Abu Dhabi – Mubasher: Aldar Properties’ chief development officer Talal Al Dhiyebi has denied news that his company has acquired another firm.
Aldar is currently focusing on its home emirate of Abu Dhabi, he told CNBC Arabia in an interview, noting that he was optimistic regarding the emirate’s real estate sector.
We will be focusing on medium-income projects in the coming period, he added.
Earlier this year, Aldar’s CEO Mohamed Khalifa Al Mubarak had said his company was planning to invest AED 1.9 billion ($517.4 million) in 2017.
Earlier on Tuesday, the Abu Dhabi-based and listed developer posted AED 636.1 million in profits in the first quarter of 2017, down 2% from AED 649.1 million in the year-ago period.
