Abu Dhabi s Aldar Properties now has until early September to make offer for Egypt s SODIC gulfnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gulfnews.com Daily Mail and Mail on Sunday newspapers.
Mega deals flow in Abu Dhabi as SpaceX investor IHC buys 45% in construction giant Alpha Dhabi gulfnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gulfnews.com Daily Mail and Mail on Sunday newspapers.
Dubai: Abu Dhabi’s Aldar Properties is raising the ceiling on internal transparency of its operations. It has become the first company in the GCC to adopt European Public Real Estate Association’s (EPRA) best practice for disclosure.
These recommendations encourage companies to provide detailed property-specific metrics, which are followed by global real estate-focused institutional investors. These disclosures are in addition to normal IFRS reporting requirements.
It allows for better like-for-like comparisons over time and between peer groups on key performance measures including adjusted earnings, net asset value, yield, vacancy rate and cost ratios.
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Dubai: Aldar Properties PJSC offered to buy a majority stake in Egypt s Sixth of October for Development & Investment Co. as it looks to expand into Arab world s most populous country.
The offer values the Egyptian property developer, known as Sodic, at about $420 million. Aldar is seeking a minimum 51% stake in Sodic, with an indicative purchase price of 18-19 Egyptian pounds per share.
Aldar, which primarily operates in Abu Dhabi, has been looking to expand abroad as it faces limited growth prospects in the United Arab Emirates. Home prices and rents have dropped for nearly seven years in Abu Dhabi, and the coronavirus pandemic aggravated the situation.