Aldar Properties' full-year net profit jumped to 642.5 million dirhams ($175 million) in 2011, boosted by land sales to the government and increased residential sales.
Abu Dhabi's largest developer by market value, returned to black after it posted a loss of 12.7 billion dirhams in 2010 on massive writedowns on its assets.
The company's board has proposed a dividend for the first time since the ailing company was rescued by Abu Dhabi in 2010 with a $5.2 billion bailout.
No comments:
Post a Comment