Sunday , April 23 2017

Aldar to invest AED1.9bn on Yas and Reem projects

 

ABU DHABI / Emirates Business

Aldar Properties PJSC (“the Company”), Abu Dhabi’s leading listed property development, investment and management company, announced details of its current investment programme. This programme will expand Aldar’s asset management portfolio, driving growth of recurring revenue.
The investments announced comprise mid-market residential, hospitality & leisure, and retail assets on Yas Island and Reem Island. They amount to a total of AED 1.9 billion and follow the AED 1.1 billion already invested in the Daman House acquisition, Al Jimi Mall extension, Al Mamoura school and Repton school.
All projects announced are scheduled to start construction this year and complete during 2019 and 2020. As recently stated, Aldar will look to capitalize on the untapped potential for high quality mid-market residential property in the heart of Abu Dhabi. Aldar will develop approximately 600 units for inclusion in its residential portfolio on Reem Island.

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