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Aldar expects to tap international institutional funds' interest by raising the level of disclosure in its financial reporting. Image Credit: Shutterstock

Dubai: Abu Dhabi’s Aldar Properties is raising the ceiling on internal transparency of its operations. It has become the first company in the GCC to adopt European Public Real Estate Association’s (EPRA) best practice for disclosure.

These recommendations encourage companies to provide detailed property-specific metrics, which are followed by global real estate-focused institutional investors. These disclosures are in addition to normal IFRS reporting requirements.

It allows for better like-for-like comparisons over time and between peer groups on key performance measures including adjusted earnings, net asset value, yield, vacancy rate and cost ratios.

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Aldar, which has been a member of EPRA since 2018, has included the additional performance indicators for the last two financial years in the company’s 2020 annual report.

Greg Fewer, Chief Financial and Sustainability Officer at Aldar Properties, said, “Greater data transparency and best-in-class financial reporting remain an integral part of Aldar’s engagement with investors and other important stakeholders. We believe that detailed disclosures will contribute to attracting increased global flows of capital into the UAE and the regional real estate sector.”