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Aldar is the largest listed real estate group in Abu Dhabi by market capitalisation, and one of the region’s most recognised master developers.

Net profit AED 2.0bn (2016: AED 2.8 BILLION)
Net operating income from recurring revenue assets AED 1.6bn (2016: AED 1.6 BILLION)
Total assets AED 36bn (2016: AED 36 BILLION)
Gross profit AED 2.7bn (2016: AED 2.6 BILLION)
Earnings per share 25 fils (2016: 35 FILS)
Off-plan development sales AED 3.5bn (2016: AED 3.5 BILLION)
Dividend per share 12 fils (2016: 11FILS)
Aldar AR2017 Net Profit
Aldar AR2017 Revenue
Aldar AR2017 Gross Profit
Aldar AR2017 Dividend per Share
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Aldar is the largest listed real estate group in Abu Dhabi by market capitalisation, and one of the region’s most recognised master developers.

Chairman’s Statement

LONG-TERM SHAREHOLDER VALUE

Mohamed Khalifa Al Mubara

Mohamed Khalifa Al Mubarak - Chairman

We play a significant role in the growth and diversification of Abu Dhabi’s economy, in line with its 2030 Vision.

The economy was steady in 2017 following a year characterised by a slowing global economy and ongoing commodity price weakness in 2016. Notably, oil prices remained higher than in the previous year and moved upwards in the second half, finishing the year above US$60 per barrel. More importantly, the non-oil economy is expected to grow at a faster rate, supported by continuing government investment in infrastructure projects as well as the increasing interest in Abu Dhabi as a destination of choice for travellers, residents and businesses.

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Chief Executive’s Review

DELIVERING DESIRABLE DESTINATIONS

Talal Al Dhiyebi

Talal Al Dhiyebi - Chief Executive Officer

Our strategy, which intertwines our success with Abu Dhabi’s ever-increasing reputation as a desirable place to live, work and visit, is creating value for customers, shareholders and the Emirate.

Aldar’s uncompromising focus on delivering desirable destinations supported both a strong operational and financial performance during 2017.

Despite wider macroeconomic and geopolitical challenges across the region, there are clear signs of strength in the Abu Dhabi property market demonstrated through strong sales for our developments and robust occupancy across our portfolio of diverse real estate assets. As key pieces of infrastructure as well as entertainment and cultural attractions drive people to the Emirates, Aldar’s high-quality developments cater for the wide-ranging needs of residents, investors, businesses and visitors looking to Abu Dhabi as a destination of choice.

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Financial Review

STRONG FINANCIAL PERFORMANCE

Greg Fewer

Greg Fewer - Chief Financial Officer

We are very pleased to see the progress that we have made having reopened the Abu Dhabi off-plan market in 2014 and building the business to where it is today, firmly demonstrating the sustained value of the franchise.

2017 has been another successful year for Aldar. Whilst 2017 revenue and gross profit numbers appear similar to 2016, this doesn’t tell the full story. 2017 results were supported by strong underlying performance driven by growth within our development and our resilient asset management businesses.

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Year in review

February

2016 full year net profit up 8%

Strong financial performance supported by maturity of asset management business and significant land plot sales.

February

Moody’s upgrades Aldar to Baa2

Follows on from S&P upgrade to BBB in August 2016.

March

AED 3 billion investment plan committed

Four further development projectsannounced to support asset management business growth.

April

The Bridges launched

The Bridges, a high-quality, mid-market residential development on Reem Island, Abu Dhabi, launched and fully sold in three weeks.

May

Yas Acres construction contract

AED 2.2 billion in construction contracts awarded during first half of 2017, driven by Yas Acres and Mayan.

May

twofour54

Appointed development manager to first phase of new twofour54 media and entertainment freezone on Yas Island.

AUGUST

Repton School

Completion and handover of Repton School, the third investment plan asset to be completed.

SEPTEMBER

Water’s Edge launched

Launch of 2,255-unit Water’s Edge, a waterfront development on Yas Island, first phase sold out in the first week.

OCTOBER

The Bridges construction contract award

AED 745 million contract awarded to develop 1,272 unit development.

NOVEMBER

Board and management changes

Mohamed Khalifa Al Mubarak appointed as Chairman (previously Chief Executive Officer) and Talal Al Dhiyebi appointed Chief Executive Officer (previously Chief Development Officer).

DECEMBER

International Tower

Acquisition of AED 658 million International Tower office building, to support further short-term asset management growth.

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Aldar is the largest listed real estate group in Abu Dhabi by market capitalisation, and one of the region’s most recognised master developers.

Abu Dhabi is the largest of the seven emirates that comprise the United Arab Emirates (UAE). Occupying over 80% of the country’s territory on 700 kilometres of Arabian Gulf coastline, Abu Dhabi is the UAE’s capital and second most populous city with close to three million inhabitants.

The Emirate holds 6% of the world’s oil reserves and 3% of the world’s gas reserves according to OPEC. However, the Emirate’s long-term strategy is to diversify the Abu Dhabi economy away from its dependence on oil and gas as the single major revenue source, which currently make up about half of Abu Dhabi’s GDP. Its flexible approach allows it to adapt to changes in the macro-economic environment however its core areas are the development of a high-end tourism market and an economy-wide focus to raise productivity.

Aldar AR2017 Strategy Diagram