UAE master-developer Aldar’s bandwagon picked up speed in 2022

UAE master-developer Aldar’s bandwagon picked up speed in 2022

Incorporated in 2005, Aldar Properties, which now comes with a market cap of Dh37.5 billion, has created a unique business model. Comprising two core operations, Aldar has a large and diverse income-generating investment portfolio and a development business of eye-catching destinations and overseeing these. Aldar Investment holds over Dh32 billion in assets, including commercial properties and hospitality. On the other hand, the Aldar Development’s expertise lies in creating iconic, integrated, and thriving communities within Abu Dhabi. The company has been in the headlines for a stellar 2022 performance, the entry into the Ras Al Khaimah, and the planned one in Dubai. There was also recent acquisitions of Al Fahid Island in Abu Dhabi and a new waterfront development in Ras Al Khaimah. The development business witnessed the highest-ever annual group sales of Dh14.4 billion, double that in 2021 and quadruple the 14-15 year average of $1 billion of annual sales before 2020. This impressive performance was driven by strong resident and investor demand across existing inventory, new launches in Abu Dhabi, and contributions from Egypt. The total UAE sales increased by 52 per cent year-on-year to a record Dh11 billion, thanks to nine new developments launched in the the UAE,