Abu Dhabi's Aldar returns to profit on sale of completed units, land - bi-me.com

Aldar Properties PJSC, Abu Dhabi's leading property development investment and management company, today announced financial results for the six month period ended 30th June 2011, showing a continued growth in recurring revenues and ongoing progress on development projects.

Highlights
 Net Profit for H1 2011 of AED 316.4m (H1 2010: Net loss of AED 789.5m)
 Net Profit for Q2 2011 of AED 127.3m (Q2 2010: Net loss of AED 475.3m)
 Revenue for the period of AED 1,560.4m (H1 2010: AED 427.0m)
 Recognition of revenue from sale of completed units at Al Gurm, Al Bandar and Al Raha Gardens
 Continued increase in recurring revenue from investment portfolio and operational businesses to AED 728.3m (H1 2010: AED 354.6m)
 Net assets up 9.5 per cent from 31 December 2010
 Handover of first phase of Al Zeina residential development at Al Raha Beach began
 Continued delivery across portfolio – IKEA Yas Island, Al Raha Gardens Plaza (community retail), Sheikha Salama Mosque, Motor World phase 1.

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