Abu Dhabi Securities Exchange-listed AD Ports Group has finalised a land sale agreement with Danube Properties for a residential and mixed-use development within KEZAD Town Centre in Abu Dhabi.
The deal involves around one million m2 of freehold land, valued at approximately Dh840m ($228.73m).
This is the second land sale completed under the KEZAD Town Centre masterplan, following a previous transaction with Mira Developments in October.
Danube Properties will pay for the land over four years, starting with a 10% downpayment.
Funds from the sale will contribute to AD Ports Group’s ongoing plans to reduce debt and strengthen its liquidity and financial flexibility.
The transaction forms part of the company’s broader land monetisation strategy and aims to accelerate phased development across the 16km2 KEZAD Town Centre area.
The new project will add a mixed-use district featuring residential and lifestyle facilities located near KEZAD’s industrial and business clusters.
Danube Properties, which operates as a subsidiary of Danube Group, has undertaken 40 projects since its founding by Rizwan Sajan in 1993, delivering half of those with others under advanced construction.
AD Ports Group managing director and Group CEO Captain Mohamed Juma Al Shamisi 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.
“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.”
The KEZAD Town Centre development will proceed in multiple phases and incorporate residential, commercial, and lifestyle elements supported by essential infrastructure.
The project aims to establish an urban district adjacent to one of Abu Dhabi’s largest economic zones.
