[ad_1]
Economic – WATER:
Talal Al Thiabi, CEO of Aldar Properties, said the company plans to expand development and badet management activities in Saudi Arabia and Egypt and is considering investing in the Saudi and Egyptian markets.
The company has 75 million square meters of undeveloped land in its portfolio and is seeking to commercialize projects in Saudi Arabia, England, India and China.
Al-Thiabi expects the company's land and housing sales to reach AED 4 billion this year, thanks to the freehold real estate law for foreigners in areas of the country. investment of Abu Dhabi.
He added that the company had sold residential units and land in its real estate projects worth 2.5 billion dirhams in the first half of this year, and that these homes should be delivered to investors and buyers between 2021 and 2022.
Al-Thiabi stressed the company's desire to launch projects tailored to all categories of income, whether it is high or medium income, emphasizing that the value of the company's projects in progress of development amounted to 8.2 billion dirhams.
Al-Thiabi expects the company's investment portfolio to reach AED 1.7 billion this year, while the portfolio records a profit of AED 1.6 billion a year.
The company's share of sales in newly-launched real estate projects rose to 80% by the end of March 2019, while future revenues from ongoing development projects were estimated at $ 4.3 billion. of DH at the end of the same month.
Earnings for the first half of this year fell 8% to 1.02 billion from AED, compared with 1.11 billion in the same period in 2018.The product rose to 3, 4 billion from AED, against 2.9 billion from AED.
Source link
