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Aldar profits rise
- United Arab Emirates: Wednesday, January 23 - 2008 at 09:36
The UAE's second largest real estate developer, Aldar Properties, posted record quarterly profits on Tuesday powered by property sales and a rise in land prices, reported Reuters. Net income of AED531mdirhams for the three months to Dec 31 rose by almost 23 per cent. Full-year profit rose 55 per cent to AED1.94bn, the company said in a statement. The company posted an operating profit of AED120.1m to reverse a loss of AED164.7m in the previous year.
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Amena Bakr, Senior ReporterWednesday, January 23 - 2008 at 09:36 UAE local time (GMT+4)
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