Monday 31 October 2011

Aldar Properties Cuts 24% of Workforce as Abu Dhabi Company Restructures - Bloomberg

Aldar Properties PJSC (ALDAR), an Abu Dhabi developer, said it will reduce its workforce by 24 percent as it restructures.

“Aldar’s new strategic plan takes into account the existing market environment,” the company said in a statement posted on the Abu Dhabi bourse today. It will “selectively target new developments where there is demonstrable demand, and increase Aldar’s large-scale fee-based development activities.”

The company will shed 105 jobs and “continue to concentrate on its core Abu Dhabi market,” according to the statement.


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