The net profit of Aldar Properties increased by 49% to reach about 1.2 billion dirhams in the second quarter of 2023, compared to profits of 804 million dirhams achieved in the same period last year.
The realized profits also exceeded the average expectations of research companies, which were referring to 766 million dirhams.
The increase in profits is attributed to the growth in revenues and rental income by 21% to 3.2 billion dirhams, in addition to the increase in real estate investment revaluation gains by 115% and the increase in financing income by 183%.
The net profit of Aldar Properties increased by 31% on an annual basis to reach 1.9 billion dirhams in the first half of this year.
The company said that it has achieved a record level of sales of development projects at a value of 11.6 billion dirhams, with the launch of 10 projects since the beginning of 2023.
