UAE’s Largest Developer on the Prowl for Assets to Boost Income
- Aldar to boost its asset management business, CFO Fewer says
- Developer benefits from less severe downturn in Abu Dhabi
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Aldar Properties PJSC is looking into buying assets that would boost its management units as the largest listed developer in the United Arab Emirates aims to take advantage of strains in the market.
“Times of crisis and dislocation always give rise to opportunities for corporate action or combination,” Chief Financial Officer Greg Fewer said on a conference call Thursday. “When you’re a landlord, the cost of capital is one of your most important attributes. We have the lowest cost of capital.”