Aldar’s core business unit comprises of three segments: property, development and sales. Group sales in Q3 2022 reached AED3.93 billion, a 46 percent from the same period last year.
Year-to-date sales were record breaking for the company at AED9.3bn, exceeding the total group sales achieved in 2021 at AED7.2 billion.
Gross profit margin increased by 37 percent and Q3 sales in the UAE amounted to AED3.19 billion, up by 18 percent from the same period last year.
Total UAE sales achieved year to date stands at AED7.20 billion.
Sales were driven by local and international demand for developments including Yas Park Gate, Louvre Residences, Fay Alreeman, Grove Heart and Yas Golf Collection.
Aldar is on track to meet its commitment to create job opportunities for 1,000 UAE nationals by 2026. Since the introduction of the NAFIS programme in September 2021, Aldar has hired 260 employees across the group as part of the programme. Today, UAE nationals represent 40 percent of Aldar’s workforce compared to 33.7 percent at the end of Q3 2021.
“Having demonstrated strength and agility through various economic cycles, Aldar continues to accelerate its sustainable growth in a bullish UAE market, while creating long-term value for its shareholders. As such, we are intent on maintaining our pace of investment activity in the region, backed by our strong liquidity position and driven by our transformational growth strategy,” said Talal Al Dhiyebi, Group CEO of Aldar Properties.
“We will also continue to activate our extensive land bank to sustain our elevated level of development sales, in line with the growth of off-plan sales to international and expatriate buyers as Abu Dhabi’s position as a global investment destination matures,” he concluded.
Follow us on
