#aldar properties
The facility is six times larger than any other single-bank financing the company has done in its recent history
The 50:50 joint venture will develop the six-building project next to the Dubai Exhibition Centre, which will include residential, office, and retail space
The deal seeks to unlock greater value for both parties and boost Abu Dhabi’s global appeal
The group’s balance sheet remains resilient with Dhs140.4bn in assets and a strong cash position of Dhs20.2bn
The company attributed the growth to its highest-ever quarterly development sales of Dhs8.5bn in Q4, with full-year sales reaching a record Dhs27.9bn
The developer will take a majority stake in a co-investment platform, which includes a portfolio of 14 warehouses in the UK
The office and retail assets are part of the property firm’s investment portfolio, which houses Dhs25bn of income-generating real estate assets
The developer has acquired 7 Central logistics hub from Seven Seas Steel Industries in Dubai Investments Park, with an adjacent plot to build further logistics
The transaction is expected to have a positive impact on sales, given the opportunities to cross-sell across the two companies’ respective customer base
Three hundred and fifty-seven units will be up for sale in the first phase on December 5
Group sales during the first nine months reached a record Dhs19.4bn, up 109 per cent on the back of 11 project launches year-to-date and strong demand for Abu Dhabi properties
Construction of the first phase of Haven by Aldar is due to begin in Q2 2024, with handovers expected in Q3 2027
The property giant’s development sales hit a record Dhs11.6bn in the three months to June 30, with 10 new project launches a year to date
The expansion plan includes the establishment of Cranleigh Bahrain and the acquisition of Kent College Dubai and Virginia International Private School in Abu Dhabi
The investment follows the completion of Yas Mall’s Dhs500m redevelopment plan
The project is part of Abu Dhabi Government’s efforts to develop integrated and sustainable residential neighbourhoods
Through this transaction, which is valued at Dhs150m, Aldar will hold a majority stake of 75 per cent in Basatin with the remaining 25 per cent held by a strategic partner
The property firm said its investment in SODIC was one of the largest foreign investments in the Egyptian real estate sector
The developer said its revenue backlog hit a record Dhs18.8bn, which provides visibility over the next two to three years
Construction of the project is set to start in the last quarter of 2023, with handovers projected for Q3 2026
Aldar will collaborate with CEBC in its ‘Energy Efficiency’ working group to achieve goals that will promote a sustainable future and support the UAE Net Zero by 2050 Strategic Initiative
The project will enhance energy efficiency across a range of Aldar hotels, schools, commercial, leisure, retail and residential buildings
The homes at Yas Park Gate are designed to achieve a two-pearl rating, as per the UAE’s Estidama sustainability rating system
More than 3,000 companies worldwide are working with SBTi to reduce emissions
The group achieved revenues of Dhs17.1bn, up considerably year-on-year from Dhs5.5bn for the same period last year
The transaction includes the four main office towers in ADGM located on Al Maryah Island, Al Sila, Al Sarab, Al Maqam and Al Khatem
The transaction ramps up Aldar’s expansion and growth strategy in Ras Al Khaimah following the acquisition of Al Hamra Mall and Rixos Bab Al Bahr earlier this year
As a long-term strategic shareholder, Alpha Dhabi will continue to support Aldar’s management team as they execute its growth agenda
The investment in the Taronga Ventures fund adds to Aldar’s investments in four other real estate technology funds
Aldar has also secured development rights for an additional 250,000 sq ft of gross floor area for residential and commercial use as part of the deal