ALDAR INVESTOR DAY 22 APRIL 2018
|
|
- Ruby Summers
- 5 years ago
- Views:
Transcription
1 ALDAR INVESTOR DAY 22 APRIL 2018
2 DISCLAIMER This disclaimer governs the use of this presentation. You must not rely on the information in the presentations and alternatively we recommend you to seek advice from an appropriately qualified professional. If you have any specific questions about any matter in this presentation you should consult an appropriately qualified professional. The statements made in this presentation are only forward thinking statements. Such statements are based on expectations and are subject to a number of risks and uncertainties that could differ materially from any expected outcome or results expressed or implied in these statements. Without prejudice to the generality of the foregoing paragraph, we do not represent, warrant, undertake or guarantee that the information in the presentation is accurate or use of guidance in the presentation will lead to any particular outcome or result. We will not be liable to you in respect of any business losses, including without limitation loss of or damage to profits, income, revenue, use, production, anticipated savings, business, contracts, commercial opportunities reputation or goodwill. 1
3 SPEAKERS TALAL AL DHIYEBI Chief Executive Officer DAVID DUDLEY ED Investments & Partnerships MAAN AL ALWAQI ED Commercial RAMY ZAGHLOUL ED Development JAHED RAHMAN ED Acquisitions & Investment Management GREG FEWER Chief Financial Officer 2
4 AGENDA 9am 9:30am 9:35am 10am 11:40am 12pm 12:30pm 2pm Breakfast Welcome address Abu Dhabi macro update Aldar management presentations Q&A Lunch Depart for optional 1-hour Louvre Abu Dhabi tour (starting at 1245pm) Depart for optional 30-min Warner Bros Abu Dhabi site tour (starting at 230pm) 3
5 REAL ESTATE MARKET OVERVIEW David Dudley Executive Director Investments & Partnerships 4
6 MACRO TRENDS Oil price (USD per barrel) 140 Brent Spot Price Market downturn Market upswing Market downturn Recovery Reaching bottom of the cycle with recovery driven by return of government spending and stabilisation in oil prices Source: US Energy Information Administration & OE forecasts 5
7 RESIDENTIAL MARKET RENTS Residential Supply Residential Rents Residential Supply and Rents F Residential Supply (000's) Residential Rents (000's) Opportunities remain for mid-income housing and upgrading to high quality communities; market recovery in sight Source: JLL 6
8 RESIDENTIAL MARKET SALES Residential Supply Residential Rents Residential Supply and Sales Prices ,450 11,850 15,250 16,000 15,050 13,150 11,800 18,000 16,000 14,000 12, ,000 8,000 6, ,000 2, F Residential Supply (000's) Residential Sales (Price / sqm) - Opportunities remain for mid-income housing and upgrading to high quality communities; market recovery in sight Source: JLL 7
9 OFFICE MARKET Office Supply Grade A and B Rents (AED per sqm) Office Supply & Grade A & B Rents 4,500 2,000 4,000 1,800 3,500 1,600 3,000 2,500 2,000 1,500 1,000 3,416 3,610 3,611 3,743 3,954 4,133 4,133 1,400 1,200 1, F - Office Supply (000s) Grade A Rents (AED per sqm) Grade B Rents (AED per sqm) Prime office sector remains stable; opportunities for niche offerings and build to suit Source: JLL 8
10 RETAIL MARKET Retail Supply F (000s sqm GLA) 2,662 1,993 2,156 2,493 2,511 2,482 2, F Retail supply continues to increase; selective opportunities remain Source: JLL 9
11 HOSPITALITY MARKET Hospitality Supply (000s keys) Passenger Arrivals Hotel Supply & Passenger Arrivals ( ) Hospitality Supply (000s) Passenger Arrivals (000s) Opportunities for 3-4 star hotels and serviced apartment product in established locations - Source: JLL& Abu Dhabi Airports Company 10
12 DELIVERING DESIRABLE DESTINATIONS Talal Al Dhiyebi Chief Executive Officer 11
13 OBJECTIVES FOR TODAY o Aldar today o Review recent announcements o New disclosures o New operating model and corporate structure o Shareholder returns 12
14 ALDAR AT A GLANCE o Master developer across key investment zone locations in Abu Dhabi o Significant land bank and approved GFA in place o Large and diverse asset management portfolio o Committed to shareholder returns o Primed for growth today 13
15 OUR STRATEGY Create long-term shareholder value Our vision: delivering desirable destinations Development Asset Management Monetise land bank Dominant market position Create leading destinations Grow a large and diverse portfolio Be recognised as landlord of choice Proactively recycle capital 14
16 2018 SO FAR New operating model Strategic partnership with Emaar Diversification outside of Abu Dhabi 2 development launches 15
17 DEVELOPMENT SALES INSIGHTS Maan Al Awlaqi Executive Director Commercial 16
18 SALES DEMOGRAPHICS 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Al Hadeel Ansam Meera Mayan Yas Acres The Bridges Water's Edge UAE GCC Arab Western Asia Other 17
19 RECENT SALES INSIGHTS Strong broker penetration Opening up new market sub-segments Strong new buyer penetration UAE remains top buyer Ticket price key 18
20 UNIQUE REAL ESTATE OPPORTUNITY o One of the few remaining AA-rated economies o Stability of the UAE o Real estate law in place o Low international penetration o Unique supply-demand drivers o Strategic partnership synergies 19
21 STRATEGIC PAFRTNERSHIP Ramy Zaghloul Executive Director Development 20
