x Abu Dhabi, UAETuesday 23 January 2018

Aldar focus is a mission to deliver

Aldar's main goal is to deliver existing projects, says Sami Asad, the chief executive of Aldar.

The main focus for the Abu Dhabi developer Aldar Properties is "on delivering our existing projects", the company's chief executive says.

Projects including The Domain luxury apartment tower, Abu Dhabi's tallest building at 382 metres, its Al Raha residential development, Cleveland Clinic, Yas Island and Motor World are all progressing at various stages towards completion, Aldar said in its latest report.

Motor World, an area bringing car dealers, car insurance agents and other automotive industry representatives together, will open its first phase in early October, Aldar said.

This includes 118 pre-owned car showrooms and an Adnoc vehicle inspection and registration centre. The developer said these showrooms were already leased.

"Our immediate focus is on delivering our existing projects," said Sami Asad, the chief executive of Aldar.

Aldar also said it would start handing over retail units at its fashion-focused Emporium Central Market project and offices at its Trust Tower building by the end of this year.

The developer says the Trust Tower, where firms are due to take up residence by next May, has a "ventilated facade", designed to save about Dh6 million (US$1.63m) in energy bills each year.

Aldar last year posted a loss of Dh12.65 billion. But the company made a net profit of Dh189.1m in the first quarter of this year.