managing Director and Group CEO of AD Ports, said: “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.”

He added: “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.”

The project will reshape Abu Dhabi’s real estate scene with homes, offices, leisure spaces, a major mall, hotels, golf courses, and educational facilities.

Timur Mamaikhanov, Co-Founder and CEO at Mira Developments, noted: "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.”

In the first six months (6M) of 2025, AD Ports registered 8% year-on-year (YoY) higher net profits valued at AED 908.26 million, compared to AED 838.83 million.