22 JOINT VENTURE RATIONALE Accelerate growth of development business Diversification outside of Abu Dhabi Entry into the Dubai market with best possible partner Create a regional champion Access opportunities beyond UAE 21
23 SAADIYAT GROVE Particulars Detail Location Saadiyat Island Type Mixed-use GDV AED 8 billion Units 2,000 Retail GLA 130,000 sqm Hotels 4 (4-star and 5-star) 22
24 EMAAR BEACHFRONT Particulars Detail Location Between Palm Jumeirah and JBR Type Residential GDV AED 17 billion Units 7,000 Hotels 1 (5-star) 23
25 PARTNERSHIP ARRANGEMENTS o MOU signed in March 2018 o Finalising JV structure and governance o AED 25 billion GDV across first two development projects o Focus on national and international opportunities o See interesting opportunities within the region 24
26 DEVELOPMENT UPDATE Talal Al Dhiyebi Chief Executive Officer 25
27 DEVELOPMENT STRATEGY Accelerate development pipeline Add diversification in a key global real estate market Expansion beyond traditional destinations Open new segments within Abu Dhabi residential market 26
28 DEVELOPMENT OVERVIEW Property Development Development Management Significant land bank and approved GFA in place Strategic partnership with Emaar Strategic partner of Government of Abu Dhabi Destination development Explore opportunities beyond traditional market Public-Private Partnerships (PPPs) Opportunistic land sales Dominant market position Fee-based development management 27
29 ABU DHABI MAP Seih Sdeirah Saadiyat Island Yas Island Lulu Island Reem Island Al Raha Beach 28
30 DESTINATION YAS ISLAND Yas Acres Land bank 5,000 residential units under development twofour54 media and entertainment free-zone West Yas Warner Bros Abu Dhabi opening in July 2018 Yas Waterworld Ansam Yas Mall Water s Edge New Midfield Terminal Ferrari World Yas Links SeaWorld Abu Dhabi Yas Plaza hotels Yas Beach Mayan Yas Marina Yas Marina Circuit Yas Bay district twofour54 Yas Bay 29
31 ALGHADEER o Alghadeer master plan launched at CityScape Abu Dhabi 2018 o AED 10 billion GDV across 15 year development horizon o Located within Seih Sdeirah land bank 30
32 DEVELOPMENT PIPELINE EXPECTED COMPLETION: 2018 Nareel Island Type: Exclusive land plots for villa development Land: Non-investment zone Location: Nareel Island, off Abu Dhabi Island Units launched: 148 Sold as at 31 Dec 2017: 59% COMPLETED Ansam Type: Prime residential apartments Land: Investment zone Location: Yas Island Units launched: 547 Sold as at 31 Dec 2017: 93% COMPLETED Al Hadeel Type: Prime residential apartments Land: Investment zone Location: Al Raha Beach Units launched: 233 EXPECTED COMPLETION: 2018 Al Merief Type: Land plots for villa development Land: Non-investment zone Location: Khalifa City Units launched: 281 Sold as at 31 Dec 2017: 100% Sold as at 31 Dec 2017: 93% 31
33 EXPECTED COMPLETION: 2018 Meera Type: Residential apartments Land: Investment zone Location: Reem Island Units launched: 408 Sold as at 31 Dec 2017: 91% EXPECTED COMPLETION: 2019 Mayan Type: Prime residential apartments Land: Investment zone Location: Yas Island Units launched: 512 Sold as at 31 Dec 2017: 81% EXPECTED COMPLETION: 2018 West Yas Type: Villa development Land: Investment zone Location: Yas Island Units launched: 1,017 Sold as at 31 Dec 2017: 71% EXPECTED COMPLETION: 2019 Yas Acres Type: Villa and townhouse development Land: Investment zone Location: Yas Island Units launched: 652 Sold as at 31 Dec 2017: 66% 32
34 EXPECTED COMPLETION: 2020 The Bridges Type: Mid-market residential apartments Land: Investment zone Location: Reem Island Units launched: 636 Sold as at 31 Dec 2017: 93% EXPECTED COMPLETION: 2021 Reflection Type: Mid-marker residential apartments Land: Investment zone Location: Reem Island Units launched: 340 Sold as at 31 Dec 2017: n/a EXPECTED COMPLETION: 2020 Water s Edge Type: Mid-market residential apartments Land: Investment zone Location: Yas Island Units launched: 1,236 EXPECTED COMPLETION: 2021 Alghadeer Type: Affordable residential Land: Investment zone Location: Seih Sdeirah Units launched: 611 Sold as at 31 Dec 2017: n/a Sold as at 31 Dec 2017: 79% 33
35 DEVELOPMENT SUMMARY o Remain market leader for off-plan developments in Abu Dhabi o Emaar JV to boost development pipeline and add diversification o Opening up new destinations across land bank o Expanding product offering through Alghadeer o Current guidance under upward review 34
36 ASSET MANAGEMENT UPDATE Jahed Rahman ED Acquisitions & Investment Management 35
37 ASSET MANAGEMENT STRATEGY Diverse and high-quality portfolio Drive value and recycle capital Investment plan in place to grow NOI Abu Dhabi AA-rated with 8% cap rates 36
38 ASSET MANAGEMENT OVERVIEW Retail Residential Commercial Hospitality Adjacent & other sqm GLA 430,000 units 4,800 sqm GLA 307,000 Hotel keys 2,500 Aldar Academies, Khidmah, OVs, other Book value (31 Dec 2017) Book value (31 Dec 2017) Book value (31 Dec 2017) Book value (31 Dec 2017) Book value (31 Dec 2017) AED 6.9 billion AED 4.9 billion AED 3.3 billion AED 2.1 billion AED 0.6 billion 2017 NOI 2017 NOI 2017 NOI 2017 NOI 2017 NOI AED 0.5 billion AED 0.5 billion AED 0.4 billion AED 0.1 billion AED 0.1 billion 37
