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venture capital firm Fifth Wall to invest in a fund focused on supporting start-ups in Europe. Through the investment, Aldar plans to tap into Fifth Wall’s network of PropTech start-ups in Europe and gain access to the latest technology and trends that are driving the evolution of the real estate sector”, the developer said on Monday. Aldar is the UAE’s biggest listed developer with a market capitalisation of more than Dh27.75 billion ($7.5bn). The company recently revamped its business and adopted a new operating model with a parent company overseeing its core development and investment businesses. This included the creation of an Aldar Ventures unit. ....
Abu Dhabi's Aldar to spend Dh500m to upgrade Yas Mall thenationalnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenationalnews.com Daily Mail and Mail on Sunday newspapers.
SHARE Aldar Properties, the UAE’s biggest listed developer, is looking to buy a majority stake in Egypt’s Sixth of October for Development and Investment Company (Sodic). The Abu Dhabi-based developer is leading a consortium that submitted a non-binding offer of 18-19 Egyptian pounds per share, valuing Sodic at 6.6 billion Egyptian pounds ($421 million) at its mid-point, it said in a statement to the Abu Dhabi Securities Exchange, where its shares trade. The offer is a 14 per cent premium on last week s closing price. “Aldar believes that its offer represents a compelling liquidity event and value proposition for Sodic’s shareholders, reflecting the company’s robust fundamentals and share price performance over the last 12 months,” the developer said. ....
SHARE Developer Aldar Properties expects its fee-based revenue to increase as it expands its asset management business amid growing profitability. The company manages about Dh2 billion in assets owned by third parties and is “taking on more asset management” projects, chief executive Talal Al Dhiyebi told Bloomberg TV yesterday. Aldar Development, the unit responsible for developing its 7,500-hectare land bank in Abu Dhabi, also reported strong growth. “Our development unit, which is normally more cyclical compared to our asset management [business], right now gives a very strong recurring income,” said Mr Al Dhiyebi. He said cash collection for the developer remained strong. ....