Al Dar Properties

Aldar Properties PJSC, a prominent real estate developer in the UAE, announced plans to develop a Grade A office tower on Sheikh Zayed Road near the Dubai International Financial Centre (DIFC). The project will feature a net leasable area of 88,000 sqm and will include a luxury boutique hotel and branded residences. Additionally, Aldar has signed an agreement to acquire '6 Falak,' a fully occupied Grade A office building in Dubai Internet City. These investments, totaling AED 1.8 billion, aim to expand Aldar's presence in Dubai's key business districts and align with its strategy to provide premium office spaces.

Aldar Properties PJSC announced plans to develop a Grade A office tower on Sheikh Zayed Road near the Dubai International Financial Centre (DIFC). The tower will feature a net leasable area of 88,000 sqm and will include a luxury boutique hotel and branded residences. Additionally, Aldar has signed an agreement to acquire '6 Falak,' a fully occupied Grade A office building in Dubai Internet City. These investments, totaling AED 1.8 billion, aim to expand Aldar's presence in Dubai's key business sectors and align with its strategy to provide premium office spaces in major business districts.

Aldar Properties PJSC has announced plans to develop a Grade A office tower on Sheikh Zayed Road near the Dubai International Financial Centre (DIFC), featuring a net leasable area of 88,000 sqm, a luxury boutique hotel, and branded residences. Additionally, Aldar has signed an agreement to acquire the fully occupied Grade A office building '6 Falak' in Dubai Internet City. These investments, totaling AED 1.8 billion, aim to expand Aldar's presence in Dubai's key business sectors and align with its strategy to provide premium office spaces in major business districts.

Resolution No. 439 of 2024 temporarily suspends the trading of Al Dar Properties shares on the Abu Dhabi Securities Exchange (ADX). This decision is due to a Board of Directors meeting scheduled for 09:00 on 29-Jul-2024, which coincides with the trading session. Trading will resume once ADX receives the meeting results. All relevant departments within ADX are instructed to implement this resolution. The resolution will be communicated to the Securities and Commodities Authority (SCA), the concerned company, all ADX departments, and accredited brokers. The resolution was approved by the authorized person and issued on 23/07/2024.

Resolution No. (438) of 2024 announces the temporary suspension of trading in the shares of Al Dar Properties. The suspension will begin at 10:00 on July 29, 2024, due to a Board of Directors meeting scheduled at 09:00 on the same day, which coincides with the trading session at ADX. Trading will resume once ADX receives the meeting results. The resolution mandates all ADX department heads to implement the suspension and requires that it be communicated to the SCA, the concerned company, all ADX departments, and accredited brokers. The resolution was approved by the authorized person and issued on July 23, 2024.

The Board Meeting Disclosure Form for Aldar Properties PJSC is scheduled for Monday, 29th July 2024, starting at 09:00 am. The meeting agenda includes discussing the company's financial performance for Q2 2024 and considering general business, operational, and strategic items. The authorized signatory for this disclosure is Mohammad H. Abedalrahman, who holds the position of Company Secretary.

Aldar Properties announced the sale of over 660 units at Verdes by Haven, its first apartment offering in Dubai, within 72 hours of launch. Expatriate residents and overseas buyers accounted for 83% of sales, with the top international markets being India, Egypt, and the UK. UAE nationals made up the remaining 17%. Notably, 88% of buyers were purchasing from Aldar for the first time. The sales events generated over AED 1 billion and were held at various locations, including the Dubai World Trade Centre and internationally. The positive response underscores Aldar's growing appeal and momentum in Dubai's real estate market.

Aldar Properties and DP World have signed a strategic agreement to develop a 1.55 million square foot Grade A logistics park in National Industries Park (NIP) in Dubai. This project is the first of its kind within NIP and aims to cater to third-party logistics (3PL), eCommerce, and retail tenants. The park will feature three modular buildings that can be adapted for single or multi-tenant use. Aldar will oversee the entire development process, from design to management. This initiative is part of Aldar's broader AED 1 billion investment to expand its logistics real estate business in Abu Dhabi and Dubai. The location is strategically positioned near Jebel Ali Port and Al Maktoum International Airport, offering excellent connectivity. The project aims to meet the high demand for warehousing facilities and strengthen DP World's position as a key distribution hub.

Aldar Properties has announced the launch of Verdes by Haven, a new community of apartments within the Haven masterplan in Dubai. This development emphasizes integrating nature and wellness with contemporary living, offering one-, two-, and three-bedroom apartments available from July 11, 2024. Verdes by Haven features resort-like amenities, including a state-of-the-art gym, spa facilities, and flexible coworking spaces. The community is designed to promote a tranquil living experience with lush landscapes and a gentle stream. Located along major transport routes, it provides easy access to key business and lifestyle hubs. Developed in partnership with Dubai Holding, prices for the apartments start at AED 990,000.

Abu Dhabi-based Aldar Investment Properties (AIP) has issued its second $500 million green sukuk, which was four times oversubscribed by regional and international investors. The issue achieved Aldar's tightest ever credit spread, reflecting strong business fundamentals and market confidence in the company's ESG commitments. The proceeds will be used in line with Aldar's Green Finance Framework, supporting investments in sustainable projects. The issuance also represents an opportunity for existing investors to reinvest, as Aldar has offered to buy back the sukuk maturing in 2025. This move is part of the company's $2 billion Trust Certificate Issuance Programme.