ABU DHABI- Shareholders of Aldar Properties approved on Wednesday to increase foreign ownership of the Abu Dhabi-listed developer to 49 percent from 40 percent, said a source familiar with the matter.

Aldar got approval from shareholders to raise the limit at its annual general meeting, the source said.

(Reporting by Stanley Carvalho, writing by Alexander Cornwell; Editing by Saeed Azhar) ((Alexander.Cornwell@thomsonreuters.com;))