A jump in the value of Aldar’s investment properties boosted its fourth-quarter results on Monday, as the company continues to position itself as Abu Dhabi’s biggest landlord.
Fourth-quarter profit rose 5.6 per cent in 2015 compared with the year-earlier period, Aldar Properties stated on Monday.The company reported that profit attributable to its shareholders increased to Dh735 million from Dh696m during the same period a year earlier, helped by a valuation gain of Dh568m on its vast rental portfolio, but also hampered by writedowns of Dh257m on some of its land and property costs.
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