Aldar Properties PJSC (“the Company”), Abu Dhabi’s leading property development investment and management company, on Monday announced its financial results for the year ended 31 December 2012 reporting a net profit for the year of Dh 1,340.7 million, an increase of 109% on net profit of Dh 642.5 million for same period last year.
This has led to earnings per share of Dh 0.30 compared to earnings per share of Dh 0.15 for the previous year increasing net asset value to Dh 1.82 per share from Dh 1.58 per share in 2011 on a fully diluted basis.
A strong final quarter drove revenue for the year to Dh 11,403.9 million compared to Dh 6,742.6 million in 2011. The increase was driven by the continued success of our ongoing programme of unit and land plot deliveries to our customers including the Government of Abu Dhabi.
109%!!... so I suppose the real estate market is back... with a vengeance!
ReplyDeleteRead the "reality of real estate" article posted feb 3rd. Aldar is heading for a merger with Sorrouh to form the largest real estate firm in the GCC. They must be doing great as they are about to swallow Sorrouh. The interesting thing would be to see how Emaar and Nakheel play this out as they now are faced with pressure/enemy/ally that is much bigger than them. Rumors are floating around that they might consider a merger too. Buy Emaar stocks, when u can, it is too expensive now (they're stock nearly doubled in the past two months) hmm i smell fish
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