Abu Dhabi – Mubasher: Aldar Properties’ ordinary general meeting (OGM) increased foreigners’ shareholding ceiling to 49% of the company's capital from its current 40%.
The OGM also approved the balance sheet as at 31 December 2017, the Abu Dhabi-listed developer said in a statement to the Abu Dhabi Securities Exchange (ADX).
Aldar’s shareholders also approved the distribution of AED 943.5 million in cash dividends.
Aldar Properties and Emaar Properties have created an AED 30 billion ($8.2 billion) joint venture focusing on the development of mega projects in national and global scales.
The ADX-listed developer last posted an 80% year-on-year decrease in net profits during the fourth quarter of 2017.
