By: Ramy Sameeh 

Abu Dhabi – Mubasher: Aldar Properties does not have plans to issue debt instruments (sukuk or bonds) to refinance its debts in 2017.

The company has a strong financial position, and achieved good results in 2016 despite the difficult operating environment, according to the real estate developer’s chief development officer Talal Al Dhiyebi.

Net profits grew 8% to AED 2.8 billion ($762.2 million) in 2016, compared to AED 2.6 billion ($707.91 million) in 2015.

Profits reached AED 727.9 million in Q4-16, compared to AED 734.6 million in Q4-16.

The company’s debts reached AED 5.6 billion up to date, a decline of AED 400 million from 2015.

The company’s liquidity rose to AED 6.6 billion in 2016 from AED 6.3 billion in 2015, Al Dhiyebi added.

Translated by: Julian Nabil