39 RETAIL PORTFOLIO o Existing 430,000 sqm GLA unit strong retail portfolio o Focused around destination and community retail o Near-term value and growth drivers Retail split by type (sqm GLA) 17% o Yas Mall retail mix optimisation o Building out a stronger community retail portfolio o Al Jimi Mall extension 27% 56% Destination Community Other 38
40 YAS MALL UPDATE o Largest retail asset in Abu Dhabi Footfall growth (millions of visitors) o Steady growth in footfall over last 3 years o Trading occupancy maintained at 94% during 2017 o Major 3-year renewals process complete o Near-term value and growth drivers Current Yas Mall split (sqm GLA) o Retail mix o Unit sizing 19% 5% o Destination Yas Island 8% 46% 22% Anchors Large space users Other Major space users Line shops 39
41 RESIDENTIAL PORTFOLIO o 4,800 unit strong residential portfolio o Diverse mix of units and locations across Abu Dhabi o Flight to quality remains true o Strong occupancy performance o Near-term value and growth drivers o Improvements to community facilities Residential split by type 64% 36% o Strong community retail offering o Building out bulk leasing component Bulk Individual 40
42 COMMERCIAL PORTFOLIO o Commercial portfolio consolidates office and commercial assets o 307,000 sqm NLA now including o International Tower o NLA Repton School o Incorporation of Motor World and The Wing from retail portfolio o Near-term value and growth drivers o Immediate contribution of recent additions o Asset optimisation 41
43 HOSPITALITY PORTFOLIO o 2,500 hotel key portfolio o Solid occupancy performance 78% during 2017 o 2017 ADRs under pressure down 11% to AED 390 o Outperforming wider Abu Dhabi market o Near-term value and growth drivers o Abu Dhabi tourism story continuing to strengthen Hotel split by location (keys) 10% 90% o Well positioned across key segments o Cost cutting measures starting to come into effect Yas Island Other 42
44 ADJACENT PORTFOLIO o Key adjacent portfolio assets o Aldar Academies o Khidmah property and facilities management o Operative Villages o Proactive strategy to look for value accretive opportunities o Near-term value and growth drivers o Aldar Academies capacity roll out o Adjacent business expansion opportunities 43
45 COMMITTED TO GROWTH o Committed to growth of asset management business o AED 5 billion investment growth plan in place o AED 2.9 billion assets in place or under development today o AED 1.2 billion committed projects at design stage o Continue to assess acquisition opportunities o Maintain diverse asset portfolio across key sectors 44
46 INTERNATIONAL TOWER o Acquired in December 2017 with 68% occupancy o Proactive strategy to renew and extend leases o Cost saving initiatives underway o Strong international tenant base advantage o Negotiating new leases on c.15% vacant GLA 45
47 INVESTMENT PLAN COMPLETED IN Q Repton School Type: Commercial Location: Abu Dhabi Island GLA: 20,000 sqm ACQUIRED IN Q Daman House Type: Commercial office building Location: Abu Dhabi Island GLA: 23,000 sqm ACQUIRED IN Q International Tower Type: Commercial office building Location: Abu Dhabi Island GLA: 39,000 sqm COMPLETED IN Q Al Mamoura School Type: Aldar Academies school Location: Abu Dhabi Island Capacity: 1,800 student 46
48 EXPECTED COMPLETION: 2020 Water s Edge Type: Residential Location: Yas Island Units: c.800 DESIGN STAGE Shams Marina Type: Mixed-use Location: Reem Island Overview: Hotel, long-stay apartments and residential EXPECTED COMPLETION: Q Al Jimi Mall extension Type: Retail extension to existing mall Location: Al Ain GLA: 33,000 sqm DESIGN STAGE Yas Mall Hotel Type: Hospitality Location: Yas Island Keys: 349 EXPECTED COMPLETION: 2020 The Bridges Type: Residential Location: Reem Island Units: 636 DESIGN STAGE Yas retail park Type: Retail Location: Yas Island GLA: c.10,000 sqm 47
49 SUMMARY o Proactive asset management growth strategy in place o See opportunities to recycle capital o Investment plan to drive near-term NOI growth o Assessing acquisition opportunities o Expansion options for adjacent business portfolio 48
50 UNLOCKING VALUE Greg Fewer Chief Financial Officer 49
51 CAPITAL ALLOCATION Uses Sources Internal External Development net realised profit on handover after dividend Asset management net free cash flow after dividend Debt debt policy in place Equity Development investments 12% WACC Asset management investment plan 8% WACC Shareholder returns dividend policy in place 50
52 CLEAR DIVIDEND POLICY INPLACE Asset Management business Development Management business Pay-out factor Distributable free cash flow Realised profit Policy Range 65-80% 20-40% Net operating income Upon completion and handover Less: + of developments Methodology/ key drivers Interest expense Maintenance capex Overheads 51
53 SHAREHOLDER RETURNS Dividend paid (fils/ share) o Significant dividend growth over last 5 years o Introduction of formal dividend policy from 2016 o First development dividend component paid as part of 2017 dividend o Upcoming development handovers provides dividend upside 52
54 NEW CORPORATE STRUCTURE o New structure to prepare development and asset management to operate independently o Separate debt and dividend policies in place o Designed to drive greater operational and capital efficiency o Prepare Aldar for this new phase of accelerated growth, in line with its strategy Aldar Properties PJSC Development Management Asset Management Debt policy Dividend policy Up to 25% LTV (31 Dec 17: 3%) 20-40% realised profit 35-40% LTV (31 Dec 17: 33%) 65-80% distributable FCF 53
