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Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

UAB net profit up by 50% for H1

Total assets increase by 11 percent.

Aldar Properties profit up 44 percent

The company also saw strong demand from end-users and investors, with overseas and resident expat buyers accounting for 66% (AED 16 billion) of UAE sales. (WAM)
  • Aldar's group sales rose to a record level of AED 5.33 billion ($1.45bn) for H1 2022.
  • Sales surge was driven by strong domestic and international demand for existing inventory.

Aldar Properties Group announced that its net profit rose to AED1.53 billion ($0.42billion) in the first half of 2022, representing a year over year (y-o-y) increase of 44 percent.

The company’s net profits amounted to AED841 million during second quarter of this year, representing a y-o-y increase of 62 percent.

Group sales rose to a record level of AED5.33 billion for H1 2022, driven by strong domestic and international demand for existing inventory, the launch of new properties in the UAE, in addition to strong sales of SODIC company.

Aldar is delivering on its transformational growth strategy with over AED 11 billion announced transactions in H1 2022 across logistics, commercial, retail, and hospitality sectors, as well as geographic expansion.

Furthermore, AED 5 billion of further equity capital to be deployed over the next 12 months.

Landmark US$1.4 billion transaction with Apollo Global Management provides significant firepower to strengthen and accelerate long-term growth.

Acquisition of a 6.2 million square meter land plot on Saadiyat Island bolsters Aldar’s land bank for future development.

Aldar maintains significant ramp-up of the fee-based business with projects backlog of AED 57.6 billion.

Acquisition of Abu Dhabi Global Market (ADGM) office towers for AED 4.3 billion – one of the largest real estate transactions in the UAE.

It is in addition to strong liquidity position with AED 6.0 billion of free cash and AED 4.9 billion of committed undrawn facilities, saw Aldar net profit increase in H1 2022.