Abu Dhabi's largest property company Aldar will launch a new projects in the next three to four months according to Greg Fewer, the real estate developer's CFO.
Aldar, a company majority-owned by the emirate's government, was rescued by a $10 billion state bailout in 2010 following a market crash, but is now resurgent following a merger with rival Sorouh Real Estate and a dramatic recovery in most segments of the UAE' property sector.
The company's new projects will mostly target mid-income buyers and tenants, Fewer told reporters on the sidelines of a conference in Dubai. He did not provide details.
Aldar is expected in coming weeks to announce its third-quarter earnings. The company's second-quarter profit more than doubled from a year ago.
Aldar, a company majority-owned by the emirate's government, was rescued by a $10 billion state bailout in 2010 following a market crash, but is now resurgent following a merger with rival Sorouh Real Estate and a dramatic recovery in most segments of the UAE' property sector.
The company's new projects will mostly target mid-income buyers and tenants, Fewer told reporters on the sidelines of a conference in Dubai. He did not provide details.
Aldar is expected in coming weeks to announce its third-quarter earnings. The company's second-quarter profit more than doubled from a year ago.
Source:
Mubasher
