Abu Dhabi, UAE: Aldar Properties (“Aldar”) today announced its Foreign Ownership Limit (FOL) has been increased to 49%, from 40%, following completion of all regulatory formalities and will be implemented for trading effective today. This follows shareholder approval of the increase at Aldar’s 2018 Annual General Meeting, which was held on 21 March 2018.
Talal Al Dhiyebi, CEO of Aldar commented: “Active engagement with international investors has been an important focus for Aldar over the past few years and we have seen significant growth in our international shareholding over this time. The increase in our Foreign Ownership Limit to 49% will support further growth in our international shareholding, as well as providing greater liquidity in the stock as we embark on our growth strategy within Abu Dhabi and beyond.”
Aldar actively participates in international investor roadshows to some of the world’s leading capital markets. Last month, Aldar joined a host of other Abu Dhabi Securities Exchange listed companies on a roadshow to New York where it presented Aldar’s equity proposition to a broad range of institutional investors.
The increase in the FOL is effective from Sunday 15 April 2018 and was implemented by the Abu Dhabi Securities Exchange (ADX).
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Aldar Properties PJSC is the leading real estate developer in Abu Dhabi with USD10 billion in assets, a 75 million sq. m land bank, and through its iconic developments, it is one of the most well known in the United Arab Emirates, and wider Middle East region.
From its beginnings in 2005 through to today, Aldar continues to shape and enhance the urban fabric of the UAE’s Capital City in addition to other key areas of the Emirate.
Aldar develops exciting and innovative projects, such as the internationally recognized HQ building situated in the Al Raha Beach development, the Gate Towers in Shams Abu Dhabi on Al Reem Island, in addition to Yas Island’s F1 circuit.
Aldar’s shares are traded on the Abu Dhabi Securities Exchange (Stock quote: ALDAR:UH), and is a profitable, cash generative business that provides recurring revenues, and benefits from a diverse and supportive shareholder base. Aldar operates according to high standards of corporate governance and is committed to operating a long term and sustainable business in order to provide ongoing value for its shareholders.
Aldar seeks to create quality, comfortable, desirable destinations that enrich the lives of Abu Dhabi residents as well as tourists within the Emirate. Aldar is playing a leading role in the development and provision of world class retail - Yas Mall, international standard education through Aldar Academies, iconic entertainment venues such as the Yas Marina Circuit, and community amenities across its entire portfolio.
Aldar is driven by a vision to be the most trusted and recognized real estate lifestyle developer in Abu Dhabi and beyond.