Abu Dhabi – Mubasher: The net profits attributable to the owners of Aldar Properties hiked to AED 3.92 billion in 2023 from AED 2.94 billion in 2022.
Revenue and rental income amounted to AED 14.16 billion last year, higher than AED 11.20 billion, according to the financial results.
Basic and diluted earnings per share (EPS) rose to AED 0.48 as of 31 December 2023 from AED 0.36 a year earlier.
Total assets reached AED 72.85 billion in 2023, up from AED 61.27 billion as of 31 December 2022.
During the January-December 2023 period, Aldar awarded 49 contracts at a combined value of AED 22 billion for a series of projects across Abu Dhabi.
Dividends
The ADX-listed group recommended a cash dividend of AED 0.17 per share, which represents a total payout of AED 1.3 billion in 2023.
The 10-year dividend compound annual growth rate (CAGR) of 9% demonstrates Aldar’s solid track record of delivering sustainable shareholder value.
Mohamed Khalifa Al Mubarak, Chairman of Aldar, said: “Aldar accelerated its transformative growth trajectory in 2023 to deliver remarkable earnings growth, with an intensive programme of new development launches and the enhanced performance of its recurring income portfolio.”
“By further capitalising on secular trends and the transition to a net zero economy, we look forward to continuing to play a central role in the UAE’s dynamic socioeconomic development and the growth of its real estate sector in the coming years,” Al Mubarak continued.
Talal Al Dhiyebi, CEO of Aldar, commented: “Development sales in 2023 surged tenfold compared to 2018, the gross asset value of our investment property portfolio grew by more than fifty percent, and net profit more than doubled, reaching AED 4.40 billion.”
In the first nine months (9M) of 2023, the group recorded 41%higher net profits at AED 3 billion, compared to AED 2.13 billion in 9M-22.
