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Aldar Properties eyes new projects in Abu Dhabi

Aldar Properties eyes new projects in Abu Dhabi
Aldar is expected to launch a project or two over the coming period
Aldar
ALDAR
-1.08% 5.52 -0.06

Abu Dhabi – Mubasher: Aldar Properties is seeking to launch new projects in Saadiyat Island, Abu Dhabi within 12 to 18 months, the company’s CEO Talal Al Dhiyebi said.

The company’s acquisition of large land plots in Saadiyat Island offers good opportunities to develop new luxury projects, Al-Ittihad Newspaper reported, citing Al Dhiyebi.

Abu Dhabi's largest property developer also considers the launch of new projects offering apartments and land plots that suit medium-income earners over the coming period, especially after the successful delivery of Alreeman and Lea, he added.

Moreover, he expected the company to launch a project or two over the coming period.

Aldar currently has projects that offer residential units with prices starting from AED 350,000 and penthouses with prices surpassing AED 220 million, he said.

During the first quarter of 2019, Aldar logged an AED 1.76 billion in profits, versus AED 1.47 billion in Q1-18.