{"id":54153,"date":"2017-05-09T15:47:35","date_gmt":"2017-05-09T08:47:35","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=54153"},"modified":"2017-05-09T14:00:18","modified_gmt":"2017-05-09T07:00:18","slug":"aldars-net-profit-in-neutral","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/aldars-net-profit-in-neutral\/","title":{"rendered":"Aldar's net profit in neutral"},"content":{"rendered":"


\nFirst quarter net profits at Abu Dhabi’s largest listed developer, Aldar Properties, remained flat compared with a year earlier as a drop in government income was offset by property and land sales.In a statement to the Abu Dhabi bourse this morning Aldar said that profit attributable to shareholders stood at Dh636 million in this year’s first quarter, 2 per cent lower than the Dh649 million profit of a year earlier.
\nAldar said this was because last year it had received a profits boost from Dh219 million in government grants for building infrastructure assets.The company said that gross profit – which does not include government contributions – stood at Dh753 million, an increase of 39 per cent compared with the Dh542 million of 2016’s first quarter.Aldar reported that revenue grew 28 per cent to Dh1.58 billion in the latest quarter, driven by revenue being booked on developments under construction and land plot sales.
\nThe company said that it had sold more than Dh100 million of land plots to investors and developers in various locations across Abu Dhabi island. The developer declined to say exactly how much land it had sold during the quarter.Aldar also said that it had agreed off-plan sales with customers which would eventually be worth Dh1 billion during the quarter, mostly at its West Yas and Yas Acres projects on Yas Island.
\n“We have a tremendously active portfolio of off plan development,” said Greg Fewer, chief financial officer at Aldar. “When we grow our gross profits in the way that we have, it’s a reflection of our strong sales and it’s a reflection of the construction activity we are seeing across our portfolio on site. In addition it’s a reflection that we have a very large and very valuable land bank in Abu Dhabi which investors are showing increasing interest in,” he added.
\nIn early trade this morning, the shares were up 1.8 per cent in Abu Dhabi. lbarnard@thenational.ae
\n
\nSource : thenational.ae
\nRead more…Aldar’s net profit in neutral<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

First quarter net profits at Abu Dhabi’s largest listed developer, Aldar Properties, remained flat compared...<\/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-54153","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-e5r","jetpack-related-posts":[{"id":54159,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/abu-dhabi-developer-aldars-net-profit-in-neutral\/","url_meta":{"origin":54153,"position":0},"title":"Abu Dhabi developer Aldar's net profit in neutral","date":"May 9, 2017","format":false,"excerpt":"\r First quarter net profits at Abu Dhabi's largest listed developer, Aldar Properties, remained flat compared with a year earlier as a drop in government income was offset by property and land sales.In a statement to the Abu Dhabi bourse this morning Aldar said that profit attributable to shareholders stood\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":54209,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/land-and-property-sales-keep-aldar-profit-ahead-of-forecast\/","url_meta":{"origin":54153,"position":1},"title":"Land and property sales keep Aldar profit ahead of forecast","date":"May 9, 2017","format":false,"excerpt":"\r The Abu Dhabi developer Aldar Properties compensated for a drop in government income in the first quarter of this year by boosting property and land sales. In a statement to the Abu Dhabi bourse on Tuesday, Aldar said that profit attributable to shareholders stood at Dh636 million in the\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":54153,"position":2},"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":21638,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/abu-dhabis-aldar-properties-q2-net-profit-up-9-7-per-cent\/","url_meta":{"origin":54153,"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":4816,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/fourth-quarter-profit-at-abu-dhabis-aldar-gets-boost-from-property-portfolio\/","url_meta":{"origin":54153,"position":4},"title":"Fourth-quarter profit at Abu Dhabi's Aldar gets boost from property portfolio","date":"February 15, 2016","format":false,"excerpt":"\r \r Lucy BarnardA jump in the value of Aldar's investment properties boosted its fourth-quarter results on Monday, as the company continues to position itself as Abu Dhabi's biggest landlord. Profit at Aldar Properties rose 5.6 per cent in 2015 compared with a year earlier, the company stated on Monday.Aldar\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":21650,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/aldar-properties-q2-net-profit-up-9-7-despite-property-slowdown-in-abu-dhabi\/","url_meta":{"origin":54153,"position":5},"title":"Aldar Properties Q2 net profit up 9.7% despite property slowdown in Abu Dhabi","date":"August 2, 2016","format":false,"excerpt":"\r Second quarter profits at Aldar Properties rose by nearly a tenth despite a slowdown in the city's property market.Abu Dhabi's largest listed house builder said profits for the three months to the end of June rose 9.7 per cent compared with the same period a year ago to Dh657.3\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\/54153"}],"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=54153"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/54153\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=54153"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=54153"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=54153"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}