Aldar reports 62% year-on-year increase in net profit

Aldar reports 62% year-on-year increase in net profit

Recent Group Highlights

Aldar is delivering on its transformational growth strategy with over AED 11 billion announced transactions in H1 2022 across logistics, commercial, retail, and hospitality sectors, as well as geographic expansion

AED 5 billion of further equity capital to be deployed over the next 12 months.

Landmark US$1.4 billion transaction with Apollo Global Management provides significant firepower to strengthen and accelerate long-term growth.

Acquisition of a 6.2 million square metre land plot on Saadiyat Island bolsters Aldar’s land bank for future development.

Record half-year Group sales of AED 5.33 billion, driven by strong local and international demand for existing inventory and new property launches in the UAE as well as robust sales from SODIC.

Significant ramp-up of the fee-based business with projects backlog of AED 57.6 billion.

Acquisition of Abu Dhabi Global Market (ADGM) office towers for AED 4.3 billion – one of the largest real estate transactions in the UAE.

Strong liquidity position, with AED 6.0 billion of free cash and AED 4.9 billion of committed undrawn facilities.

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