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The Bridges rendering The Bridges rendering

Aldar Properties Achieved Robust Growth

Aldar Properties revealed a 39 percent year-on-year jump in gross profit in the first quarter of the year, reaching the value of AED753 million (USD205 million).

The company saw successful projects and performances across its operational portfolio, which contributed to the significant growth, such as total development sales reached AED1 billion (USD272.24 million), led by land and plot purchases in West Yas and Al Nareel.

Furthermore, it achieved 95 percent trading occupancy of Yas Mall’s units and 84 percent hotel portfolio occupancy during the reviewed period. 

Looking ahead, the developer also announced AED3 billion (USD816.73 million) investment programme to grow recurring revenues, including The Bridges, a six tower mid-market development with 1,272 units already sold-out, demonstrating a continuous strong demand.