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Sorouh to focus on revenues from rental
Sorouh Real Estate is pinning its hopes on a rise in revenues from rental properties over the next two years after posting a second-quarter profit drop of almost 80 per cent. Sorouh is now counting on the delivery of homes at Sun and Sky Towers, on Al Reem Island, and Al Rayyana to boost rental income to Dh400m from Dh170m by the end of 2012.
Sorouh ranked as one of top GCC brands
Abu Dhabi-based Sorouh Real Estate announced on Saturday that a report recently ranked the company as one of the top 50 brands in the GCC, making it the only real estate developer to rise in its brand value.
Aldar posts Dh789m loss
Dubai: Aldar Properties, Abu Dhabi’s property development, investment and management company, posted a net loss of Dh789.5 million for the first six months of 2010, compared to a net profit of Dh1.14 billion for the same period last year as sales declined. The company expects better results for the second half of 2010 on the back of revenue generated from the delivery of the Al Raha Beach and Al Gurm projects. The company also made Dh695 million worth of sales during the first six months of this year which will be recognised in future periods.
Abu Dhabi’s New Souk to be Inaugurated Middle of This Year
ABU DHABI — The New Souk which will form part of the Central Market project of Aldar Properties in Abu Dhabi will be opened in the middle of this year.
Aldar ‘Save the Environment’ Campaign wins three advertising awards
UAE. An environmental awareness advertising campaign devised by Aldar Properties, Abu Dhabi’s leading property development investment and management company has been recognised at the Dubai Lynx Advertising Awards.
Aldar signs on first House of Fraser store in MENA region
Aldar Properties and Retail Arabia International have signed a 10 year lease agreement that will see the development of the region’s first House of Fraser store at Central Market in Abu Dhabi. House of Fraser will be the anchor store for Emporium.
Dewan appointed by Aldar Properties to design new ‘Aldar Academies’ school
Dewan Architects and Engineers, one of the region’s leading architectural and engineering consulting firms, has been appointed by Aldar Properties PJSC, Abu Dhabi’s premier real estate development, management and investment company, to design a new world-class education facility that will be part of Aldar Academies, a wholly-owned subsidiary of Aldar Properties.
Mixed day for UAE markets
Abu Dhabi Securities Exchange (ADX) shed 0.21 per cent to close at 2,925. The index dropped slightly from its four-month high t on Monday, its peak since mid-November, before Dubai World sought a debt standstill from its creditors and regional markets slumped.
