Aldar Properties has posted a $3.4 billion loss for 2010 after massive write-downs on its asset values. The leading Abu Dhabi property developer has $5.2 billion in projects under construction.
Last month Abu Dhabi Government came to the rescue of the otherwise insolvent company acquiring $3 billion in infrastructure on Yas Island, $1.5 billion of residential units and issuing a $760 million bond to a sovereign wealth fund.
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