By Ramy Sameeh
Abu Dhabi – Mubasher: UAE’s developer Aldar Properties is not intending to use its available liquidity in repaying outstanding debts, said Chairman Abu Bakr Al Khoori.
Speaking to journalists on the sidelines of the company’s ordinary general meeting held today, the top official added that liquidity would go for financing Aldar’s projects.
Al Khoori estimated the company’s available liquidity at around AED 6 billion.
“A total of AED 5 billion is already available, while the other AED 1 billion is tied to projects with the government,” said the chairman.
According to the top official, Aldar’s debts currently stands at AED 6 billion.
The company’s shareholders endorsed today the distribution of cash dividends for 2015 at 10 fils per share.
Al Khoori expects strong dividend distributions in coming year; however, he declined to give specific figures.
Translated by Sayed Abdel Rahman
