Proud to be part of the team!
Aldar’s H1 2024 net profit increased 57% to AED 3.3 billion, a testament to Aldar’s effective and diversified business model coupled with its strong brand.
Here are some of the key highlights of our strong financial results for the period:
• Strong development sales momentum of AED 14.0 billion in H1, up 21% YoY, supported by solid demand for new launches and existing inventory.
• Continued strong demand from overseas and resident expat buyers, accounting for AED 10.2 billion, or 79%, of UAE sales.
• Strategic entry into Dubai commercial segment through a total commitment of AED 1.8 billion, with development of an iconic office tower development with a net leasable area of 88,000 sqm on Sheikh Zayed Road and acquisition of ‘6 Falak’, a newly built Grade A office building located in Dubai Internet City.
• Record development backlog of AED 39.0 billion, and highest-ever UAE backlog of AED 33.2 billion, propelling revenue recognition over the next 2-3 years.
Read the full announcement here: https://lnkd.in/dVG4UM
“Aldar's exceptional performance in the first half of 2024 highlights our effective and diversified business model, strong brand, and a positive operating environment in the UAE.”
Talal Al Dhiyebi
Group Chief Executive Officer of Aldar Properties
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1wAlexander Voytov congratulations!!! ❤️