Abu Dhabi – Mubasher: The net profits after tax of Aldar Properties jumped by 47% year-on-year (YoY) higher net profits at AED 6.50 billion in 2024, versus AED 4.41 billion.
Revenues hiked by 62% to AED 22.99 billion at the end of December 2024 from AED 14.16 billion, according to the financial results.
Basic and diluted earnings per share (EPS) increased to AED 0.69 last year from AED 0.48 in 2023.
Mohamed Khalifa Al Mubarak, Chairman of Aldar, said: “Aldar Group sales increased 20% to a record high of AED 33.60 billion, largely driven by exceptional demand for our residential developments in key UAE destinations.”
“In 2025, we will deliver our first residential and retail concepts in Saadiyat Cultural District, which will be a milestone moment for Aldar as we contribute to Abu Dhabi’s position as a global capital of arts and culture,” Al Mubarak mentioned.
Talal Al Dhiyebi, Group CEO of Aldar, noted: “Group sales have more than doubled during this period, while our development revenue backlog has increased threefold to AED 55 billion. At the same time, the value of our investment properties portfolio has grown considerably to AED 42 billion.”
At the end of September 2024, the company’s net profits after tax jumped by 52% to AED 4.57 billion from AED 3 billion a year earlier.
