Aldar Properties, Abu Dhabi's largest developer, has made good on a promise to return to profitability in the first quarter, reporting a net profit of Dh189.1 million (US$51.4m).
Revenue jumped to Dh784.7m, more than four times the amount for the same period last year, the company reported.
Most of the revenue, Dh433.3m, came from sales of completed properties at Al Gurm and Al Bandar, the company said.
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