Media ININ Economy We Trust
Media In – Abu Dhabi 7 August 2018
Aldar Properties posted a 5% growth in total profits of AED 1.4 billion in the first half of 2018 compared to AED 1.3 billion in the first half of 2017. It also reported a 20% growth in gross profit for the second quarter of 2018, which stood at AED 649 million compared to AED 542 million in the second quarter of 2017. The gross profit margin grew by 46 per cent compared to 44 per cent in the first half of 2017, supported by higher margins on sales of projects and land plots. Revenue for the second quarter of 2018 rose by 12 per cent to 1.5 billion dirhams compared to 1.4 billion dirhams in the second quarter of 2017, supported by the recent acquisition of real estate assets. “Aldar has achieved a strong performance during the first half of 2018 and has achieved many successes and exceptional achievements. It has launched a new master plan to expand the Ghadeer project within its business development plans. On the other hand, Through the commencement of delivery of plots of land and villas on the island of Naril and the countryside and West Yas. He added that the company has proved its position as an investment property company in Abu Dhabi after successful completion of one of the largest real estate acquisitions in the history of the country, a deal that was completed within 60 days from the date of the announcement.
