The developer’s revenue also experienced substantial growth, rising by 20% to AED 6.8 billion compared to AED 5.7 billion in the first half of 2023. This surge was primarily attributed to the successful launch of new projects and high demand for residential properties, particularly in Abu Dhabi.
Aldar's development business achieved impressive sales of AED 11.6 billion, marking a 50% increase year-on-year. The company attributed this success to its strategy of launching high-quality residential communities that meet the needs of a diverse customer base. Aldar's Chairman, Mohamed Khalifa Al Mubarak, emphasized the positive impact of the UAE's robust economic fundamentals and socio-economic reforms, which have enhanced the country’s attractiveness as a prime investment and business destination.
The company’s investment portfolio, including retail, commercial, and hospitality assets, also contributed significantly to the overall financial performance. Occupancy rates in Aldar's commercial properties remained high, driven by solid consumer and business confidence.
Aldar's strategic focus on sustainability and innovation has been a key driver of its growth. The developer continues to invest in green building technologies and sustainable practices, aligning with the UAE's vision for a sustainable future. The company has also expanded its presence in key international markets, including Egypt and the UK, further diversifying its investment portfolio.
As part of its ambitious growth strategy, Aldar launched several new projects in the first half of 2024. These include luxury residential communities and mixed-use developments that cater to the evolving needs of residents and investors. The company's commitment to delivering high-quality developments has been recognized with numerous awards and accolades within the real estate industry.
Aldar's robust financial performance is also reflected in its dividend payouts. The company has announced an interim dividend of 12 fils per share for the first half of 2024, reinforcing its commitment to delivering sustainable value to its shareholders.
Looking ahead, Aldar plans to continue leveraging its strong market position and expanding its portfolio through strategic acquisitions and partnerships. The developer aims to capitalize on emerging opportunities in the real estate sector, both within the UAE and internationally.
Aldar's impressive financial results for the first half of 2024 underscore the effectiveness of its growth strategy and its ability to adapt to changing market conditions. The company's focus on sustainability, innovation, and customer-centric development has positioned it as a leading player in the global real estate market.