Abu Dhabi, UAE:

  • Revenue for quarter ended 31 March 2021 increased 16% year on year (YoY) to AED 2.0 billion and gross profit rose 11% to AED 776 million
  • Strong Group financial performance driven by a 47% YoY increase in revenue at Aldar Development, while Aldar Investment recorded stable recurring income
  • Aldar Development achieved property sales of above AED 1 billion for the third consecutive quarter, demonstrating the ability of the business to unlock demand for prime real estate in Abu Dhabi
  • Aldar Investment net operating income (NOI) flat YoY driven by stable occupancy, operational resilience, and effective cost optimisation measures
  • Confidence in Abu Dhabi’s real estate market is underpinned by the UAE’s world-leading record in vaccination rates, at over 100 doses per 100 people with almost 70% of the population that are eligible to receive the vaccine immunized, positioning Abu Dhabi for a strong demand led recovery   

Read the full report here.

-Ends-

About Aldar 

Aldar Properties PJSC is the leading real estate developer and manager in the UAE with a diversified and sustainable operating model centered around two core businesses: Aldar Development and Aldar Investment.

Aldar Development is a master developer of integrated, liveable, and thriving communities across Abu Dhabi’s most desirable destinations, including Yas Island, Saadiyat Island, Al Raha, and Reem Island. It is responsible for developing Aldar’s c. 65 million sqm land bank and includes three businesses: Aldar Projects, which manages Aldar's fee-based development management business, including AED 45 billion of government housing and infrastructure projects; Aldar Ventures, which incubates and nurtures new business opportunities and innovation areas; and Aldar Egypt, the platform focused on developing mixed-use communities in Egypt.

Aldar Investment houses Aldar’s core asset management business comprising an AED 16 billion portfolio of investment grade and income-generating real estate assets diversified across retail, residential and commercial segments. It also manages three core platforms: Aldar Education, Aldar Principal Investments, and Aldar Hospitality and Leisure. Aldar Education includes Aldar’s entire educational portfolio, including Aldar Academies, the leading education group in Abu Dhabi, with 20 schools which caters for the education of more than 25,000 students. Aldar Principal Investments, which includes several strategic businesses within the property management, facilities management, and construction sectors, comprises Provis, Khidmah, Pivot, and The Cloud. Aldar Hospitality and Leisure looks after Aldar’s portfolio of hotel and leisure assets, which are anchored around Yas Island and Saadiyat. It includes Aldar’s portfolio of 10 hotels, comprising over 2,900 hotel keys and managing operations across golf courses, beach clubs and marinas.

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 is driven by a vision to be a leading real estate developer and manager in the region by playing a key role in the development of quality, comfortable, desirable destinations that people can live in, work at and visit.

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