{"id":4806,"date":"2016-02-15T15:32:00","date_gmt":"2016-02-15T08:32:00","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/abu-dhabis-aldar-properties-keeping-close-eye-on-housing-stock-as-prices-flatline\/"},"modified":"2016-02-15T18:00:25","modified_gmt":"2016-02-15T11:00:25","slug":"abu-dhabis-aldar-properties-keeping-close-eye-on-housing-stock-as-prices-flatline","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/abu-dhabis-aldar-properties-keeping-close-eye-on-housing-stock-as-prices-flatline\/","title":{"rendered":"Abu Dhabi's Aldar Properties keeping close eye on housing stock as prices flatline"},"content":{"rendered":"


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\nAbu Dhabi’s Aldar Properties is monitoring the amount of real estate it puts up for sale as it tries to manage the impact of a slowdown in the sector, a company executive said on Monday.He was speaking after the developer reported a 9.1 per cent rise in fourth-quarter net attributable profit, helped by higher recurring revenue from assets such as shopping malls, schools and hotels.Economic growth in Gulf countries is slowing as low oil prices have led to spending curbs and job cuts across major sectors.
\nResidential prices in Abu Dhabi rose 25 per cent in 2013 and 2014 but flattened in 2015.”We’re watching how much we’re releasing into the market,” Aldar chief development officer Talal al-Dhiyebi told reporters on a conference call without giving further details.”In the last two to three months, we’ve seen a slight slowdown on demand but we are selling at a smaller rate.”Transaction volumes in Abu Dhabi were also flat, according to Matthew Green, head of research at consultancy CBRE Middle East, which could lead to deflationary pressures.
\nStill, Aldar would raise capital expenditure to around Dh2.5 billion this year from around Dh1.1bn in 2015, chief financial officer Greg Fewer said, as the company spend on six projects launched since 2014.Most of these projects had strong order books, including its affordable housing scheme on Reem Island which was 90 per cent sold, Mr Al Dhiyebi said.The state-linked builder of Abu Dhabi’s Formula One circuit said it made a profit attributable to equity holders of Dh735m in the three months to December 31.
\nReuters had previously calculated earnings of Dh760m before the quarterly breakdown was provided.The figure was above both the earnings recorded in the corresponding period of 2014 and the Dh512.7m forecast of an analyst at SICO Bahrain.The growth was driven by income from recurring revenue assets, which contributed 62 per cent of earnings in 2015 versus 34 per cent in the previous year and would be a buffer against any slowdown in the market, Mr Fewer said.
\nAldar’s shares were down 2 per cent against a 0.5 per cent dip in the wider market.business@thenational.aeFollow The National’s Business section on Twitter
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\nSource : thenational.ae
\nRead more…Abu Dhabi’s Aldar Properties keeping close eye on housing stock as prices flatline<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Abu Dhabi’s Aldar Properties is monitoring the amount of real estate it puts up...<\/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-4806","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\/p75ss1-1fw","jetpack-related-posts":[{"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":4806,"position":0},"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":4806,"position":1},"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":4806,"position":2},"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":[]},{"id":37326,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/aldar-properties-to-open-west-yas-villa-sales-to-non-emiratis\/","url_meta":{"origin":4806,"position":3},"title":"Aldar Properties to open West Yas villa sales to non-Emiratis","date":"December 7, 2016","format":false,"excerpt":"\r Aldar Properties has opened up sales of off-plan villas at its West Yas development to all nationalities. Abu Dhabi's largest listed property developer had started marketing the development of 1,017 four bedroom and five bedroom villas on Yas Island last year exclusively to Emiratis.The villas, located along the island's\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":37330,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/aldar-properties-opens-west-yas-villa-sales-to-expats\/","url_meta":{"origin":4806,"position":4},"title":"Aldar Properties opens West Yas villa sales to expats","date":"December 7, 2016","format":false,"excerpt":"\r Aldar Properties has opened up sales of off-plan villas at its West Yas development to all nationalities. Abu Dhabi's largest listed property developer had started marketing the development of 1,017 four bedroom and five bedroom villas on Yas Island last year exclusively to Emiratis.The villas, located along the island's\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":50658,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/aldar-awards-dh500m-contract-for-mayan-residence-on-abu-dhabis-yas-island\/","url_meta":{"origin":4806,"position":5},"title":"Aldar awards Dh500m contract for Mayan residence on Abu Dhabi's Yas Island","date":"April 2, 2017","format":false,"excerpt":"\r Aldar Properties has awarded a Dh500 million contract to the private contractor Ghantoot General Construction to build its 512-home Mayan development on Yas Island.Aldar said that Ghantoot would build the five blocks that rise 11 storeys and together comprise 493 apartments and 19 villas.Aldar announced plans to build the\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\/4806"}],"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=4806"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/4806\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=4806"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=4806"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=4806"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}