Abu Dhabi – Mubasher: Aldar Properties PJSC said in a bourse filing Wednesday it registered exceptional performance in managed residential portfolio.
Out of 4,732 residential units, 4,669 are currently leased representing a 98.7% occupancy rate, the property developer said, adding that the demand is being driven by a continued flight to quality as well as a desire for destination living within Abu Dhabi.
In order to support the ongoing performance of its residential portfolio, Aldar is embarking on a series of community enhancements. Such enhancements include additional car parking, prayer rooms, CCTV, children’s play areas and the replacement of light fixtures with more energy efficient LED systems. Demonstrating Aldar's commitment to working closely with its communities, much of this activity is being undertaken in response to demand from property owners and residents.
Commenting on Aldar's managed residential portfolio, Talal Al Dhiyebi, Chief Development Officer at Aldar said, “High occupancy levels across the portfolio ensure that we generate strong recurring revenues. Demand for quality homes is strong in Abu Dhabi and we are building a reputation for developing highly desirable communities that people want to call home. We are committed to providing a high quality of life for our tenants, as evidenced by our programme of enhancements.”
Aldar’s leased residential portfolios registered net operating profit of AED 370.6 million, a rise of 56.4% year-on-year from AED 133.7 million during 2014.
