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Debt Investors

Approach to leverage

  • Aldar maintains a conservative financial debt policy to optimise gross debt capacity across both the asset management (Aldar Investments) and development businesses
  • Corporate structure enables asset management to operate more independently to drive greater operational and capital efficiency
  • Aldar Investments attained Baa1 credit rating and successfully raised $500 million sukuk in September 2018 supported by its high quality, diverse asset base
  • Strong governance in place – separate debt and dividend policies for both asset management and development management businesses
  • Strong liquidity position with AED 4.7 billion undrawn, committed credit facilities as at 31 Dec 2018
  • Sector leading average cost of debt at 4.0%, with average maturity of 4 years
Aldar Properties
  • Asset Management
  • Development Management
  • Aldar Investments (Baa1 - Moody's) 100% owned
  • Dividend Policy
  • 65-80% DFCF
  • 20-40% Profit
  • Debt Policy
  • 35-40% LTV (37.5% 1)
  • <25% LTV (4.8%1)

1 As at 31 December 2018

Credit rating (Aldar Investments)

MOODY'S
OUTLOOK Stable
CREDIT ASSESSMENT Baa1

View Latest Credit Rating Report - Here

Issuance (Aldar Investments)

PROGRAM CURRENCY TENOR MATURITY COUPON SIZE (US$m)
Sukuk US$ 7 Years 29/05/25 4.750 $500

“For any debt investor related enquiries, please contact us at ir@aldar.com

Financial statements and presentations

  • Jul 2019 Asia NDR Presentation

  • 2018 FY Financial Statements – Aldar Investment Properties

Prospectus

  • Sep 2018 Aldar Investment Properties $500m Sukuk Prospectus
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