55 CLOSING REMARKS Talal Al Dhiyebi Chief Executive Officer 54
56 IN SUMMARY New operating model and corporate structure Accelerating development pipeline Asset management strategy to drive growth Focus on shareholder returns Primed for growth 55
57 APPENDIX 56
58 DEVELOPMENT SUMMARY Project Location Recognition Launch Total as at 31 Dec 2017 * Expected date Sold Sold unit sales Units % sold Revenue Revenue Revenue completion units ¹ value (AEDm) launched ¹ recognition % recognisedbacklog Ansam Yas Island Over-time % 99% 846 Completed 6 in Q Hadeel Al Raha Beach Over-time % 99% 428 Completed 3 in Q Nareel Abu Dhabi Island Over-time , % 84% Merief Khalifa City Over-time % 60% Meera Shams Abu Dhabi Over-time % 68% Mayan Yas Island Over-time % 21% Yas Acres Yas Island Over-time , % 10% 158 1, The Bridges Shams Abu Dhabi Over-time % 22% Water's Edge Yas Island Over-time ,236 79% 0% Reflection Reem Island Over-time 2018 n/a n/a 340 n/a n/a n/a n/a 2021 Al Ghadeer Seih Sdeirah Over-time 2018 n/a n/a 611 n/a n/a n/a n/a 2021 Aldar developments 3,879 7,362 5,604 83%² 45% 3,335 4,026 West Yas Yas Island n/a ,222 1,017 71% 2018 Total developments 4,597 10,584 6,621 81%² ¹ Sold units and sold units sales value includes all units where a sales purchase agreement ( contract ) has been signed. This does not include sales reservations and pending sales contracts. Total units and values as at period end are net of cancellations. ² Sold as at 31 December 2017
59 FINANCIAL STATEMENTS Profit and loss AED millions 2017 FY 2016 FY Revenues 6,180 6,237 Direct costs (3,525) (3,598) Gross profit 2,655 2,639 Gross profit Margin 43% 42% SG&A expenses (407) (404) Depreciation and Amortization (186) (199) Gain on disposals 4 14 Share of profit from associates/ JVs Other Income Finance expense (254) (241) Finance income Fair value gains/ (losses), provision/ reversal for impairments (613) (198) Net Profit for the period 2,006 2,752 Attributable to: Owners of the Company 1,996 2,782 Non-controlling interests 10 (30) Profit for the period 2,006 2,752 Basic and diluted earnings per share (fils) AED millions Balance sheet As at 31 Dec 2017 As at 31 Dec 2016 Property, plant and equipment 2,931 2,986 Investment properties 16,077 15,773 Development work in progress 1,477 1,298 Inventory 2,593 2,449 Receivables 5,353 5,263 Cash 6,885 6,696 Other Assets 1,082 1,096 Total Assets 36,397 35,561 Equity 23,235 22,086 Debt 5,956 5,564 Payables, Advances and Other Liabilities 7,206 7,911 Total Liabilities and Equity 36,397 35,561 58
60 SEGMENTAL ANALYSIS AED Millions AED Millions 2017 FY recurring revenues of AED 2,851 million (2016 FY: AED 2,945 million) ¹ 1,723 1, FY Segmental Revenue Performance 1,674 1,371 2,387 2, Investment Properties Hospitality & Leisure Adjacent Businesses Development Management Property Development 2017 FY 2016 FY 2017 FY recurring revenues gross profit of AED 1,557 million (2016 FY: AED 1,584 million) ¹ 1,4001, FY Segmental Gross Profit Performance 1, (54) Investment Properties Hospitality & Leisure Adjacent Businesses Development 2017 FY 2016 FY Management Property Development ¹ Recurring revenues assets include Investment Properties, Hospitality & Leisure, Schools (Aldar Academies) and Property & Facilities Management (Khidmah) 2017 FY recurring revenues excludes Pivot revenue of AED1,052m (2016 FY revenue: AED785m) 2017 FY recurring revenue gross profit excludes Pivot gross profit of AED4m (2016 FY gross loss: AED107m) NB: Prior results segmental analysis included a separate Operative Villages segment, this now forms part of Investment Properties
61 GOVERNMENT RECEIVABLES Remaining cash inflows Remaining P&L events Transaction (AEDm) Total Other income Sale of Al Raha Beach Land ¹ Infrastructure recoverables ² ³ ,094-1, ¹ Al Raha Beach land plot handed over in Q with a payment plan structure ² Cash flow timing depends on handover of related assets ³ Additional infrastructure reimbursement submissions made to Government of Abu Dhabi, subject to approval
PRESENTATION RESULTS Q Aldar Q Results
Q1 2018 RESULTS PRESENTATION DISCLAIMER This disclaimer governs the use of this presentation. You must not rely on the information in the presentations and alternatively we recommend you to seek advice
More information26 February 2013 FIRST HALF RESULTS PRESENTATION
26 February 2013 FIRST HALF RESULTS PRESENTATION Investment highlights Proven track record of consistent earnings growth and meeting targets Strategically located and diverse residential portfolio Urban
More informationProperty. Mashreq. Economic Overview. Wealth Gauge. Exceptional. Individual.
Exceptional. Individual. Volume 14 October Economic Overview United Arab Emirates has continued to benefit its safe-heaven status. The economic recovery has been strong which is well supported by tourism,
More informationNational Real Estate Company. Earnings Presentation Q1 FY2014
National Real Estate Company (Kuwait KSE: NRE) Earnings Presentation Q1 FY2014 May 28, 2014 1 Agenda 1. NREC Overview 3 2. Q1 FY2014 Summary 4 3. Financial Performance 5 4. Key Financial Ratios 7 5. Quarterly
More informationProperty. Mashreq. Economic Overview. Wealth Gauge.
