Aldar's revenues reach AED 3.42 billion in the first half of 2019

Aldar Properties registered a 15% increase in turnover compared to last year, reaching 3.42 billion AEs against 2.98 billion AEs for the same period last year, because of an increase in activity related to major development projects under construction.
Total profits for the first half of last year increased 2% to 1.39 billion AED, compared to 1.36 billion AED in the first half of last year, while net profit was AED 969 million in the first half of this year due to the strong performance of its core business. At the end of June 2019, the Company's balance sheet remained solid and total committed and unused cash and bank facilities amounted to AED 7.3 billion.
Revenue for the second quarter of 2019 increased 10% to 1.66 billion AED, compared to 1.51 billion AED in the same period in 2018. Revenues increased 17% to 1.66 billion AED. The company has increased its activity on major development projects under construction, as well as revenues from third-party development projects.
Aldar Properties sales in the second quarter increased 129% to AED 853 million, following the successful launch of Leia at Yas Island and Al Reiman 2 at Al Shamkha. The badet management unit continued to operate flexibly, with net operating income up 5% to AED 396 million in the second quarter, driven by the strong performance of the hospitality and hospitality sector. secondary activities, which includes Aldar Academies for the management and operation of schools, Profis Property Management and Khidmah. Facility Management.
The Company's total earnings in the second quarter of 2019 increased by 3% to AED 669 million, compared to AED 649 million in the second quarter of 2018, while second quarter net earnings increased by 7%. AED 476 million vs. AED 445 million for the same period last year
Talal Al Thiabi, Chairman and CEO of Aldar Properties, said: "Our strong performance over this period is a clear indication of the recovery in the real estate market, with total revenue of AED 2 billion. Wam