Constructora: Aldar

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Constructora: Aldar

Mensajepor Dalamar » 04 Ago 2012 18:52

Tuesday, January 03, 2012
Aldar Properties Islamic bonds rallied the most in eight months after the developer got AED16.8bn ($4.6bn) from the Abu Dhabi government, alleviating concern about its ability to pay debt

Aldar Properties Islamic bonds rallied the most in eight months after the developer got AED16.8bn ($4.6bn) from the Abu Dhabi government, alleviating concern about its ability to pay debt.

The price of the floating-rate sukuk maturing in June 2013 rose 0.8 percent last week, the most since the week ended April 15, to 96.35 cents on the dollar. The yield has fallen about 27 basis points to 6.03 percent Monday since Aldar said Dec 28 that Abu Dhabi will buy homes in a development and retire AED5bn of debt related to infrastructure on Yas Island.

The latest agreement takes the amount of government spending on Aldar, the emirate's biggest real-estate company, to AED36bn. Developers in Abu Dhabi and neighbouring Dubai are struggling to pay off debt after property prices fell more than half since their peak in 2008.

Abu Dhabi, holder of 7 percent of the world?s proven oil reserves, is home to one of the world's largest sovereign wealth funds. Its investment units also include Mubadala Development Co.

"This agreement should go a long way toward mitigating any remaining doubts about the level of commitment that both Mubadala and the government have toward the company," Chavan Bhogaita, head of the markets strategy group at National Bank of Abu Dhabi, said in an emailed response Jan 2. "The issue of external support is frankly no longer up for debate."

The government will buy 760 homes in the Al Raha Beach development, purchase AED5.7bn of assets in Central Market, a project in downtown Abu Dhabi, and finance the completion of the district's redevelopment, Aldar said.

The decision is "credit positive" for Aldar and will reduce unease about debt maturing in 2012, Moody's Investors Service said in a note to investors on Dec 29. The developer's credit profile will benefit from increased certainty about cash flow and less risk from property market volatility, it said.

Aldar has a long-term credit rating of B2 at Moody's, the fifth-lowest non-investment grade ranking. That's 12 levels lower than Abu Dhabi, the richest of the United Arab Emirates' seven sheikhdoms, which is rated Aa2 by Moody's.

The company will receive AED4.5bn in the next two months as part of the agreement and the rest will be paid over four years, Aldar said. The deal will immediately reduce its debt by AED5bn. The company reported a third- quarter profit of AED144m after a loss of AED731m a year earlier.

Aldar agreed last January to sell assets including a Ferrari theme park and convertible bonds to the Abu Dhabi government for AED19.2bn.

Government-owned Tourism Development & Investment Co said on Oct 29 that it would delay the Zayed National Museum's completion as well as the Louvre and Guggenheim branches due to the "magnitude of work."

Aldar's shares, down 60 percent last year, gained 2.2 percent Monday to 94 fils.

The developer said Dec 15 it will convert AED2.1bn worth of bonds issued to Mubadala into shares at 1.75 dirhams each.

"If you believe the Abu Dhabi government will continue to support Aldar, then there is a compelling case that Aldar's sukuk offer good value," Nick Stadtmiller, head of fixed-income research at Emirates NBD, said in a phone interview.

The Aldar agreement shows that ?they are willing to make sure that the institution is liquid and can function, and from that aspect obviously it's positive for the sukuk,? Abdul Kadir Hussain, chief executive officer at Mashreq Capital DIFC, said by phone yesterday.
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Re: Constructora: Aldar

Mensajepor Dalamar » 09 Ago 2012 07:36

Struggling Abu Dhabi property developer Aldar Properties reported a three-fold increase in net profit, buoyed by delivery of 1,058 high-end residential beach units, beating analyst forecasts.

Aldar, currently in merger talks with rival Sorouh Real Estate, made a second quarter net profit of AED417.9m ($113.8m) compared with AED127.3m last year.
The results beat analyst average estimates of AED40.35m.

Revenue for the quarter was AED4.6bn compared with AED775.7m in the prior-year.

The builder of the Yas Marina Formula One Circuit, in which state fund Mubadala has a near-majority position, said revenue was boosted by the handover of 1,058 units on Al Raha beach in the quarter.

Land on Al Raha beach, along with the Ferrari World Theme Park and other key assets, was sold to the government last year as Aldar struggled to manage its liquidity needs. The government handed a rescue fund of $10bn in return, equivalent to the amount Abu Dhabi deployed to rescue Dubai from a bond default in 2009.
Aldar said it is yet to receive AED12bn for three main asset sale agreements with the government made between 2009 and 2011. This includes AED3.6bn of revenue relating to land sales at Al Raha Beach.

