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Aldar Investment Company, a subsidiary of Aldar Properties, has announced the completion of the sale of the Al Morgan residential tower In Abu Dhabi, 289 million dirhams.
The company said in a statement to the Abu Dhabi Stock Exchange that the "Coral Tower" had been sold with a return of 6.6%.
The Coral Tower comprises 252 residential units spread over 23 floors and the ground floor comprises 10 units with an area of 1022 square meters. The office covers 1481 square meters and has 8 units.
The tower is part of a master plan that includes a swimming pool, three floors of parking and many outdoor recreation facilities.
This deal is the second for Aldar since its launch in September 2018 after the company's announcement of the acquisition of Etihad's real estate assets in February.
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