Net profit growth of Aldar Properties and construction of Aljada project

Net profit growth of Aldar Properties and construction of Aljada project

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  • Net profit growth of Aldar Properties in Q1 2022 and completion of the first of the residential phases of Aljada project in Sharjah

New record рrice per m² of residential property was broken in Dubai:

  • $37,000 per m²

This is how much the buyer paid for an apartment with 3 bedrooms in the ultra-premium complex, Bulgari Resort and Residences. Dubai was ranked the third place globally as the city with the highest residential capital growth. The growth recorded at 17%, in 2021.

Aldar Properties announced net profit growth to $187 million in Q1 2022.

This is 26.5% more than in Q1 2021 ($148 million). Revenue rose by 31.5% to $730 million compared to Q1 2021. Earlier, Aldar Properties announced the start of sales of Louvre Abu Dhabi Residences.

The first of the residential phases at Sharjah’s $6.5 billion Aljada project is complete.

Developer – Arada Properties. The first phase provides for the delivery of 278 residential units in 2 apartment buildings:

  • 1,2,3-bedroom apartments
  • Penthouses

Sources: The National News, Gulf News

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