Masdar and The Link Deal
- Aldar and Mubadala acquired The Link at Masdar City, while Masdar announced a joint venture to develop renewables abroad. - The Link changed hands for AED654m (about $178m), and Masdar partnered with Montenegro’s EPCG on large-scale renewable projects. - The transaction and overseas JV show Abu Dhabi exporting clean-energy project capability and building sustainability-branded real-estate clusters internationally ( ).
Aldar and Mubadala bought The Link at Masdar City for AED654 million this week, as Masdar signed a new Montenegro renewables venture a day later. (aldar.com) Aldar and Mubadala said on April 21 that their 2024 joint venture completed the purchase of The Link, a fully leased mixed-use asset in Abu Dhabi’s Masdar City, for AED654 million, or about $178 million. (mubadala.com) The asset is anchored by Masdar and Mohamed bin Zayed University of Artificial Intelligence, and Aldar described it as part of Abu Dhabi’s clean-energy and artificial-intelligence cluster. (aldar.com) On April 22, Abu Dhabi Future Energy Company, known as Masdar, and Montenegro’s state utility Elektroprivreda Crne Gore agreed to form a 50/50 joint venture to develop large-scale renewable energy projects in Montenegro. (wam.ae) Masdar and Elektroprivreda Crne Gore said the venture is meant to support Montenegro’s domestic power needs and create capacity that can export electricity into the Western Balkans and Southern Europe. (zawya.com) The two announcements connect Abu Dhabi’s domestic sustainability district with Masdar’s overseas expansion plan. Masdar chief executive Mohamed Jameel Al Ramahi said Europe is a “strategic growth market” as the company works toward a 100-gigawatt target by 2030. (agbi.com) Masdar City has spent nearly two decades positioning itself as a test bed for low-carbon offices, research tenants and clean-tech companies, while Aldar and Mubadala have been building a larger income-producing property portfolio through their real-estate partnership. (masdarcity.ae; aldar.com) Montenegro is not a first step for Masdar. The company said the new venture builds on its existing presence in the country, including its 2018 investment in the 72-megawatt Krnovo Wind Farm, which AGBI described as Montenegro’s largest operating wind project. (masdar.ae; agbi.com) The immediate result is that one Masdar-branded site changed owners inside Abu Dhabi, while the Masdar operating company moved to build new generation capacity abroad. Together, the deals put real estate, power development and state-backed capital on the same map. (wam.ae; wam.ae)
