Dubai developers suffer but Abu Dhabi sustains Aldar

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Tue, 2021-02-16 08:53

RIYAHD: Dubai and Abu Dhabi real estate developers have had a mixed year as Emaar real estate announced a 58 percent decline in its profit, while DAMAC Properties suffered losses for the second year in a row, highlighting the problem of excess real estate units in Dubai, exacerbated by the Coronavirus pandemic, according to Asharq Business.

In Abu Dhabi, Aldar outperformed Emaar and DAMAC, sustaining the same profits as last year and benefiting from government contracts.

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