ABU DHABI / WAM
Aldar Properties announced it delivered a net profit of AED668 million for the first quarter (Q1) of 2018, up 4 percent from same period last year’s AED641 million.
Talal Al Dhiyebi, Chief Executive Officer of Aldar Properties, said, “Aldar started 2018 strongly with the announcement of a historic partnership with Emaar to develop the next era of iconic real estate destinations. The initial AED30 billion pipeline of projects, including Saadiyat Grove in Abu Dhabi and Emaar Beachfront in Dubai, is just the start of this partnership, which will enhance our country’s reputation as a destination of choice for residents and tourists alike. Our launch of a boutique development on Reem Island ‘Reflection’, shows the continued momentum in our development business, which reco-rded sales of AED681 million during the quarter, while our asset management business also continued to deliver a