"These contracted sales provide the foundation for Aldar's strong ongoing revenue and cash flow visibility over the coming quarters," the statement said.
The indebted developer announced earlier this year that it may merge with Sorouh in a state-backed tie-up that could create a company worth about $15bn in assets. Aldar said due diligence was under way but no further details were provided.

Abu Dhabi's property market is facing challenges as a huge supply of high-end homes are expected to enter the market this year. Property prices in the emirate are expected to fall another 5 percent in 2012, a Reuters poll showed.

It secured a AED4bn credit facility from National Bank of Abu Dhabi in April.

Shares of Aldar ended 0.8 percent on the Dubai bourse before the announcement of the earnings. The stock has climbed 32.6 percent this year.
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Re: Constructora: Aldar

Mensajepor Dalamar » 09 Ago 2012 07:48

Quien tiene acciones?

Symbol: ALDAR
Company Name: ALDAR Properties
Allow Foreign Ownership: Yes
% Allowed For GCC: 40 %
% Allowed For Foreigners: 40 %
Minumum % For Nationals: 60 %
GCC: 1.88 %
Arabs (Exc. GCC): 3.02 %
Others: 6.64 %
Total Foreigners: 11.54 %
Proprietorship Ratio-Nationals: 88.46 %
Outstanding Number of Shares: 4,085,129,096
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Re: Constructora: Aldar

Mensajepor Dalamar » 30 Ago 2012 12:44

Aldar Properties has said that all 43 rides at its Yas Waterworld project have now been installed ahead of the attraction's opening in the fourth quarter of this year.

The company also said that its 59-storey office tower at World Trade Centre Abu Dhabi is "very close" to completion.

An 88-storey residential building on the same site is almost finished externally, but internal finishes to its 474 apartments are ongoing.

Meanwhile, the Mall at World Trade Centre is also in finishing stages, whith testing of its MEP systems currently being undertaken and the House of Fraser anchor store and an eight-screen Grand Cinema at fit-out stage. The 10,000 sqm mall is set to contain around 180 boutique stores and will open its doors at the start of 2013.

The sprawling Yas Mall remains on track to complete by the fourth quarter of 2013 - two years behind its initial proposed opening date. Once complete, Yas Mall will contain Abu Dhabi's first Geant hypermarket, a 14-screen digital Cineplex outlet and over 450 retail units.

Aldar said piling work for the 235,000 sqm complex of buildings has been complete, with pile caps for its 10,000-space covered car park and department store now in place. Casting of the lower ground slab for the main mall is now almost half-finished.

Aldar CEO Sami Asad also said that the second phase of its Al Falah development containing thousands of villas for UAE nationals "is currently being handed over".

In total, the scheme contains 4,857 villas. Over 1,000 were handed over in the first quarter of 2012, and 1,079 units in the second phase are being delivered throughout July and August.

Source: http://www.arabianbusiness.com/abu-dhab ... 71340.html
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Re: Constructora: Aldar

Mensajepor Dalamar » 22 Ene 2013 05:10

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Re: Constructora: Aldar

Mensajepor Dalamar » 22 Ene 2013 11:51

Aldar extends losses since merger approval: Shares in Abu Dhabi's Aldar drop 6.1 percent to two-week low, following Sorouh deal
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Re: Constructora: Aldar

Mensajepor Dalamar » 04 Feb 2013 11:24

Abu Dhabi’s Aldar sees 2012 profits up 109%: Emirate's largest real estate firm posts US$364.8m on back of increased sales
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Re: Constructora: Aldar

Mensajepor Dalamar » 20 May 2013 04:48

Aldar, Sorouh shares see double-digit rises

Abu Dhabi developers surge in heavy trading ahead of completion of merger plan.
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Re: Constructora: Aldar

Mensajepor Dalamar » 07 Ago 2013 15:37

Aldar profit soars 200% after merger: One-off gain from the merger with Sorouh Real Estate sees Aldar Q2 profit soar to $340m

Cerramos el hilo de Sorouh (value-investing-emiratos-arabes-f74/constructora-sorouh-t392.html#p5069) y seguimos aqui despues de la fusion.

Siempre nos gusto Sorouh y tenemos un gran pellizco con ellos! Ahora se fusiona con la casi-quebrada y nacionalizada Aldar, seguimos en este hilo ya que la empresa resultante se llama Aldar, hay que decir que ambas constructoras hacen mega-construccion de excelente calidad y creemos que Sorouh/Aldar es el Emaar (sobre-dubai-f76/constructora-emaar-dubai-t320-30.html?hilit=Emaar#p5888) de Abu Dhabi, Emaar tambien nos gusta mucho.
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Re: Constructora: Aldar

Mensajepor Dalamar » 07 Nov 2013 10:36

Abu Dhabi's Aldar Properties nearly doubles Q3 profit: State-owned developer was bailed out by the government with an injection of about $10bn in 2011
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