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MarketScreener Homepage  >  Equities  >  ABU DHABI SECURITIES MARKET  >  Aldar Properties PJSC    ALDAR   AEA002001013

ALDAR PROPERTIES PJSC

(ALDAR)
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Aldar Properties : Alreeman 2 homes in Abu Dhabi secure $114m in sales

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06/26/2019 | 12:08am EDT

Real estate developer Aldar Properties said that Phase 1 of its $462.8m (AED1.7bn) masterplanned Alreeman 2 community in Abu Dhabi's Alshamkha area had generated sales worth $114.3m (AED420m), with more than 75% of land plots within the Emirati-only project sold.

Alreeman 2 follows the January 2019 launch of Alreeman, which generated $435.5m (AED1.6bn) in sales for Aldar.

Construction on Alreeman 2 will start in end-2019, with handovers starting from end-2021.

Of the customers buying land in Alreeman II, 70% were new to Aldar, and 20% opted to purchase their land plot through a 50-50 payment plan, which Aldar said was aimed at providing an “enhanced customer experience for everyone looking to purchase land or homes”.

Commenting on the development, Aldar’s commercial executive director, Maan Al Awlaqi, said: “The strong response we received on Alreeman 2 is a prime example of customer appetite and a great testament to the strength of Abu Dhabi’s real estate market.

“This launch confirms that there is pent-up demand for affordable, infrastructure enabled land plots in Abu Dhabi, where owners can build their homes to their exact specifications and taste.”

(c) 2019 ITP Business Publishing Ltd. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials (AED)
Sales 2019 6 716 M
EBIT 2019 2 142 M
Net income 2019 1 665 M
Debt 2019 2 625 M
Yield 2019 6,64%
P/E ratio 2019 10,4x
P/E ratio 2020 8,07x
EV / Sales2019 2,94x
EV / Sales2020 2,65x
Capitalization 17 141 M
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Mean consensus BUY
Number of Analysts 10
Average target price 2,55  AED
Last Close Price 2,18  AED
Spread / Highest target 37,6%
Spread / Average Target 17,2%
Spread / Lowest Target -5,50%
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Managers
NameTitle
Talal Al-Dhiyebi Chief Executive Officer
Mohammed Khalifa Al-Mubarak Chairman
Gregory Howard Fewer Chief Financial Officer
Mansour Mohamed Al-Mulla Independent Non-Executive Director
Martin Lee Edelman Non-Executive Director
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