Aldar Properties, the largest real estate development company in Abu Dhabi, plans to start implementing projects in Dubai during 2023 through a partnership with Dubai Holding, Invest-Gate reports.
Greg Fewer, the Chief Financial and Sustainability Officer at Aldar Properties, says that the logistics and commercial offices look very attractive in Dubai and these are areas you might expect us to invest in in the next 12 to 24 months.
Dubai is a very important market for us, and we expect to see a lot of growth in it, he says, adding that the company expects revenues of more than AED 20 bn from the development projects it has acquired in Dubai.
In a stunning turnaround, Dubai’s real estate market hit a 10-year high for total home sales, and rents soared to unprecedented levels.
Aldar Properties gains a foothold in Egypt after acquiring a majority stake in the Sixth of October Development and Investment Company (SODIC), and it is considering buying a majority stake in Madinet Nasr for Housing.