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Aldar Sells Yas Island Assets For AED9.14B, Makes No Profit (Zawya)

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DUBAI (Zawya Dow Jones)– Aldar Properties Aldar Properties , Abu Dhabi’s largest developer by market value, Tuesday said it sold some infrastructure and property assets at its flagship Yas Marina development to the Abu Dhabi government for 9.14 billion U.A.E. dirhams ($2.49 billion), but didn’t make a profit from the sale. (read more here…) Related items (AFX...
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(AFX UK Focus) 2010-03-09 06:38 UPDATE 1-Aldar says $2.5 bln assets sale was at book value (Interactive Investor)

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DUBAI, Mar 9 (Reuters) – Abu Dhabi group Aldar Properties said on Tuesday it made no profit on the sale of property assets to the government for 9.1 billion dirhams ($2.5 billion) last year. The emirate’s largest developer by market value said in February it sold certain infrastructure and property assets at its developement...
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Azerbaijani president’s children buy Dubai property (Arabian Business)

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President’s 11-year-old son said to have bought 9 mansions on the Palm Jumeirah. (get the story…) Related items Azerbaijan president’s son, 12, ‘buys £30m worth of luxury Dubai property’ (Daily Telegraph) Dubai Property Chief Believes Prices Near Bottom (ABC News) Getting the timing right (Miami Herald) Dubai World assets at $120bn, report (Stuff) Luxury development planned for Dubai (RTÉ News)
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Sorouh Real Estate to raise Dh4bn debt this year (Zawya)

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Sorouh Real Estate, an ADX-listed property company, may raise debt to the tune of Dh4 billion during the current year. (read more here…) Related items Infrastructure development for Alghadeer project gets underway (Zawya) Sorouh’s alghadeer project moves forward (Zawya) CEO of Dubai developer Deyaar says prices at a ‘bottom phase’ but recovery could take time (Minneapolis-St. Paul Star Tribune) Deyaar...
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Aldar CFO: business as usual after Moody’s cut (Arabian Business)

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Abu Dhabi’s biggest property developer has ‘no plans at this stage” to borrow this year. (read more here…) Related items Faber to expand Abu Dhabi, India ventures (Business Times (Malaysia)) Property stocks pull Dubai, Abu Dhabi down (Arabian Business) Business : Sorouh Readies New Mortgage Package (Khaleej Times) Aldar declares stable nine months 2009 results (Mena Report) Business : Aldar Properties...
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