Economic Overview United Arab Emirates has continued to benefit from surging confidence, safeheaven status, rising population and stable world class real estate market opportunities. The macroeconomic
More informationReport Highlights. Residential Market Q Snapshot -4% -1% Valuations Mortgage and Secured Lending Portfolio Valuations
OBSERVER Abu Dhabi Market Report Q2 / 218 Services Report Highlights Valuations Mortgage and Secured Lending Portfolio Valuations The ongoing decline of both sales and rents in Abu Dhabi can be attributed
More informationQ Abu Dhabi Real Estate Market Overview
Abu Dhabi Real Estate Market Overview Abu Dhabi Market Summary The first quarter of 2015 recorded further growth in the residential rental and hospitality sectors while the residential sales, retail and
More informationAbu Dhabi Real Estate Market Overview Q3_2017
Abu Dhabi Real Estate Market Overview Q3_2017 Toll Free: 800 1 44 44 For Sale: 050-9138969 For Rent: 050-5461078 List your property with us: info@nwmea.com I www.nwmea.com The quarter three market report
More informationXC-ALDAR-MEERA-BROCHURE-V8-AW.indd 1
XC-ALDAR-MEERA-BROCHURE-V8-AW.indd 1 ABU DHABI 2030 A Visionary City Plan Abu Dhabi 2030 sets out the developmental steps that will propel Abu Dhabi forward to become the most desirable place to live and
More informationAbu Dhabi Real Estate Market Overview Q Abu Dhabi
Abu Dhabi Real Estate Market Overview Q3 2017 Abu Dhabi 2 Abu Dhabi Real Estate Market Overview Q3 2017 Abu Dhabi Market Summary Q3 saw a further decline in residential and hospitality performance due
More informationAbu Dhabi Real Estate Market Overview Q1_2017
Abu Dhabi Real Estate Market Overview Q1_2017 Toll Free: 800 1 44 44 For Sale: 050-9138969 For Rent: 050-5461078 List your property with us: info@nwmea.com I www.nwmea.com The quarter one market report
More informationSUNTEC REIT FINANCIAL RESULTS. For the 2 nd Quarter and Half Year ended 30 June 2017
SUNTEC REIT FINANCIAL RESULTS For the 2 nd Quarter and Half Year ended 30 June 2017 26 July 2017 Agenda 03 2Q 17 Highlights 05 Financial Highlights 18 Office Portfolio Performance 25 Retail Portfolio Performance
More informationAchieved record annual revenues of $110.0 million for 2018, representing an increase of 5.8%
Clipper Realty Inc. Announces Fourth Quarter and Full-Year 2018 Results Reports Record Annual Revenues, Record Annual Income from Operations and Record Quarterly and Annual Adjusted Funds from Operations
More informationFront Yard Residential Corporation Reports Third Quarter 2018 Results
Front Yard Residential Corporation Reports Third Quarter 2018 Results November 7, 2018 CHRISTIANSTED, U.S. Virgin Islands, Nov. 07, 2018 (GLOBE NEWSWIRE) -- Front Yard Residential Corporation ( Front Yard
More informationINVESTOR PRESENTATION MAY 2013
INVESTOR PRESENTATION MAY 2013 Forward-Looking Statements This presentation includes forward-looking statements. These statements are subject to a number of risks, uncertainties and other factors that
More informationReport on 2018 Second Quarter Operating and Financial Results
Report on 2018 Second Quarter Operating and Financial Results Forward-Looking Statements This press release includes "forward-looking statements." These statements are subject to a number of risks, uncertainties
More informationLocal and foreign investments drive real estate sector in Abu Dhabi
GDP from construction rose by 3.3% and real estate activities by 8.1% in 2016 Local and foreign investments drive real estate sector in Abu Dhabi Production value from construction and real estate activities
More informationClipper Realty Inc. Announces Third Quarter 2018 Results Reports Record Revenues, Income From Operations and Adjusted Funds From Operations
Clipper Realty Inc. Announces Third Quarter 2018 Results Reports Record Revenues, Income From Operations and Adjusted Funds From Operations NEW YORK, November 1, 2018 /Business Wire/ -- Clipper Realty
More informationQ Dubai Real Estate Market Overview
Q2 2015 Dubai Real Estate Market Overview Dubai Market Summary Dubai s real estate market saw little change in the second quarter, with the slowdown in performance across all asset classes continuing,
More informationFourth Quarter & Full Year 2013 Operating & Financial Results February 20, 2014
Fourth Quarter & Full Year 2013 Operating & Financial Results February 20, 2014 DISCLOSURE Statements in this presentation that are not historical facts are forward-looking statements, within the meaning
More informationOman Real Estate Conference th May 2015
Oman Real Estate Conference 2015 11 th May 2015 1 Contents 1. Global Real Estate Overview 2. MENA Real Estate Overview 3. Oman s Market Overview 4. Market 5. Market 6. Hospitality Market 7. Market Global
More informationINVESTOR PRESENTATION. September 2011
INVESTOR PRESENTATION September 2011 Disclaimer This document does not constitute or form part of and should not be construed as, an offer to sell or issue or the solicitation of an offer to buy or acquire
More informationInvestor Presentation. First Quarter 2015
Investor Presentation First Quarter 2015 1 CAUTIONARY STATEMENTS Today s session and our answers to questions contain statements that constitute forward-looking statements about expected future events
More informationAffordability 4 Years On
Affordability 4 Years On Measuring Affordability Levels in Abu Dhabi UAE 2018 Affordability 4 Years On 2018 Colliers International 1 Definition of Affordable Housing: The definition of affordable housing
More informationProperty. Mashreq. Economic Overview. Wealth Gauge.
