Property News · November 8, 2016

Aldar Properties Q3 net profit up 16 per cent


Aldar Properties, Abu Dhabi’s biggest publicly traded real estate company, said its net profit in the third quarter increased 16 per cent amid high occupancy at rates at Yas Mall and across its office and residential properties. The company also said that it sold Dh1 billion of property off plan, meaning that buyers booked properties from the drawing board and will by and large pay in installments until it is completed. Net income for the three months ended September rose to Dh737 million from Dh638m in the same period last year. Revenues rose 61 per cent year-on-year in the third quarter to Dh1.9bn, it said. “We continue to see demand for high quality real estate in Abu Dhabi’s prime locations,” Mohamed Khalifa Al Mubarak, chief executive of Aldar Properties, said. “Our increasingly diverse buyer mix demonstrates we are bringing the right product, at the right price, in the right location and servicing previously untapped segments of the market where we see real demand.” mkassem@thenational.ae

Source : thenational.ae
Read more…Aldar Properties Q3 net profit up 16 per cent

You may also like...