Net profit growth of Aldar Properties and construction of Aljada project

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