Follow-ups -eshrag News:
RIYADH: Abu Dhabi’s real estate developer Aldar Properties is planning an initial public offering of three of its fully owned business divisions next year, the company’s CEO told Sky News Arabia.
Talal Al Dhiyebi said the company will potentially offer shares in its three core businesses – Aldar Education, Aldar Estates, and Aldar Hospitality and Leisure.
He revealed a long-term plan to invest 10 billion dirhams ($2.7 billion) in various sectors, with a particular focus on Saudi Arabian and Egyptian markets.
Aldar had earlier reported solid financial results during the first quarter of 2022, as the acquisition of Egypt’s SODIC last year gave it a strong boost.
During the last six months, the firm completed 5.5 billion dirhams worth of acquisition deals in Egypt and the UAE, the executive noted.
UAE’s Aldar Properties targets $2bn in sales this year, says CEO
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