Al Dar Properties

Logotype for Al Dar Properties
Ticker/ISIN
ALDAR
AEA002001013
Market/Country
Abu Dhabi Stock Exchange
United Arab Emirates
Latest Stock Price
5.17 AED
2024-02-21

Year to date

-0.03 %

3 months

0.00 %

6 months

0.00 %

1 year

0.00 %

3 years

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5 years

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ALDAR Properties PJSC is a premier real estate development, management and investment company headquartered in Abu Dhabi, UAE

Latest Pressrelease Summaries

Aldar, a leading real estate developer in the UAE, is investing AED 1.5 billion to transform its hotel portfolio in Abu Dhabi, aiming to capitalize on the growth of the UAE’s tourism sector and the global luxury travel market. Key changes include rebranding the Eastern Mangroves hotel as a Waldorf Astoria luxury resort, reimagining the Yas Plaza Hotels under the IHG brand to create the world's largest Vignette Collection resort, and converting the Tilal Liwa hotel in Al Dhafra into a luxury desert escape under the same brand. Additionally, Aldar is refurbishing and expanding its Nurai Island resort and enhancing its flagship hotels in Ras Al Khaimah. This transformation aligns with Abu Dhabi's strategy to increase international tourism, which saw a 27% rise in hotel guests in 2023.
Aldar Properties and Mubadala Investment Company have formed a strategic partnership to develop and manage real estate assets in Abu Dhabi valued at over AED 30 billion. This collaboration aims to enhance Abu Dhabi's status as a global business and lifestyle destination. The partnership, inaugurated by His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, leverages Mubadala’s land bank and institutional strength alongside Aldar’s development and asset management expertise. The joint ventures will include a retail platform featuring Yas Mall and The Galleria Luxury Collection, income-generating assets in Masdar City and Al Falah, and new luxury residential communities on islands near Saadiyat and Yas Islands. The ventures are expected to be finalized in the coming months, subject to due diligence.
Aldar Properties announced the complete sell-out of its luxury canal-front community, Yas Riva, on launch day, generating over AED 1.4 billion in sales. Expatriate residents and overseas buyers made up 48% of sales, while Emirati, Indian, Pakistani, and British buyers were the top four nationalities by sales volume. The rapid sell-out highlights Yas Island's appeal for luxury living and its growing status as a premier investment destination. UAE nationals accounted for 52% of sales, indicating strong local interest, while 60% of buyers were under 45, showing the development's popularity among younger individuals. First-time buyers of an Aldar property comprised 38% of sales, demonstrating Aldar's expanding customer base both locally and internationally.
Aldar Properties has announced the launch of Yas Riva, a luxury villa community on Yas Island, Abu Dhabi, set to be available from September 13, 2024. Yas Riva will feature 151 four, five, and six-bedroom villas, both canal-front and canal-accessible, offering a lifestyle of ease and elegance in a tranquil waterfront setting. The canal-front homes will include private docks, allowing residents to explore the waterways by boat. The community is designed with sleek and elegant principles, providing access to world-class attractions and thoughtfully landscaped gardens and parks. The villas will be available to buyers of all nationalities.
ALDAR Properties PJSC has released a review report and interim financial information for the six-month period ending on June 30, 2024.
On 29th July 2024, Aldar Properties PJSC held a Board of Directors meeting from 9:00 am to 9:35 am with six board members present, achieving a quorum of 85.7%. The meeting resulted in the approval of the financial statements for Q2 2024 and the consideration of general business, operational, and strategic items. The authorized signatory for the meeting was Mohammad Hatim Abedalrahman, the Company Secretary.
Aldar's net profit for the first half of 2024 increased by 57% year-over-year, driven by significant backlog realization and strong performance in its investment portfolio. Key highlights from H1 2024 include a 21% YoY increase in development sales to AED 14.0 billion, with 79% of UAE sales coming from overseas and resident expat buyers. The company reported a record development backlog of AED 39.0 billion, with AED 33.2 billion in the UAE, supporting future revenue over the next 2-3 years. Aldar also made a strategic entry into Dubai's commercial segment with a total commitment of AED 1.8 billion and formed a strategic partnership with DP World to develop a logistics park in Dubai. The company's investment properties platform aims to diversify and grow earnings through strategic capital deployment and asset optimization. Aldar issued a second USD 500 million green sukuk and conducted a tender buyback of 2025 sukuk, optimizing its debt structure. The company maintains ample liquidity with AED 3.6 billion in free cash, AED 7.6 billion in undrawn committed credit facilities, and AED 6.2 billion in unrestricted escrow accounts. Financial results for H1 2024 include: - Revenue: AED 10.9 billion (+73% YoY) - Gross Profit: AED 3.9 billion (+43% YoY) - EBITDA: AED 3.9 billion (+61% YoY) - Net Profit (after tax): AED 3.3 billion (+57% YoY) For Q2 2024: - Revenue: AED 5.3 billion (+64% YoY) - Gross Profit: AED 1.8 billion (+27% YoY) - EBITDA: AED 2.0 billion (+42% YoY) - Net Profit (after tax): AED 1.8 billion (+37% YoY) Aldar’s effective tax rate for H1 2024 was 4.1%, following the introduction of UAE corporate income tax on January 1, 2024. Pre-tax net profit increased by 63% to AED 3.5 billion in H1 2024 and by 42% to AED 1.8 billion in Q2 2024.
Aldar Properties PJSC has released a review report and interim financial information for the six-month period ending on June 30, 2024.

