The project name that was scheduled for transfer was not disclosed.
listed in Abu Dhabi In its Q4 2024 results update, chairman Mohamed Khalifa Al Mubarak stated that Aldar Properties would begin delivering its first retail and residential developments in the Saadiyat Cultural District in 2025.
In the upcoming year, he stated, “we think that new development launches across geographies and the expansion of our recurring income portfolio will fuel our growth.”
The project name that was scheduled for transfer was not disclosed.
Four of the developer’s twelve projects from the previous year were launched in the fourth quarter.Â
Over the next two to three years, revenue recognition will be fueled by the group’s development backlog, which has grown to 54.6 billion UAE dirhams ($14.87 billion), with an AED 45.9 billion UAE backlog.
According to the update, Aldar’s develop-to-hold pipeline has grown to AED 13.3 billion, enabling the portfolio to increase in size, diversification, and earnings over the next three years.
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