Aldar net profits up 9% to Dh638m | GulfNews.com:
"Aldar Properties, the Abu Dhabi based developer, reported on Tuesday Dh638 million in net profits for the third quarter of this year, marking a nine per cent increase on the Dh584 million reported in the third quarter of last year. The growth was mainly driven by rising recurring revenues and higher development profits on new developments.
Revenues for the third quarter 2015 were stood at Dh1.17 billion - down from Dh1.39 billion in the third quarter 2014.
“Aldar has delivered a solid performance in the third quarter by executing on our strategy to fully stabilise our recurring income portfolio and by bringing new quality developments to market. We continue to see strong demand in residential sales with Shams Meera and West Yas both performing well in the quarter, demand we will continue to respond to with quality residential products," said Mohammad Al Mubarak, Aldar's chief executive officer."
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