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Abu Dhabi, United Arab Emirates
Abu Dhabi continues to confirm the strength of its economic components, based on a well-defined long-term vision, continuous investments in infrastructure, upgrading of a modern lifestyle, and building a sophisticated business environment. These elements continue to entrench the attractiveness of the emirate as a destination for living, working and investing.
Aldar’s performance reflects the strength of these elements, along with the well-thought-out investment decisions we have made over the years to build a more diverse and flexible business ecosystem. With the accumulated revenue balance of our development projects reaching AED 71.6 billion and the value of assets managed to AED 57 billion, we have succeeded in building a strong business base that provides a clear vision of future profit prospects.
As Abu Dhabi’s economic, social and cultural ambitions accelerate, we continue to focus on contributing to its development through strategic partnerships, disciplined investment, and the development of high-quality communities and assets that deliver sustainable value to our shareholders and the individuals and communities we serve.”
Talal Al Dhiabi Group CEO
Aldar’s performance during the first nine months of the year reflects the growing strength and maturity of our business, and our ability to maintain growth and deal with market variables with a disciplined approach. Having taken a thoughtful approach to the launch of new projects during the first half, we accelerated the pace of the launch in the third quarter. Demand for our new residential projects remains strong, with international buyers and foreign residents accounting for 78 per cent of sales of our development projects in the UAE, confirming Abu Dhabi’s continued attractiveness to a wide variety of buyers.
In addition to this momentum, we continue to focus on the completion of our development projects, which constitute a large portfolio of accumulated revenue, while the investments we have made in recent years are increasingly contributing to our recurrent income-generating business in the Group’s profits. The AED 21.3 billion ‘Development and Retention’ portfolio provides us with additional opportunities to grow and diversify sources of this income, enhancing our business resilience and supporting its growth in the coming years.
We begin the fourth quarter with a clear focus on implementing our plans, translating continued customer demand into sales, and moving forward with the completion of our two growing portfolios of development and investment projects. Our wide and diverse ecosystem gives us strong potential to keep growing and capitalize on new opportunities, while continuing to commit to a disciplined approach to capital employment and long-term sustainable value.”
The House for Development
This core unit consists of three main sections: the Real Estate Development and Sales Division, which focuses on the development and sale of outstanding real estate projects in the most attractive residential communities in the UAE, the Project Management Services Division, which is the Group’s specialized arm for project implementation and management, and the International Business Division, which is responsible for overseeing the real estate development and sales activities of Sodic in Egypt and London Square in the UK.
Aldar is a leading real estate development, management and investment company in Abu Dhabi, with a growing presence across the UAE, the Middle East, North Africa and Europe. The company operates through two key business sectors, Aldar Development and Aldar Investment.
Aldar Developments is developing integrated and prosperous communities in the most attractive destinations in Abu Dhabi, Dubai and Ras Al Khaimah, taking advantage of its huge portfolio of land in strategic locations with a total area of 72.1 million square meters. Aldar Enterprises manages the handover of Aldar’s projects and is a key partner of the Government of Abu Dhabi in the implementation of housing projects for citizens and infrastructure projects throughout Abu Dhabi. Internationally, Aldar Developments is fully owned by the British real estate developer London Square, in addition to a majority stake in 6th of October Development and Investment Company (SODIC), the leading real estate developer in Egypt.
Aldar Investments includes Aldar Group’s Asset Management Unit, which includes a AED 57 billion portfolio of recurrent regreed real estate assets in the retail, residential and commercial communities, industrial and logistics assets, hospitality, real estate and utilities management, and education. Aldar Investments manages four platforms: Aldar Real Estate Investment, Aldar Hospitality, Al Dar Education and Aldar Properties.
For more Information contact: www.dxrprop.ae
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Email: alnashra2013@gmail.com
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