Tue, 2019-05-14 23:03
ABU DHABI: Aldar Properties, the largest property developer in Abu Dhabi, plans to spend 2.75 billion dirhams ($749 million) in 2019, its chief financial officer said after the company reported a 17.3 percent drop in first-quarter profit.
The state-linked builder of Abu Dhabi’s Formula One circuit made a net profit attributable to owners of 553 million dirhams in the three months to March 31, it said on Tuesday. That compared with a net profit attributable to owners of 669.5 million dirhams in the same period a year earlier.
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