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Aldar Properties Delivers Strong Performance

Aldar Properties announced its financial results for the third quarter (Q3) of this year, which show a strong performance across the business.

During the Q3, the company launched its AED2.4 billion (USD653 million), 2,255 home master-plan development, Water's Edge, on the waterfront of Yas Island.

The first phase was launched at Cityscape Global in September and fully sold in a matter of days. Sales of homes at Water's Edge, West Yas, as well a land plot sale, took the total value of development sales during Q3 to AED 604 million (USD164.4 million).

Residential portfolio occupancy increased to 91 percent, while occupancy was stable in the office portfolio at 92 percent and at Yas Mall, which remained steady at 93 percent.