Al Dar Properties

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.

The letter dated 13th December 2023 from Mohammad H. Abedalrahman, the Company Secretary of Aldar, to the Head of Listed Companies Department at the Abu Dhabi Securities Exchange, announces a change of timing for Aldar’s Board meeting no. 07 of 2023. The meeting, initially scheduled for Wednesday 13th December 2023 at 1:00 pm, is rescheduled to Thursday 14th December 2023 at 9:00 am. The Board will discuss general business, operational, and strategic matters that do not affect the company's share price.

Aldar Properties has partnered with Johnson Controls to launch Abu Dhabi's first 'Cooling as a Service' (CaaS) project. The initiative, to be implemented at Al Rayyana Complex and Eastern Mangroves, will reduce the annual carbon footprint of the cooling baseline by up to 30% over ten years, cutting approximately 26,880 tonnes of CO2 emissions from Aldar's assets. The CaaS solution enables a shift from traditional product-centric business models to a service-oriented approach, making energy-efficient cooling more affordable and accessible. This project supports Aldar's Net Zero Plan, which aims to achieve net zero in Scopes 1 and 2 greenhouse gas emissions by 2030.

The Board Meeting Disclosure Form for Aldar Properties PJSC, a listed company, indicates a meeting scheduled for 1:00 pm on Wednesday, 13th December 2023. The agenda of the meeting includes consideration of general business, operational and strategic items which do not affect the company's share price. The authorized signatory is Mohammad H. Abedalrahman, the company secretary.

Aldar Properties has sold out phase one of its first residential development in Ras Al Khaimah, including the Nikki Beach Residences, in just 48 hours. The 420 units sold accounted for over AED 1 billion in sales. A majority of the buyers were overseas and expatriate residents (87%) and first-time Aldar buyers (86%). Due to this success, Aldar is launching an additional 150 units. The strong sales reflect a growing demand for short-term stays and second homes in Ras Al Khaimah, highlighting the emirate's increasing appeal as a residential and investment destination.

Aldar Properties, a leading real estate developer in the UAE, has acquired the UK-based developer London Square. This marks Aldar's first international acquisition outside the MENA region, aligning with its strategic vision of expanding into key international markets. The deal, worth AED 1.07 billion (GBP 230 million), is aimed at accelerating growth, diversifying revenue streams and unlocking synergies. Aldar plans to leverage its expertise to support London Square’s land acquisition strategy, enabling it to develop larger sites in central London. The acquisition is expected to boost sales through cross-selling across both companies' international customer networks.

Aldar Properties has announced the launch of Nikki Beach Residences, a luxury beachfront community on Al Marjan Island, Ras Al Khaimah. The development includes 800 residences, with the first phase of 357 apartments going on sale on 5 December. The residents will have access to a range of services including 24/7 concierge, valet parking, and other amenities that can be booked through a dedicated app. The location is also close to the main tourist attractions of Ras Al Khaimah.

Aldar Properties PJSC, a leading real estate developer in the UAE, has launched sales for its Nobu Residences Abu Dhabi on Saadiyat Island. The development, which overlooks the Guggenheim Abu Dhabi, includes 88 apartments, a 125-key hotel, a Nobu restaurant and rooftop bar, and retail space spread across 50,000 sqm. Buyers have a choice of one to three-bedroom apartments, two-bedroom lofts, and a limited number of sky villas and penthouses. This marks one of the first Middle Eastern branded residences for the globally recognized Nobu hospitality brand.