Aldar seeks government assistance following loss
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Aldar seeks government assistance following loss

Aldar seeks government assistance following loss

Aldar Properties has entered into talks with the Abu Dhabi Government for financial support in the wake of a continued slump in the property market and more than Dhs10bn ($2.72bn) of debt coming due next year, the National has reported. The assistance could come in the form of a 25-year loan of tens of billions of dirhams that would be transferred to Aldar over three to four years, a senior government official told the daily. Confirmation of the long-anticipated talks came as Aldar reported its heaviest loss yet - Dhs731.2m in the third quarter compared with a profit of Dhs270.1m in the same period last year.

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