Aldar reports 22% jump in Q1 net profit with sales of AED4.5b

Aldar reports 22% jump in Q1 net profit with sales of AED4.5b

Local News, Uncategorized















ABU DHABI / WAM

Aldar Properties has announced a series of achievements and strategic initiatives in its latest quarterly report. The company’s strong performance was driven by increased demand from both international and resident expat buyers, with record quarterly development sales of AED4.5 billion.

Aldar’s development revenue backlog also hit an all-time high of AED18.8 billion, which provides visibility

over the next 2-3 years. The company’s expansion plans include the acquisition of Al Fahid Island, which will add a unique waterfront offering to its development pipeline. Additionally, Aldar has entered the Dubai real estate market through a joint venture with Dubai Holding, which will see the development of three new communities across 3.5 million sqm of land.

Aldar has also partnered with Mubadala to develop commercial assets in Al Maryah Island, tapping into the high demand for prime office spaces in Abu Dhabi’s growing international finance centre.

The company’s diversified investment portfolio also performed well, with a buoyant rental market and rising occupancy across the portfolio. Recent acquisitions have also performed above expectations, adding to the company’s solid financial position.

Aldar Properties has maintained a healthy liquidity position with