Press releases, Reports & Disclosures for Al Dar Properties

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.

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.