“We are in a number of discussions with various parties about expanding our land portfolio,” according to Al Dhiyebi
Aldar Properties is looking to boost its investment in Egypt and the UAE by an additional $1.5 billion in the upcoming months, explained Aldar Properties CEO Talal Al Dhiyebi in a recent TV interview with Bloomberg.
The CEO stated that the company will be intensifying investments over the next 6 to 12 months while emphasizing the great opportunities in Egypt and the UAE, despite the two countries’ central banks’ trend of raising interest rates.
“We are in a number of discussions with various parties about expanding our land portfolio,” according to Al Dhiyebi.
Al Dhiyebi explained that Aldar Properties is seeking to increase its land portfolio in key areas in Egypt, from the northern coast to Cairo, as well as possibly the Red Sea in the future.
Regarding Aldar's acquisition of Madinet Nasr for Housing and Development (MNHD), Al-Dhiyebi replied by stating that MNHD has rejected their proposals submitted by the company until Aldar raises its purchase offer.
Dhiyebi said at the end of July that the company expects continued growth in all sectors and entry into new markets during the coming period.