{"id":33577,"date":"2016-11-08T15:19:00","date_gmt":"2016-11-08T08:19:00","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/higher-occupancy-rates-boost-net-profit-for-aldar-properties\/"},"modified":"2016-11-09T00:25:19","modified_gmt":"2016-11-08T17:25:19","slug":"higher-occupancy-rates-boost-net-profit-for-aldar-properties","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/higher-occupancy-rates-boost-net-profit-for-aldar-properties\/","title":{"rendered":"Higher occupancy rates boost net profit for Aldar Properties"},"content":{"rendered":"


\nAldar Properties, Abu Dhabi’s biggest publicly traded real estate company, said its net profit in the third quarter increased by about 16 per cent amid high occupancy 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 instalments until it is completed. Net income for the three months to the end of September rose to Dh737 million from Dh638m in the same period last year. Revenues rose by 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,” said Mohamed Al Mubarak, the chief executive of Aldar Properties. “Our increasingly diverse buyer mix demonstrates we are bringing the right product, at the right price, in the right loca\u00adtion and servicing previously untapped segments of the market where we see real demand.”Yas Mall, the company’s flagship rental property, had a 96 per cent occupancy rate in the third quarter, while its residential portfolio rate stood at 94 per cent. Its office portfolio occupancy was 95 per cent. Greg Fewer, Aldar Properties’ chief financial officer, and \u00adTalal Al Dhiyebi, its chief development officer, said in a conference call after the results were released that there had been strong demand for villas in new projects on Yas Island because the average selling prices are considerably less than high-end villas elsewhere and that many of the buyers appeared to be end users rather than speculators.The company said that off-plan sales were driven by two projects, Yas Acres and Mayan, where about 90 per cent of the former’s first two phases have been sold and 80 per cent of the first phase of the latter has been sold. The buoyant results and sales come amid a slowdown in demand for property, both rental and sales, amid the oil price lull that has led an economic slowdown and job losses. According to property broker Cavendish Maxwell, apartment rents in Abu Dhabi’s five key investment areas all fell by between 0.8 per cent and 2.5 per cent in the third quarter. mkassem@thenational.aeFollow The National’s Business section on Twitter
\n
\nSource : thenational.ae
\nRead more…Higher occupancy rates boost net profit for Aldar Properties<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Aldar Properties, Abu Dhabi’s biggest publicly traded real estate company, said its net profit in...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-33577","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-8Jz","jetpack-related-posts":[{"id":33456,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/aldar-properties-q3-net-profit-up-16-per-cent\/","url_meta":{"origin":33577,"position":0},"title":"Aldar Properties Q3 net profit up 16 per cent","date":"November 8, 2016","format":false,"excerpt":"\r 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\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":33462,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/aldar-properties-third-quarter-net-profit-up-16-per-cent\/","url_meta":{"origin":33577,"position":1},"title":"Aldar Properties third-quarter net profit up 16 per cent","date":"November 8, 2016","format":false,"excerpt":"\r 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\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":12514,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/abu-dhabis-aldar-properties-q1-net-profit-gains-15-per-cent\/","url_meta":{"origin":33577,"position":2},"title":"Abu Dhabi's Aldar Properties Q1 net profit gains 15 per cent","date":"May 10, 2016","format":false,"excerpt":"\r Aldar Properties reported a 15 per cent year-on-year increase in net profit for the first quarter of 2016 to Dh654 million.The Abu Dhabi-based developer attributed the increase to a growth in its recurring revenue, which increased by 10 per cent to Dh403m, which was largely due to the fact\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":21638,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/abu-dhabis-aldar-properties-q2-net-profit-up-9-7-per-cent\/","url_meta":{"origin":33577,"position":3},"title":"Abu Dhabi's Aldar Properties Q2 net profit up 9.7 per cent","date":"August 2, 2016","format":false,"excerpt":"\r Aldar Properties, the state-linked builder of Abu Dhabi's Formula One circuit, reported a 9.7 per cent rise in second-quarter net profit on Tuesday, beating a forecast by investment bank SICO Bahrain.Aldar made a profit of Dh657.4 million in the three months to June 30, it said in a statement,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":12498,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/abu-dhabis-aldar-properties-q1-net-profit-gains-14-1-per-cent\/","url_meta":{"origin":33577,"position":4},"title":"Abu Dhabi's Aldar Properties Q1 net profit gains 14.1 per cent","date":"May 10, 2016","format":false,"excerpt":"\r Abu Dhabi's Aldar Properties reported a 14.1 per cent rise in first-quarter net profit on Tuesday, maintaining its run of improving earnings.The state-linked builder of Abu Dhabi's Formula One circuit, which reported higher profits in nine of the preceding 10 quarters, made a profit attributable to equity holders of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4783,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/abu-dhabis-aldar-properties-q4-profit-rises-9-1-per-cent\/","url_meta":{"origin":33577,"position":5},"title":"Abu Dhabi's Aldar Properties Q4 profit rises 9.1 per cent","date":"February 15, 2016","format":false,"excerpt":"\r \r Abu Dhabi's Aldar Properties reported on Monday a 9.1 per cent rise in fourth-quarter net attributable profit, according to Reuters calculations.The builder of Abu Dhabi's Formula One circuit made a profit attributable to equity holders of Dh760 million in the three months to December 31, Reuters calculated based\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/33577"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=33577"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/33577\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=33577"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=33577"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=33577"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}