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ALDAR category
Aldar builds on success as momentum increases
Aldar Properties, the developer behind some of Abu Dhabi’s most eye-catching projects, yesterday posted its third straight profitable quarter since the company’s debt was restructured in January.
Dana Gas, Aldar Lead Convertible Sukuk Gain on Yield Hunt: Islamic Finance
Aldar’s convertible sukuk gained 4 percent since June 30. While bondholders are unlikely to convert with its stock at 2.37 dirhams versus a conversion price of 5.69 dirhams, investors are banking on government support for full redemption at maturity. The company is 19.2 percent-owned by state-backed investor Mubadala Development Co.
Aldar posts Dh789m loss
Dubai: Aldar Properties, Abu Dhabi’s property development, investment and management company, posted a net loss of Dh789.5 million for the first six months of 2010, compared to a net profit of Dh1.14 billion for the same period last year as sales declined. The company expects better results for the second half of 2010 on the back of revenue generated from the delivery of the Al Raha Beach and Al Gurm projects. The company also made Dh695 million worth of sales during the first six months of this year which will be recognised in future periods.
Abu Dhabi’s New Souk to be Inaugurated Middle of This Year
ABU DHABI — The New Souk which will form part of the Central Market project of Aldar Properties in Abu Dhabi will be opened in the middle of this year.
Aldar ‘Save the Environment’ Campaign wins three advertising awards
UAE. An environmental awareness advertising campaign devised by Aldar Properties, Abu Dhabi’s leading property development investment and management company has been recognised at the Dubai Lynx Advertising Awards.
Aldar signs on first House of Fraser store in MENA region
Aldar Properties and Retail Arabia International have signed a 10 year lease agreement that will see the development of the region’s first House of Fraser store at Central Market in Abu Dhabi. House of Fraser will be the anchor store for Emporium.
Dewan appointed by Aldar Properties to design new ‘Aldar Academies’ school
Dewan Architects and Engineers, one of the region’s leading architectural and engineering consulting firms, has been appointed by Aldar Properties PJSC, Abu Dhabi’s premier real estate development, management and investment company, to design a new world-class education facility that will be part of Aldar Academies, a wholly-owned subsidiary of Aldar Properties.
Mixed day for UAE markets
Abu Dhabi Securities Exchange (ADX) shed 0.21 per cent to close at 2,925. The index dropped slightly from its four-month high t on Monday, its peak since mid-November, before Dubai World sought a debt standstill from its creditors and regional markets slumped.
