In an interview with Al Arabiya, Talal Al Dhiyebi, CEO of Aldar Real Estate Group, revealed that the occupancy rate in the company’s residential properties exceeds 95%. He said that sales of existing projects in the first half amounted to 5.3 billion dirhams, 5 billion of which were in the UAE and the rest in Egypt.
He pointed out that the company hopes, with the expansion and its ambitious plans, to balance the two main sectors in the Aldar Group, namely real estate development and investment, in terms of contributing to the company’s profits, a matter that Al-Dhiyabi said may vary from one season to another, and they hope it will remain between 40% and 60%. Note that they contributed almost equally to the profits of the last quarter.
Aldar recorded a 54% increase in profits for the second quarter, supported by record sales thanks to strong domestic and global demand.
Profits attributable to shareholders amounted to 803.99 million dirhams ($218.91 million) for the three months ended June 30, compared to 520.83 million dirhams a year ago.
The group’s sales in the second quarter rose by 33% to 3.12 billion dirhams.
Al Dhiyebi also pointed out that most of the acquisitions made by Al Dar were made at the end of the first quarter, and some of them in the second and third quarters, and will be included in the company’s upcoming results, while most of the current results came from existing assets.
He explained that the company is witnessing growth in all sectors, and hopes to move forward in the promising Egyptian market after entering it. He said: “We have ambitious plans to expand in the assembly area, the administrative capital, the coast, 6 October, Sheikh Zayed and the Red Sea, and we are studying many opportunities in the Egyptian market.” .
On the other hand, the CEO of Aldar Properties Group indicated that the results of “Sodic“The Egyptian is good,” he said, “We see it as the best real estate company in Egypt.”
In mid-December, the Egyptian Stock Exchange said in a statement that the compulsory purchase offer submitted on SODIC shares from the alliance of Aldar Ventures International Holdings and Gamma Forge, with a value of 6.09 billion pounds, was implemented.