Aldar Reports $3.45 Billion Loss on Biggest-Ever Impairments
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Aldar Properties PJSC, Abu Dhabi’s biggest developer, reported a full-year loss of 12.7 billion dirhams ($3.45 billion) after setting aside money to cover bad assets.
The loss compares with a profit of 837.4 million dirhams in a year earlier, the company said in an e-mailed statement today. The mean estimate of eight analysts was for a loss of 8.2 billion dirhams, according to data compiled by Bloomberg.