Abu Dhabi Property Giant Bets on Cheaper Homes, Private Credit

For the last two decades, Abu Dhabi’s largest developer has focused largely on building upscale homes. But flush with cash after a lengthy boom, Aldar Properties PJSC is now setting its sights on affordable housing, lower cost schools and even a private credit fund.

Aldar — which is majority controlled by prominent Abu Dhabi entities — is adding homes at a wide range of prices from 500,000 dirhams to 3 millions dirhams ($136,000-$816,000) as it attempts to cater to different income groups, Chief Executive Talal Al Dhiyebi said in an interview. It’s also aiming to develop a rental portfolio of shared and single accommodations for people earning 5,000 to 20,000 dirhams.