UAE’s largest developer looking for assets to boost income

UAE’s largest developer looking for assets to boost income

Aldar Properties is looking into buying assets that would boost its management units as the largest listed developer in the UAE aims to take advantage of strains in the market.

“Times of crisis and dislocation always give rise to opportunities for corporate action or combination,” chief financial officer Greg Fewer said on a conference call on Thursday. “When you're a landlord, the cost of capital is one of your most important attributes. We have the lowest cost of capital.”

UAE developers often suffer from slumping demand for properties when oil prices are low and job creation lags. Growing their asset management businesses helps secure a steady stream of income at times of market downturn.

Stock market rally for Abu Dhabi-based Aldar lifts company value to about $5.4bn, ahead of the Burj Khalifa builder

Aldar,