2020 CW Power 100: Aldar's Talal Al Dhiyebi secures 15
Aldar Properties's long list of projects has left the business in a financially healthy position for 2020
It’s been a good year for Aldar Properties CEO Talal Al Dhiyebi whose long list of projects has left the business in a financially healthy position going into 2020.
In terms of projects, Aldar Properties completed the first three towers of The Bridges project on Reem Island and is progressing with construction of the 374-unit Reflection development, which is 25% complete; and Yas Islands Water’s Edge and Alghadeer projects have crossed the 50% milestone.
Aldar Properties also unveiled its $2.2bn (AED8bn) Saadiyat Grove, a 24.2ha mixed-use community located in Abu Dhabi’s Cultural District on Saadiyat Island, with the project being launched by HH Sheikh Khalid bin Mohamed bin Zayed Al Nahyan, Member of the Abu Dhabi Executive Council and Chairman of the Abu Dhabi Executive Office.
These projects left the business recording a 7% spike in 2019 net profit to $539m (AED1.98bn), as the developer posted 53% jump in developments sales to $1.1bn (AED4bn) in the same period.
The cash dividend represented a 4% growth, compared to 2018’s dividend, marking the eighth consecutive year of growth in Aldar’s dividends.
To view the full 2020 Construction Week Power 100 ranking, then click here.