Economic Overview The UAE economy has registered a growth of 5.2 in 2013. In spite of the dip in Oil prices globally the economy is expected to have registered a GDP growth between 4.7-4.8 in 2014. The
More informationProperty. Mashreq. Economic Overview. Wealth Gauge
Wealth Gauge Volume 23 November 2015 Economic Overview In spite of the dip in Global Oil prices the GDP for 2015 grew at 3.5. The UAE economic growth is expected to slow down and grow at 2.9 in 2016 driven
More informationFY18 Financial Results 11 October 2018
FY18 Financial Results 11 October 2018 Disclaimer This presentation is for information only and does not constitute an invitation or offer to a c q u i r e, p u r c h a s e or s u b s c r i b e f o r u
More informationIFRS 3 Business Combinations
IFRS 3 Business Combinations What constitutes a business? an integrated set of activities and assets that is capable of being conducted and managed for the purpose of providing a return in the form of
More informationPRESENTS AN EXCLUSIVE ADDRESS FOR BUSINESS AT THE BURJ DISTRICT THE BINARY
PRESENTS AN EXCLUSIVE ADDRESS FOR BUSINESS AT THE BURJ DISTRICT THE BINARY BUILT FOR BUSINESS The Binary is located just off Dubai s commercial corridor; Sheikh Zayed Road, in the heart of Business Bay,
More informationFront Yard Residential Corporation Announces Transformative Acquisition and Reports Second Quarter 2018 Results
Front Yard Residential Corporation Announces Transformative Acquisition and Reports Second Quarter 2018 Results August 9, 2018 CHRISTIANSTED, U.S. Virgin Islands, Aug. 09, 2018 (GLOBE NEWSWIRE) -- Front
More information3Q FY18 Financial Results 10 July 2018
3Q FY18 Financial Results 10 July 2018 Disclaimer This presentation is for information only and does not constitute an invitation or offer to a c q u i r e, p u r c h a s e or s u b s c r i b e f o r u
More informationReport Highlights. Residential Market Q Snapshot. Valuations Mortgage and Secured Lending Portfolio Valuations
OBSERVER Dubai Market Report Q3 / 218 Services Valuations Mortgage and Secured Lending Portfolio Valuations Advisory and Research Financial Feasibilities Highest and Best Use Studies Market Research Conceptual
More informationDubai Real Estate Report Q3 2017
Property Review Dubai Real Estate Report Q3 2017 In the Middle East for over 30 Years 2 Property map 3 Sales Rentals 4 Sales Rentals 5 Offices Sales Rentals Dubai Property Map 17 3 To Abu Dhabi 6 27 3
More informationReport Highlights. Residential Market Q Snapshot -3% -3% Valuations Mortgage and Secured Lending Portfolio Valuations
OBSERVER Abu Dhabi Market Report Q3 / 218 Services Report Highlights Valuations Mortgage and Secured Lending Portfolio Valuations Advisory and Research Financial Feasibilities Highest and Best Use Studies
More informationInstitutional Presentation IIIQ FY 2018
Institutional Presentation IIIQ FY 2018 www.irsa.com.ar IRSA: Leading Real Estate Company in Argentina Largest Real Estate Company in Argentina with opportunistic investments abroad 63.8% 86.34% HOTELS
More informationRetail Opportunity Investments Corp. Reports Strong First Quarter Results & Raises FFO Guidance
April 27, 2016 Retail Opportunity Investments Corp. Reports Strong First Quarter Results & Raises FFO Guidance $17.4% increase in FFO Per Diluted Share 7.6% Increase in Same-Center Cash Net Operating Income
More informationQatar Real Estate Market Overview. Cityscape, March 2017
Qatar Real Estate Market Overview Cityscape, March 217 Qatar Real Estate Market Overview Introduction Overview The fall in oil prices, which started in 214, started to have an impact the real estate market
More informationThe St. Joe Company Reports Full Year and Fourth Quarter 2010 Results
The St. Joe Company Reports Full Year and Fourth Quarter 2010 Results WaterSound, Florida - (March 1, 2011) - The St. Joe Company (NYSE: JOE) today announced a Net Loss for the full year ended 2010 of
More informationInvestor Presentation Shaw and Partners - Emerging Leaders Conference
Investor Presentation Shaw and Partners - Emerging Leaders Conference Your Community Developer 31 May 2017 1 AVJennings at a glance 2 ON AFFORDABLE HOUSING IN URBAN GROWTH CORRIDORS STRONG BALANCE SHEET
More informationDubai Real Estate Report Q2 2017
Property Review Dubai Real Estate Report Q2 2017 In the Middle East for over 30 Years 2 Property map 3 Rent Sales 4 Rent Sales 5 Offices Rent Sales Dubai Property Map 16 3 To Abu Dhabi 6 3 46 26 19 Most
More information-6.2% -11.5% PROPERTY MARKET OUTLOOK. Abu Dhabi, Spring 2018 RESIDENTIAL MARKET. cluttons.com
cluttons.com Abu Dhabi, Spring 2018 PROPERTY MARKET OUTLOOK RESIDENTIAL MARKET Rate of capital value declines slows The first quarter of 2018 has recorded a slowing in the rate of capital value declines
More informationAbu Dhabi Real Estate Report Q1 2018
Property Review Abu Dhabi Real Estate Report In the Middle East for over 30 Years CONTENT 03 05 07 09 MARKET OVERVIEW APARTMENT RENTAL RATES VILLA RENTAL RATES OFFICE RENTAL RATES 04 06 08 10 SUPPLY APARTMENT
More informationH RESULTS 10 AUGUST 2018 TLG IMMOBILIEN AG H RESULTS
TLG IMMOBILIEN AG H1 2018 RESULTS DISCLAIMER This presentation includes statements, estimates, opinions and projections with respect to anticipated future performance of TLG IMMOBILIEN ("Forward-Looking
More informationProperty. Mashreq. Economic Overview. Wealth Gauge.
