Dubai Abu Dhabi’s biggest property developer Aldar Properties PJSC reported a net profit of Dh642.5 million last year compared to a loss of Dh12.658 billion for same period last year.
Abu Dhabi real estate deals hit Dh43b last year
Nearly Dh43 billion worth of real estate transactions were made in the capital last year, Abu Dhabi Municipality announced yesterday in a statement. This included Dh3.7 billion worth of land sales as well as mortgage transactions of about Dh39 billion.
The deals are a 5 per cent increase over the Dh41 billion in real estate transactions recorded by the municipality in 2010, Adel Hussain, media consultant at the municipality, told Gulf News.
Gulf construction industry remained stable in 2011
The construction pipeline in the Gulf region remained unchanged at $1.8trn (Dhs6.6trn) last year, despite economic challenges that have affected the real estate and construction sectors in recent past, Gulf News has reported. Saudi Arabia remains Mena's largest construction market at almost $660bn.
