Abu Dhabi’s Aldar Properties has recorded a 15 per cent increase in revenue in the first half of 2019. 

The property development, management and investment company announced AED 3.42 billion in revenues for the period, compared to AED 2.98 billion over the equivalent time in 2018. 

Meanwhile, gross profit for the period increased 2 per cent to AED 1.39 billion compared to AED 1.36 billion in 2018. 

These figures were complemented by AED 9 billion worth of development projects since the start of 2019 and a 78 per cent annual increase in off-plan development sales for the first half of 2019. 

Talal Al Dhiyebi, Chief Executive Officer, Aldar Properties said: "There is an upswing in sentiment towards Abu Dhabi's real estate market with the recent announcement of our AED 9 billion worth of development projects since the start of 2019.

“Those, coupled with government initiatives to spur economic growth, are having a positive multiplier effect on the wider Abu Dhabi economy and stirring confidence. 

“This is reflected in our strong performance for the period, underpinned by near AED 2 billion in off plan sales. Also, we are investing wisely, extracting more value from our investment portfolio, which is contributing to our growth.”

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