The annual list of the Middle East’s Top 60 most prominent contractors, real estate developers, consultants, facilities management companies features more than 11 new entries from across the region, putting in the spotlight the current improving outlook of the sector. These new entries have altered the entire corporate dynamics of the Power Hour 2019.
28. Talal Al Dhiyebi, CEO of Aldar Properties
Aldar Properties PJSC (“Aldar”), Abu Dhabi’s leading property development, management and Investment Company, has reported a 20% year-on-year increase in revenue to AED1.76 billion in the first quarter of 2019.
Talal Al Dhiyebi, Chief Executive Officer, Aldar Properties commented in a press statement: “2019 is off to a great start. Our strong sales reinforce Abu Dhabi’s favourable supply and demand dynamics as seen with Alreeman and Lea. Our high-quality asset management portfolio is well balanced and showing the benefits of its strategic diversification. Our strategy is optimised to take advantage of the opportunities stemming from pro-growth government initiatives.”
Recent Government reforms, including the introduction of freehold title for foreign buyers within investment zones in Abu Dhabi, are enhancing the long-term attractiveness of real estate sector. In addition, the Abu Dhabi Government’s fiscal stimulus programme – Ghadan 21, and new measures to encourage business growth, are already starting to spur the economy and will increase the allure of the Emirate as a place in which to live, work and invest.