FOR THE PRIVILEGED FEW Mashreq Volume 12 August 20 Economic Overview As per National Bureau of Statistics, the economic growth in UAE for 20 stands at 5.2 which was well supported by Trade & Tourism, Hospitality
More informationWP Glimcher Reports Second Quarter 2016 Results
NEWS RELEASE WP Glimcher Reports Second Quarter 2016 Results COLUMBUS, OH August 3, 2016 WP Glimcher Inc. (NYSE: WPG) today reported financial and operating results for the second quarter ended June 30,
More informationInvestor Presentation Second Quarter 2006
Investor Presentation Second Quarter 2006 2006 Highlights (Six months to June 30, 2006) Revenues up 10.2% from accretive acquisitions Net Operating Income up 10.9% NOI margin increases Stabilized portfolio
More informationMARGARITAVILLE RESORT CASINO TRANSACTION OVERVIEW JUNE 19, 2018
MARGARITAVILLE RESORT CASINO TRANSACTION OVERVIEW JUNE 19, 2018 DISCLAIMERS Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the federal securities
More informationWhite Paper on Adjusted Cashflow From Operations (ACFO) for IFRS. February, 2018
White Paper on Adjusted Cashflow From Operations (ACFO) for IFRS February, 2018 Copyright REALPAC is the owner of all copyright in this publication. All rights reserved. No part of this document may be
More informationFOR IMMEDIATE RELEASE CONTACT: John Bucksbaum 312/ General Growth Properties, Inc. Reports Operating Results for the Third Quarter 2005
News Release General Growth Properties, Inc. 110 North Wacker Drive Chicago, IL 60606 (312) 960-5000 FAX (312) 960-5475 FOR IMMEDIATE RELEASE CONTACT: John Bucksbaum 312/960-5005 Bernie Freibaum 312/960-5252
More informationAbu Dhabi Real Estate Report Q4 2017
Historic Review and Outlook Abu Dhabi Real Estate Report Q4 2017 2 Property map 3 Historic Review 4 Highlights and Outlook In the Middle East for over 30 Years Apartment 5 6 Rentals Villa and Office Rentals
More informationOUE Commercial REIT s Portfolio To Exceed S$3.0 Billion With Proposed Acquisition Of Indirect Interest In One Raffles Place
PRESS RELEASE For Immediate Release OUE Commercial REIT s Portfolio To Exceed S$3.0 Billion With Proposed Acquisition Of Indirect Interest In One Raffles Place 10 June 2015 OUE Commercial REIT Management
More informationFOR IMMEDIATE RELEASE: Equity One Reports Fourth Quarter and Year End 2014 Operating Results
Equity One, Inc. For additional information: 410 Park Avenue, Suite 1220 Mark Langer, EVP and New York, NY 10022 Chief Financial Officer 212-796-1760 FOR IMMEDIATE RELEASE: Equity One Reports Fourth Quarter
More information-- Expanding relationship with Brookdale by creating a $1.2 billion CCRC joint venture and amending existing Emeritus leases
Page 1 of 11 Print Page Close Window News Release HCP Announces Results for Quarter Ended March 31, 2014 HIGHLIGHTS -- FFO per share was $0.75; FAD per share was $0.63; and EPS was $0.56 -- Achieved year-over-year
More informationFY2012 RESULTS PRESENTATION
FY2012 RESULTS PRESENTATION 21 August 2012 INVESTMENT HIGHLIGHTS Proven track record of consistent earnings growth and meeting targets Strategically located and diverse residential portfolio Urban and
More informationDEVELOPING EAST CAIRO SINCE
1 DEVELOPING EAST CAIRO SINCE 1959 MNHD at a glance 2 2019 MNHD Corporate History & Structure MNHD is currently positioned as one of the leading real estate developers in Egypt MNHD s history dates back
More informationReal estate development significant growth driver Company profile and business model High-quality Investment Portfolio
STRATEGY Over three decades of continual development, CA Immo has become distinctly competitive and secured an excellent market position in Central Europe. By letting, managing and developing high quality
More informationDubai Market Overview - Q3 2017
Dubai Market Overview - Q3 2017 Sales prices have been relatively steady over the first 9 months of 2017, with average sale prices of apartments remaining stable while villa prices fell by 3%. This is
More informationAlexander & Baldwin, Inc. PREMIER HAWAII REAL ESTATE COMPANY
1 Alexander & Baldwin, Inc. PREMIER HAWAII REAL ESTATE COMPANY 1Q17 Earnings Call May 4, 2017 Disclosure 2 Statements in this call and presentation that are not historical facts, including potential benefits,
More informationDubai Real Estate Market Overview Q Dubai
Dubai Real Estate Market Overview Dubai Dubai Market Summary Cityscape Global reflects improved market sentiment Cityscape remains a good barometer of sentiment towards the Dubai real estate market. The
More informationFirst Sponsor Group Limited Investor Presentation 24 July 2015
First Sponsor Group Limited Investor Presentation 24 July 2015 The initial public offering of the Company s shares was sponsored by DBS Bank Ltd., who assumes no responsibility for the contents of this
More information4Q & FY16/17 Financial Results
4Q & FY16/17 Financial Results 24 April 2017 Important Notice This presentation shall be read in conjunction with Mapletree Industrial Trust s ( MIT ) financial results for Fourth Quarter Financial Year
More information2018 Half-Year Results Ongoing developments to prepare for the future
Press Release 2018/07/20 2018 Half-Year Results Ongoing developments to prepare for the future The Board of Directors of Société de la Tour Eiffel, which met on 20 July 2018, approved the financial statements
More informationInterim report presentation
Interim report presentation 10 November, 2017 Anders Nissen, CEO Liia Nõu, CFO Forward-looking statements This presentation contains forwardlooking statements. Such statements are subject to risks and
More informationSUNTEC REIT FINANCIAL RESULTS. For the 1 st Quarter ended 31 March 2017
SUNTEC REIT FINANCIAL RESULTS For the 1 st Quarter ended 31 March 2017 26 April 2017 Agenda 03 Q1 17 Highlights 05 Financial Highlights 15 Office Portfolio Performance 22 Retail Portfolio Performance 29
More informationQ Results presentation 23 Oct,
Q3 2012 Results presentation 23 Oct, 2012 http://www.alarkan.com 1 Market Leading Presence in the Middle Income Real Estate Domain Dar Al Arkan Overview Largest land & property developer in KSA, with about
More informationSponda Financial Results Q4 and FY February 2017
Sponda Financial Results Q4 and FY 2016 3 February 2017 1. 2. 3. 4. Highlights for the Period Kari Inkinen Portfolio Development Pia Arrhenius Financials Niklas Nylander Business Environment and Business
More informationJMP Securities Financial Services and Real Estate Conference. Christopher J. Benjamin, President & Chief Operating Officer Alexander & Baldwin, Inc.