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News Update From Al Dar Properties

Disclosures: Al Dar Properties Press Release on the Financial Results for the Period Ended September 30,2023

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ADX News

ADX News

News Update From Al Dar Properties

Disclosures: Al Dar Properties Board Meeting Results held on 30/10/2023 at 09:00

The Board of Directors of Aldar Properties PJSC held a meeting on 30th October 2023, starting at 09:00 am and ending at 09:30 am. All seven board members were present, achieving a 100% quorum. The board approved the financial statements for Q3/2023 and discussed general business, operational, and strategic items. The meeting was documented and signed by the Company Secretary, Mohammad Hatim Abedalrahman.

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News Update From Al Dar Properties

Disclosures: Aldar Properties ALDAR’S FIRST RESIDENTIAL COMMUNITY IN DUBAI TO OFFER RESIDENTS WELLNESS INSPIRED SUBURBAN LIVING

Aldar Properties has announced its first residential development in Dubai, named Haven by Aldar. The community is designed as a wellness retreat located in a quiet suburb of Dubai. It features 462 residential units, ranging from three- to six-bedroom properties, available to buyers of all nationalities from 31 October. The development spans almost 1 million sqm and includes a treehouse community centre, a central park, meditation pavilion, zen gardens, and a spa. Haven by Aldar is aiming for LEED Gold and Fit-Well 3 Star ratings, aiming to be the first community in the UAE with both certifications.

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News Update From Al Dar Properties

ADX Disclosures: Temporary suspension of trading on the shares of Al Dar Properties on 30 Oct 2023

Resolution No. 218 of 2023 was issued concerning the temporary suspension of trading on the shares of Al Dar Properties. This decision is subject to article No. 16 of the Regulations concerning the listing of securities on ADX. The resolution was made in light of the Al Dar Properties Board of Directors meeting scheduled for 09:00 on 30-Oct-2023, which coincides with the trading session at ADX. Consequently, trading in ALDAR shares will be suspended from 09:30 on 30-Oct-2023 until ADX receives the meeting results. All heads of departments in ADX are required to execute this resolution in their respective fields. The resolution will be circulated to SCA, the concerned company, all departments at ADX, and all brokers accredited by ADX. The resolution, issued on 25/10/2023, has been approved by the authorised person.

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News Update From Al Dar Properties

Disclosures: Al Dar Properties Announcement of Board Meeting to be held on 30/10/2023 at 09:00

The Board Meeting Disclosure Form for Aldar Properties PJSC, dated 25th October 2023, announces a board meeting on 30th October 2023 at 9:00 am. The agenda includes reviewing the company's financial performance for Q3/2023 and considering general business, operational, and strategic items. The authorized signatory for the form is Mohammad H. Abedalrahman.

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News Update From Al Dar Properties

Disclosures: Aldar Properties ALDAR ACHIEVES RECORD OCCUPANCY IN GRADE A COMMERCIAL PROPERTIES IN ABU DHABI

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News Update From Al Dar Properties

Disclosures: Aldar Properties PJSC: Board Meeting Results held on 02/10/2023 at 14:00

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News Update From Al Dar Properties

Disclosures: Aldar Properties Announcement of Board Meeting to be held on 02/10/2023 at 14:00

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News Update From Al Dar Properties

Disclosures: Al Dar Properties ALDAR’S MAMOURA BRITISH ACADEMY AMONGST TOP THREE SCHOOLS IN THE WORLD FOR ENVIROMENTAL ACTION

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News Update From Al Dar Properties

Disclosures: ALDAR PARTNERS WITH NIKKI BEACH GLOBAL TO BRING BRANDED WATERFRONT RESIDENCES TO RAS AL KHAIMAH

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