Press releases, Reports & Disclosures for Al Dar Properties
Resolution No. 281 of 2024 temporarily suspends trading of Al Dar Properties shares on the ADX. This is due to the Al Dar Properties Board of Directors meeting scheduled for 09:00 on 9th February 2024, which coincides with the trading session at ADX. The suspension will last until the ADX receives the meeting results. All heads of departments in ADX are to implement this resolution within their respective fields. The resolution is to be circulated to SCA, the concerned company, all departments at ADX, and all brokers accredited by ADX. The resolution, approved by the authorized person, was issued on 7th February 2024.
Aldar Properties awarded 49 contracts worth AED 22 billion ($5.99 billion) to 36 UAE-based companies in 2023. The contracts cover infrastructure, residential, commercial, and mixed-use developments across Abu Dhabi. Around AED 10.5 billion of the contract value was recirculated into the local economy, aligning with the National In-Country Value Programme. The projects will deliver a range of facilities including villas, townhouses, offices, retail spaces, schools, and highways. Over half of the contracts (53%) were for Aldar-owned projects, while the rest were for projects delivered on behalf of the Abu Dhabi government. Sustainability was a key factor in the procurement process, in line with Aldar's Net Zero commitments.
Aldar Properties, a leading real estate developer in the UAE, has announced plans to invest AED 5 billion in the development of new income-generating assets in Abu Dhabi. The assets will be developed between 2025 and 2027 and will include commercial, retail, and hospitality properties. The projects are expected to meet strong demand for Grade A office space in the city's financial centre, ADGM, as well as Saadiyat Island and Yas Island. Key developments include a 12-story office tower on Yas Island and a business park on Saadiyat Island. The investment is part of Aldar's 'develop-and-hold' strategy, aimed at expanding its asset portfolio and increasing recurring income streams.
Aldar Properties has announced the launch of Sama Yas, a new luxury residential community located within Yas Park. The community features 234 apartments, duplexes, and penthouses, with a dining experience curated by Chef Izu and kitchen designs inspired by him. The community spans 100,000 sqm and includes amenities such as a boutique spa, 24/7 concierge, and community gardens. Sama Yas is set to be available to buyers of all nationalities from 2 February 2024.
Aldar Properties, a leading real estate developer in the UAE, is investing AED 1 billion to expand its logistics real estate business in Dubai and Abu Dhabi. The investment includes the acquisition of the 7 Central logistics hub and an adjacent land plot in Dubai Investments Park, marking Aldar's first logistics acquisition in Dubai. The company will also construct 233,000 sqm of new logistics facilities across the UAE, which will increase Aldar’s total logistics gross leasable area in the UAE to over 400,000 sqm. The expansion is in response to strong demand for Grade A logistics facilities and is supported by the UAE's substantial investment into transportation and infrastructure.
Aldar Properties, Tadweer (Abu Dhabi Waste Management Company), Ne’ma and Polygreen have formed a joint venture called Ecoloop to manage waste from Aldar's assets in Abu Dhabi. The project will implement Polygreen’s ‘Just Go Zero’ model, which has successfully diverted all municipal solid waste, including food waste, from landfill in Greece. Tadweer will manage waste services across the project’s portfolio, while Ne'ma will promote a 'Zero Food Waste to Landfill' approach. The initiative aims to prevent 32,500 tonnes of CO2 emissions annually. The partnership was announced at COP28 and is part of the UAE's commitment to reduce its carbon footprint and build a greener future.
Aldar Properties has teamed up with Yellow Door Energy to provide 34 megawatts of solar power to 45 Aldar properties in the UAE starting in 2024. The 20-year project will help Aldar to reduce its carbon footprint in line with its Net Zero Plan, with an estimated reduction of 23,000 tonnes of CO2 emissions in the first year. Over the project's lifetime, over 560,000 tonnes of CO2 will be avoided. The solar systems will be financed, designed, built, operated, and maintained by Yellow Door Energy. The partnership supports the UAE Net Zero by 2050 Strategic Initiative and Abu Dhabi’s 2030 Energy Strategy.
The document is a form for the disclosure of the results of a Board of Directors meeting held by Aldar Properties PJSC on 14th December 2023. The meeting started at 9:00 am and ended at 10:00 am with six board members present, achieving a quorum of 85.7%. The board discussed general business, operational, and strategic items that do not affect the company's share price. The form is signed by the company secretary, Mohammad Hatim Abedalrahman.
Aldar Properties, Mubadala Investment Company, and Ares Management have formed a strategic partnership to invest $1 billion in private real estate credit in the UK and Europe over the next three to five years. Mubadala will own a 50% stake in the new platform, Aldar will hold 30%, and Ares will hold the remaining 20%. Additionally, Aldar will invest an extra $100 million in an existing European private real estate credit strategy initiated by Mubadala and Ares in 2021. The strategy, which focuses on senior secured debt with a first lien on physical real estate assets, is expected to increase to around $2 billion in capital commitments from Mubadala, Aldar, and Ares funds. With anticipated leverage, total capital for the strategy is expected to exceed $5 billion.