Abu Dhabi-based Aldar reveals slight increase in profits

Abu Dhabi-based Aldar Properties has bucked the trend of UAE developers with a marginal increase of 0.4 percent in profits for 2020 compared to the previous 12 months.

The country’s biggest listed developer saw profits increase from AED1.925 billion ($524 million) in 2019 to AED1.932bn ($526m), while year-on-year revenues were up 17 percent from AED7.1bn ($1.93bn) to AED8.4bn ($2.3bn).

Mohamed Khalifa Al Mubarak, chairman of Aldar Properties, said: “During this critical period, Aldar has reinforced its position as the trusted partner for public-private collaboration on strategic real estate and infrastructure investment.”

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