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The profits of Aldar Properties in the first quarter decreased by 46% to reach 300 million dirhams, compared to the same period last year.
According to Arabia Net, the company attributed the decline in its profits to a decrease in the profit margin to 39% and a rise in direct costs by 2%.
The company recorded an increase in the fair value losses of real estate investments of 135 million dirhams, compared to 40 million dirhams in the comparison quarter.
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