ALDAR Properties

The UAE-based ALDAR Properties (ALDAR) is a multi-line conglomerate involved in real estate property investment, development and management, as well as business and brokerage services.

Through its subsidiaries, the group owns and operates resorts, hotels, malls, amusement parks, sport clubs, specialized retail car outlets and schools. ALDAR subsidiaries also provide: civil contracting for residential and commercial buildings and manufacture of concrete and plumbing equipment; commercial lending services, personal and business lease financing facilities, investment banking including investment advisory on mergers and acquisition, IPO and underwriting; communication infrastructure and services for automated meter reading and revenue collection; and online project management and payment services, as well as yacht rental services.

ALDAR’s projects total approximately AED275.5 billion (USD75 billion) across a diverse property development portfolio in UAE, as of 2010.

Among the notables is Yas Island, valued at AED146.92 billion (USD40 billion), one of the largest real estate projects in the region, with a total land area of 25 million sq. m (270 million sq. ft.). When completed in 2015, the Island would be include such attractions as the world's first 'Ferrari World' theme park, a water park and Yas Mall, which covers an area of 1.2 million sq. m (12.92 million sq. ft.). The first phase of the project was completed in 2009 with the inauguration of the Yas Circuit, which will host the Abu Dhabi Formula 1 Grand Prix.

Another flagship project is Al Raha Beach, a residential and commercial development with a total area of 6 million sq. m (64.58 million sq. ft.) and 11 km (6.84 miles) of coastline, worth AED55 billion (USD15 billion). Al Raha Beach is expected to be completed in 2019 and would include a waterfront city with residential housing for 120,000 residents. The development would also consist of eleven precincts with master planned communities featuring unique residential, business, educational and entertainment facilities supported by modern infrastructure.

ALDAR’s annual profits dropped by 1,611% to AED12.66 billion (USD3.45 billion) after recognizing impairments and fair value losses; its revenues decreased by 9.51% to AED1.79 billion (USD487.34 million) in 2010.