Business | Property
Aldar's realty portfolio worth $72b
Abu Dhabi-based real estate developer Aldar Properties' development projects across the portfolio are valued at $72 billion, its chief executive officer said.
- By Himendra Mohan Kumar, Staff Reporter
- Published: 00:07 June 27, 2008
Abu Dhabi: Abu Dhabi-based real estate developer Aldar Properties' development projects across the portfolio are valued at $72 billion, its chief executive officer said.
"These projects are spread across the emirate of Abu Dhabi," Ronald Stephen Barrott told Gulf News in a telephone interview from Spain where he addressed an industry conference.
The size of Aldar's portfolio has grown almost 10.77 per cent since January this year.
Barrott said Aldar's market capitalisation stands at $8 billion and makes it one of the most valuable listed companies in the UAE.
"So far, our market borrowings this year are equivalent to $1 billion in dirhams," said Barrott. Asked about the company's plans for future borrowings, Barrott said that they would be "need based and as per our business requirements."
He said Aldar has started delivering residential units at its Al Raha Beach development and delivery of residential units at Al Bandar will begin next year and the delivery of Al Zeina units will commence in the autumn of 2009.
"In early 2010, we will see early elements of Al Muneera being delivered," said Barrott.
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