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Aldar Properties net profit up 13% to Dh2.56b

Aldar Properties net profit up 13% to Dh2.56b

  • Aldar Properties net profit up 13% to Dh2.56b

Aldar Properties, the Abu Dhabi-based real estate developer, reported on Monday Dh2.56 billion in net earnings for 2015, marking a 13 per cent boost over the Dh2.27 billion reported in 2014.

The outcomes put net earnings for the fourth quarter of 2015 alone at Dh749.9 million-- up 4.4 per cent from the Dh718 million reported in the same quarter in 2014.

Earnings for the complete year reached Dh4.58 billion, falling 30 per cent from the Dh6.55 billion recorded in 2014.

Aldar recommended a cash dividend of 10 fils per share-- an 11 per cent increase over 2014.

The company said it expected to remain to see growth in 2016, with Yas Mall, Aldar's largest possession, now completely stabilised and reaching full tenancy.

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