|10-22-2014, 09:43 PM||#1|
UAE`s Aldar to launch new housing projects in next 3-4 months
More real estate projects continue on being developed in the UAE at a fast rate this year with recently Aldar, Abu Dhabi`s largest property company and majority-owned by the emirate`s government, to launch new housing projects within the next three to four months.
Aldar, which was rescued by a $10 billion state bailout in 2010 following a market crash, plans to start new projects that will mostly target "Class B" mid-income buyers.
The Abu Dhabi`s largest property company recent merger with its real estate developer opponent, Sorouh Real Estate, will allow both of the developers to expand across the country and compete more efficiently in the building market.
Their target customer and lower prices will help them enlarge on the Emirates soil compared to overall incline of house prices in Abu Dhabi by 25 percent.
It is expected that Aldar will generate throughout the third-quarter a net profit of between 382.6 million and 441.9 million dirhams from a quarterly profit of 407.5 million dirhams in the prior-year period.
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