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Aldar, Sorouh see merger closing by June 30Abu Dhabi property firms Aldar Properties and Sorouh Real Estate said the two companies expect to close their state-backed merger by June 30, pending a ministerial resolution approving the deal. More… |
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Aldar, Sorouh eye state-backed mergerAbu Dhabi developer Aldar Properties, which has twice been rescued by the Abu Dhabi government with bailouts totalling $10 billion, may merge with local rival Sorouh Real Estate in a state-backed tie-up, the two firms said on Sunday. Any m More… |
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Aldar bonds rise over 30 pointsYields on Abu Dhabi property developer Aldar Properties's 2014 bond rose over 30 basis points on Tuesday, a day after Reuters reported the emirate held talks to offload the government's stake in the struggling firm. More… |
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Abu Dhabi 'tried to get Aldar off Mubadala books'Abu Dhabi has held talks to offload all or part of a 49 percent government stake in struggling Aldar Properties in an attempt to stop its falling asset value from dragging down state investment fund Mubadala, a report said. More… |
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Aldar swings to Q1 profit on asset salesAldar Properties, the struggling developer rescued by a $5.2 billion bailout by Abu Dhabi last quarter, returned to profit, after it booked sales of assets, including the Ferrari World theme park. The builder of the Yas Marina Formula One More… |
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UAE developer Aldar to return to profit in 2011Indebted developer Aldar Properties does not foresee any further impairments on its property portfolio in the near future, and will return to profit in 2011, the company's top official said on Sunday. Sami Asad, Aldar's chief execu More… |
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Aldar gets approval for $762m bondAbu Dhabi's Aldar Properties said it secured shareholder approval to place its planned issue of convertible bond worth Dh2.8 billion ($762.3 million) with state-owned investment fund Mubadala. The indebted developer was rescued by a $5.2 b More… |
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Aldar plunges to fresh five-year lowAldar Properties, which has made a loss for four straight quarters, plunged to a new five-year low in Dubai trading. Aldar dropped 4.2 per cent to Dh1.82, its lowest finish since at least April 2005. The slumping real estate prices we More… |
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Moody's places Aldar's ratings on reviewMoody's has changed the direction of the ongoing review of the ratings of Aldar Properties to direction uncertain, having previously had the ratings on review for possible downgrade. The affected ratings are Aldar's Ba3 Corporate F More… |
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Abu Dhabi move to boost Aldar PropertiesAbu Dhabi bank deposits jumped this quarter, with most of the new cash coming from Abu Dhabi's government, prompting speculation that it may be creating a rescue fund for struggling developer Aldar Properties. Bankers and analysts said More… |
