Aldar Properties PJSC (
Arabic
Arabic (, , or , ) is a Central Semitic languages, Central Semitic language of the Afroasiatic languages, Afroasiatic language family spoken primarily in the Arab world. The International Organization for Standardization (ISO) assigns lang ...
: شركة الدار العقارية ''Sharikah al-Dār al-`Iqāriyyah'') is a
real estate development company owned by the
Abu Dhabi government and with headquarters in
Abu Dhabi
Abu Dhabi is the capital city of the United Arab Emirates. The city is the seat of the Abu Dhabi Central Capital District, the capital city of the Emirate of Abu Dhabi, and the UAE's List of cities in the United Arab Emirates, second-most popu ...
,
United Arab Emirates
The United Arab Emirates (UAE), or simply the Emirates, is a country in West Asia, in the Middle East, at the eastern end of the Arabian Peninsula. It is a Federal monarchy, federal elective monarchy made up of Emirates of the United Arab E ...
. The company's shares are traded on the
Abu Dhabi Securities Exchange. The largest shareholder of Aldar is
Alpha Dhabi, the UAE sovereign wealth fund.
Aldar's projects within the Abu Dhabi Emirate include
Al Raha Beach,
Al Raha Gardens, the Abu Dhabi Central Market (
Souq) and
Al Mamoura, as well as
Yas Island which includes the
Yas Marina Circuit
The Yas Marina Circuit (Arabic: حلبة مرسى ياس) is a 5.281 km (3.281 mi) motorsport circuit situated on Yas Island, Abu Dhabi, United Arab Emirates. The circuit was designed by Hermann Tilke. It has hosted the season-ending Formula One ...
,
Ferrari World and
Yas Hotel Abu Dhabi
Yas or YAS may refer to:
* Yas (slang), an affirmative in English
* Yas (yacht), ''Yas'' (yacht), a superyacht built in 2011 in Abu Dhabi
* Yas (rapper), Iranian rapper
* Y.A.S., a French electronic music duo formed in 2007
* Yas Island, an islan ...
.
Al Fahid Island, owned by Aldar Properties, is being transformed into a world-class destination.
History
Aldar was founded on 12 January 2004. The shares were listed in 2005.
In
Astana
Astana is the capital city of Kazakhstan. With a population of 1,423,726 within the city limits, it is the second-largest in the country after Almaty, which had been the capital until 1997. The city lies on the banks of the Ishim (river), Ishim ...
, Kazakhstan, Aldar was a partner in the develop of the
Palace of Peace and Reconciliation and the
Khan Shatyr Entertainment Center.
The company's credit rating was downgraded to "junk" in 2010. The company received a $5.2 billion bailout by the Abu Dhabi government in 2011. In 2012, Reuters reported on suspicious stock exchange patterns during the announcement of a state-backed merger of Aldar and
Sorouh Real Estate. In 2013 the company merged with Sorouh Real Estate. The combined entity continues to operate under the ''Aldar'' name.
In December 2017, Aldar acquired the International Tower in Abu Dhabi. In March 2018, Aldar announced a ″strategic partnership″ with
Emaar, a leading developer from Dubai. Aldar and
Dubai Holding
Dubai Holding () is Dubai ruler Sheikh Mohammed bin Rashid al-Maktoum's global investment holding company and personal investment portfolio.
Mohamed al-Gergawi built the company's portfolio. Sheikh Ahmed bin Saeed al-Maktoum was appointed ...
have partnered to develop projects in Dubai in 2023.
In 2023 Aldar Properties announced it had acquired United Kingdom property developers London Square in a deal worth £230m (AED 1.07bn).
The deal was finalised in December 2023, making London Square a wholly owned subsidiary of Aldar.
See also
*
Eagle Hills Properties
*
Emaar Developments
*
Union Properties PJSC
References
External links
*
''"Company Overview of Aldar Properties PJSC,"''Bloomberg L.P.
Bloomberg L.P. is an American privately-held financial, software, data, and media company headquartered in Midtown Manhattan, New York City. It was co-founded by Michael Bloomberg in 1981, with Thomas Secunda, Duncan MacMillan, Charles Ze ...
Real estate companies of the United Arab Emirates
Emirati companies established in 2004
Real estate companies established in 2004
Companies based in Abu Dhabi
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