UAE's Aldar focuses on home market as crisis bites

Aldar Properties ALDR.AD, Abu Dhabi's top property developer by market value, will focus on projects in the emirate for the next five years, looking to weather the sharp downturn in its local market, Aldar's chief said.

"I think we've got at least the next nine months of continuing great caution and flat market performance here," Aldar Chief Executive John Bullough told the Reuters Global Real Estate Summit on Tuesday.

"And I think market-matching quality and location is going to be really critical factors for the next year."