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Development sales for the first half of the year were AED1.1 billion (USD0.3 billion) Development sales for the first half of the year were AED1.1 billion (USD0.3 billion)

Aldar Delivers 20 Percent Increase in Gross Profit for Q2

Aldar Properties announced its operational highlights and development overview for the first half of this year, delivering a resilient underlying performance across the business.

In the second quarter (Q2) of this year, Aldar’s Gross profit increased by 20 percent to AED649 million (USD176.69 million). According to the company, in the development business, Aldar Properties launched a new masterplanned community, Alghadeer, and reinforced the company’s reputation for delivery when handover of land plots and villas at Nareel Island, Al Merief and West Yas commenced.

"Aldar delivered a solid underlying performance for the first half of this year alongside a number of landmark announcements. We have cemented our position as Abu Dhabi's leading real estate investment company by completing one of the country's largest ever real estate acquisitions,” commented Talal Al Dhiyebi, CEO, Aldar Properties.