Al Dar Properties

Aldar Properties has launched Nouran Living, a boutique mid-rise residential project in Saadiyat Island's Marina District. The development is conveniently located near New York University Abu Dhabi and the American Community School Abu Dhabi. Nouran Living offers 372 units ranging from studios to 3-bedroom apartments and features amenities like co-working spaces, a library, swimming pools, and an outdoor track. It is part of Aldar's design-led urban living collection and will be available to buyers of all nationalities starting from 19 March 2024.

The text refers to the reports and consolidated financial statements for the year ending 31st December 2023 for Aldar Properties PJSC.

The text refers to the consolidated financial statements and reports of ALDAR PROPERTIES PJSC for the year ending on 31st December 2023.

Aldar Properties reported a 40% increase in net profit to AED 4.4 billion for FY 2023, driven by record development sales and an expanded investment portfolio. The company saw its highest-ever quarterly development sales of AED 8.5 billion in Q4, leading to a full-year sales record of AED 27.9 billion. The development revenue backlog doubled to AED 36.8 billion, providing income visibility for the next 2-3 years. Aldar launched 14 new projects and entered the Dubai and Ras Al Khaimah markets. Overseas and resident expat buyers accounted for 66% of UAE sales. Aldar Investment recorded 40% revenue growth, driven by recent acquisitions, active asset management, and strong operational performance. The company also activated its international expansion strategy through the acquisition of UK developer London Square and investments in European real estate private credit and logistics and self-storage assets. Aldar recommended a dividend of AED 0.17 per share, representing a total payout of AED 1.3 billion in 2023.

Aldar Properties, a leading real estate developer in the UAE, has partnered with global investment firm Carlyle to invest AED 407 million (USD 111 million) in logistics and storage assets in Europe. The partnership involves a commitment to Carlyle Europe Realty’s pan-European real estate strategy and a majority stake in a co-investment platform, which includes a portfolio of 14 warehouses in the UK. Aldar will also invest in a portfolio of self-storage facilities and development sites in Western Europe. This move is part of Aldar's international expansion plan and its programmatic investment strategy in Europe.