People look at a model of Aldar’s Yas Acres Project
Sustained demand for its recent launches ensured Aldar Properties closed 2019 with a profit gain. File picture of a model of the Yas Acres Project. Image Credit: Gulf News Archive

Dubai: Aldar Properties recorded a net profit of Dh1.98 billion for 2019, a gain of 7 per cent over the previous year. The Abu Dhabi developer has recommended a cash dividend of Dh0.145, which is a 4 per cent increase on the 2018 outgo.

“We are seeing clear signs of growth in key segments of the real estate market,” said Talal Al Dhiyebi, CEO. “The improving operating environment is feeding into Aldar’s performance, through a 53 per cent increase in development sales, a 30 per cent increase in hospitality profit, and an 80 per cent rise in profit from Aldar Education.

“We remain confident in our platform’s ability to grow and deliver sustainable returns to our shareholders.”