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Aldar raises dividend 17% to 14 Fils on strong 2018 performance

Strategic partnership with Emaar and AED 3.7 billion asset acquisition set stage for growth, says company’s representative

| | Feb 14, 2019 | 5:50 pm
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Abu Dhabi, UAE, 14 February 2019: Aldar Properties reported robust financial results for the 12 months to 31 December 2018, the company announced in a Press communiqué. The significant strategic corporate actions over the past year were a strategic partnership with Emaar Properties, an AED 3.7 billion asset acquisition that took Aldar onto Saadiyat Island and the creation of Aldar Investments, the region’s largest diversified real estate investment company, the communiqué said.

H.E. Mohamed Khalifa Al Mubarak, Chairman, Aldar Properties

According to Aldar, the financial highlights of the year were a two per cent increase in revenue to AED 6.3 billion, a gross profit of AED 2.6 billion, a net operating income of AED 1.6 billion and an AED 1.9 billion net profit including fair value adjustments of AED 0.7 billion, the communiqué further said.

The Board recommended a dividend of 14 fils per share for 2018, representing a 17% increase over 2017 and the sixth consecutive year of growth, the communiqué said. The proposed total dividend payout of AED 1.1 billion reflects the quality of Aldar’s recurring revenue assets that contributed the majority of the dividend, with growth supported by development handovers and collection of final payments, the communiqué further said.

Talal Al Dhiyebi, CEO, Aldar Properties

H.E. Mohamed Khalifa Al Mubarak, Chairman, Aldar Properties, said: “Abu Dhabi’s real estate sector is a key beneficiary of the Government’s growth-focused policies, which are driving positive economic activity and sentiment. The strength and consistency across our businesses underpins the Board’s confidence in proposing an increased dividend for 2018.”

Talal Al Dhiyebi, Chief Executive Officer, Aldar Properties, said, “With a positive shift in sentiment, strong liquidity in Abu Dhabi and the long-term health of our real estate market, we are optimistic about the year ahead.”

 


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