Group CEO said Aldar Real EstateTalal Al-Dhiyabi, said that “Al Dar” achieved very strong results in terms of revenues and profits in the first profit of 2022, which witnessed the addition of the results of the Egyptian “SODIC”, after its acquisition last year, taking into account the Egyptian currency difference, calculating it according to the average price during quarter.
Talal Al-Dhiyabi added, in an interview with Al-Arabiya, today, Wednesday, that the company has a long-term view of the Egyptian market and is investing for future periods, and movements in the currency are not strange, but it is subject to a set of global geopolitical challenges that affect currencies in emerging markets, which is part of the work. company’s normal.
He explained that the Egyptian economy is strong and witnessing a strong growth rate on the ground, and that “Al-Dar Real Estate” is looking forward to increasing its investments in Egypt in the future.
The CEO revealed that Aldar Properties delivered 1,000 housing units, with a collection value of about 1.6 billion dirhams, in the first quarter of this year, and it is expected that this value will reach 5 billion dirhams until the end of 2022.
Al-Dhiyabi said, “We hope to launch more than 3,000 units of knife this year, and we are targeting sales between 7 and 8 billion dirhams this year, which is the highest sales since the company’s establishment.”
He pointed out that the Egyptian market sales amounted to more than two billion dirhams in the first quarter of 2022.
Regarding the indicators of price increases, the CEO of Aldar Properties Group said that the prices of villas in Abu Dhabi increased by 15-20%, while villas on the sea increased from 25-30%, and the prices of apartments on Al Reem Island increased by 3-5%. While luxury apartments on the beach increased by 15-20%, and the Emirate of Abu Dhabi achieved the highest sales percentage in its history, after prices reached 3 thousand dirhams per foot, in the first quarter of 2022, on an annual basis.
The CEO explained that the investor is looking for luxury units in the main investment areas, especially with large government investments in museums and major projects.
He said that Aldar Properties has acquired more than 6 million square meters, which will contain more than 2,000 villas in Saidiat and is being launched in the second half of 2022.
He pointed to the increase in the demand from European and Indian investors, along with Russians and Ukrainians, to invest in the UAE, stressing that the investments of non-resident foreigners in the UAE in the first quarter of 2022 are equivalent to the total foreign direct investments achieved in 2021.
Al-Dhiyabi attributed this to geopolitical reasons, with investors knowing that the UAE is a safe and promising country in light of the launch of many government incentives.