ALDAR Properties records strong financial performance
ALDAR Properties , Abu Dhabi’s premier real estate development, management and investment company, has reported a very strong financial performance during the first 3 quarters of 2008 with a 137.9% growth in net profit and a 111.9% rise in net asset value compared to the same period last year.
Net operating profit registered Dh2119.2 million compared to a net operating loss of AED 283.3 million last year. The net profit for the period was Dh3362.2 million representing a growth of 137.9%. Basic earning was Dh1.38 per share, up 68.3% from last year’s Dh0.82 per share.
Gross revenue increased to Dh4766.1 million compared to Dh146.8 million in the same period of 2007. This increase was delivered by land and property sales achieved during the 9 months of 2008. ALDAR Properties has announced real estate developments worth more than $72 billion since its launch in 2005 including Yas Island, Al Raha Beach and Central Market.
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