“Our financial results for the quarter reflect the solid performance of our two core businesses, with gross profit steady year on year.
Our asset management business maintained strong occupancy in Q3, demonstrating resilience. We
continued to uphold our reputation for delivery in our development business, with customer handovers
at West Yas and Nareel Island.
“Our business is structured to deliver long-term growth. Today, more than two thirds of our gross profit
comes from the stable, mature assets held in Aldar Investments delivering consistent returns
throughout the cycle. This is complemented by a development business that is expected to deliver over
7,000 units from 2018 until 2021, providing a steady pipeline of contracted cash flows that will start
contributing to Aldar’s 2018 dividend, in line with our stated dividend policy.
“2018 has been a significant year for Aldar, with a series of strategic milestones announced which are
further strengthening our business and expanding our focus to a wider range of destinations across Abu
Dhabi, including Saadiyat Island. Recent Government initiatives including the AED 50 billion Ghadan 21
programme, legislative changes encouraging longer term residency and ADNOC’s AED 486 billion capital
investment plans will accelerate national development and support sustainable long-term growth. This
gives us many reasons to be optimistic about the future of Abu Dhabi and Aldar Properties.
”
Talal Al Dhiyebi
Chief Executive Officer