Aldar Properties PJSC is the leading real estate developer, manager and owner in Abu Dhabi and, through its iconic developments, it is one of the most well known in the United Arab Emirates and the wider Middle East region.
Since Aldar was established, it has continued to shape and enhance the urbanisation of the UAE’s capital city by delivering desirable destinations where communities can work, live and visit. Those destinations include Yas Island, Reem Island, Al Raha beach and now Saadiyat Island.
It gives me great pleasure to report on a remarkable year for Aldar, which marks our 15th year since inception.
In 2019, Abu Dhabi took several major strides towards elevating its status as a world class destination to invest, work, visit and live in and Aldar has played an active role in contributing to the Emirate’s continuing progress.
Aldar produced a strong performance in 2019, demonstrating an ability to create value through market cycles, while conducting major transactions to prepare for continued growth in the coming years.
The Company is benefitting from our robust business model, designed to deliver growth and stable income through an optimal balance of property investment and development.
Aldar produced a strong financial performance in 2019 and achieved progress on a number of strategic initiatives designed to generate further growth in 2020 and beyond.
The Company recorded 17% growth in revenue and solid increases in gross profit and net income, of 5% and 4% respectively.Greg Fewer Chief Financial & Sustainability Officer Download full statement
Aldar owns and manages a diverse asset management portfolio of AED 20 billion of assets, all within Abu Dhabi.
The portfolio is predominantly split across four main real estate asset classes; residential, retail, commercial and hotels.
Aldar is the largest developer within Abu Dhabi and, since inception, has completed approximately 26,000 residential units across the Emirate.
As at 31 December 2019, a further 8,000 residential units were under development.
See all our financial highlights in detail and what’s coming up next for Aldar in 2020 and beyond.Download full report