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Abu Dhabi’s Aldar posts $129.4m Q2 net loss
The company said first-half loss was AED789.5m after a profit of AED1.14bn a year earlier. “The decrease was principally due to lower property sales recognised,” Aldar said in an e-mailed statement. “The second half of this financial year is expected to be different due to the revenue generated from the delivery of Aldar’s projects at Al Raha Beach and Al Gurm.”
Laing O’Rourke to close Mideast division
However, it was confirmed that Laing O’Rourke will maintain its relationship with Aldar, with whom it is working on the AED54bn ($14.7bn) Al Raha beach project.
