Abu Dhabi's Aldar plans to spend $1.36 bln on deals this year | Reuters
Abu Dhabi's Aldar Properties (ALDAR.AD) plans to spend at least 5 billion dirhams ($1.36 billion) this year acquiring assets in the retail and education that generate recurring revenues, its chief financial officer said on Wednesday.
Aldar, who counts Abu Dhabi state fund Mubadala (MUDEV.UL) as a key investor, this month said it bought a shopping centre in the United Arab Emirates' Ras Al Khaimah for 410 million dirhams.
"We would look to modestly leverage anything we went into but we want to deploy our 5 billion (dirhams) surplus capital ... as quickly we can," Chief Financial and Sustainability Officer Greg Fewer said on a call with reporters.
"We see the richest pipeline in recurring revenue assets," he said, and that developer of Abu Dhabi's Formula One race track was also keen on residential and commercial property.
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