Aldar sales record fails to lift Abu Dhabi bourse

The Abu Dhabi stock market index ADXGI fell by 0.70 per cent to 4,986.09 points on Sunday, May 18.

Aldar Properties, which entered the MSCI emerging market index last week, plummeted 3.22 per cent to AED3.91. Earlier in the day, Aldar revealed that it has sold all units of its new Al Hadeel residential community in Abu Dhabi, on the first day of the off-plan sales launch.  “The sell-out of Aldar’s first new development to be announced since April 2010 reflects strong demand in Abu Dhabi for lifestyle communities that offer modern facilities and amenities,” reveals the first developer in Abu Dhabi.

The sales event attracted more than 600 people. The apartments and townhouses at the Hadeel development, located in the popular Al Bandar precinct of the Al Raha Beach area of Abu Dhabi, were sold on a first-come-first-served basis.  Mohammed Al Mubarak, deputy CEO at Aldar Properties called the sales event a “huge success”.

Gérard Al-Fil