Abu Dhabi – Mubasher: Aldar Properties’ office portfolio of the leased space has reached around 204,000 square metres, most of which is leased to government institutions, Alittihad newspaper reported, citing the company’s CEO Mohamed Al Mubarak.
Government institutions represent 45% of Aldar’s leased office space, while government-related institutions and bodies represent 32%, Al Mubarak told the newspaper, indicating that the total space leased to official authorities is around 77%, whereas companies renting office space make up only 18%.
In April, the Abu Dhabi-based real estate firm launched The Bridges residential project on Al Reem Island, which consists of six residential towers, housing 1,272 residential units.
Aldar last reported a 2.1% decline in profits in the first quarter in 2017 to AED 641 million, compared to AED 654.2 million in Q1-16.
