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Abu Dhabi’s Aldar posts USD168.3m net profit in Q1

15 May 2015

(MENAFN) Abu Dhabi-based Aldar Properties recorded a net profit of USD168.3 million in the first quarter of the year, marking a decent increase of 36 percent year-on-year, Arabian Business reported.

The company attributes its prolific results to reduced costs and increased income from its rental businesses. The quarterly profit compares to the USD123.4 million recorded a year earlier.

Aldar’s core businesses revolve around property sales and construction, but it also undertakes housing leases, retail and office units. Additionally, Aldar has a portfolio of 2,500 hotel rooms.

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