JMP Securities Financial Services and Real Estate Conference October 1, 2013 Christopher J. Benjamin, President & Chief Operating Officer Alexander & Baldwin, Inc. DISCLOSURE Statements in this presentation
More informationGreat Elm Capital Group, Inc. An Introduction to the Fort Myers Transaction & GEC s Real Estate Strategy
Great Elm Capital Group, Inc. An Introduction to the Fort Myers Transaction & GEC s Real Estate Strategy March 6, 2018 2018 Great Elm Capital Group, Inc. Disclaimer Statements in this presentation that
More informationInternational Complex Projects Limited
Rating Report RATING REPORT REPORT DATE: January 03, 2017 RATING ANALYSTS: Talha Iqbal talha.iqbal@jcrvis.com.pk Osman Rahi Osman.rahi@jcrvis.com.pk RATING DETAILS Initial Rating Rating Category Longterm
More informationDUBAI HOUSING MARKET STUDY 2017
DUBAI HOUSING MARKET STUDY 217 Executive Summary Dubai residential market has been a story of increased supply and unsold stock resulting in declining prices over the last three years. Soft price corrections
More informationKEPPEL LAND LIMITED (Co. Reg. No ) (Incorporated in Singapore)
KEPPEL LAND LIMITED (Co. Reg. No. 189000001) (Incorporated in Singapore) PROPOSED DIVESTMENT OF ONE-THIRD INTEREST IN MARINA BAY FINANCIAL CENTRE TOWER 3 1. INTRODUCTION Keppel Land Limited ( KLL or the
More informationAldar Properties (ALDR.AD)
(ALDR.AD) Equity Research Initial Coverage July 9th 2007 Current Price: AED 7.69 Country: United Arab Emirates Fair value Target: AED 13.68 Sector: Real Estate Recommendation: BUY Exchange: Abu Dhabi Securities
More informationPRIMARIS RETAIL REIT Announces Third Quarter Results
PRIMARIS RETAIL REIT Announces Third Quarter Results Toronto (Ontario) November 8, 2011 Primaris Retail REIT (TSX:PMZ.UN) is pleased to report positive operating results for the third quarter of 2011.
More informationEMAAR MALLS GROUP PJSC Q RESULTS
EMAAR MALLS GROUP PJSC HIGHLIGHTS 22% Increase in Rental Income (Q1-15 vs. Q1-14) 99% GLA Occupancy Rate (Q1 2015) Footfall World s Most Visited Leisure & Lifestyle Destination ~AED 46 Bn Market Capitalisation
More informationHotel Property specialists Arabian Gulf
Hotel Property specialists Arabian Gulf OUR SERVICES Incisive strategies, total capability and a research led approach Our hospitality real estate team is well versed to support you in pursuing your investment
More informationFull Year Results Presentation for the year ended 31 December March 2015
Full Year Results Presentation for the year ended 31 December 2014 3 March 2015 Disclaimer This presentation is not intended to, and does not constitute or form part of, any offer, invitation or the solicitation
More informationPublic Storage Reports Results for the Quarter Ended March 31, 2017
News Release Public Storage 701 Western Avenue Glendale, CA 91201-2349 www.publicstorage.com For Release Immediately Date April 26, 2017 Contact Clemente Teng (818) 244-8080, Ext. 1141 Public Storage Reports
More information2016 FULL-YEAR RESULTS WEBCAST 21 FEBRUARY 2017
FULL-YEAR RESULTS WEBCAST 21 FEBRUARY 2017 DISCLAIMER The information contained in this document has not been independently verified. No representation, warranty or undertaking, express or implied, is
More informationInterim Results - FY2015. Sun Hung Kai Properties Limited
Interim Results - FY2015 27 February 2015 1 Disclaimer The information contained in these materials is intended for reference and general information purposes only. Neither the information nor any opinion
More informationEMAAR MALLS GROUP PJSC Q RESULTS
EMAAR MALLS GROUP PJSC DISCLAIMER Emaar Malls Group PJSC gives notice that: The particulars of this presentation do not constitute any part of an offer or a contract. Given that the presentation contains
More informationAmerica s Parking REIT
* America s Parking REIT November 2017 1 *Name change assuming the closing of the merger between MVP REIT, Inc. and MVP REIT II, Inc. Disclaimers Cautionary Note on Forward-looking Statements This presentation
More informationInstitutional Presentation 2Q FY2017
Institutional Presentation 2Q FY2017 IRSA Commercial Properties (IRCP) at a Glance The leading commercial real estate player in Argentina Largest owner and operator of premium malls and office buildings
More informationInstitutional Presentation 3Q FY2017
Institutional Presentation 3Q FY2017 IRSA Commercial Properties (IRCP) at a Glance The leading commercial real estate player in Argentina Largest owner and operator of premium malls and office buildings
More information<<BACK TO MAIN MENU A GUIDE TO BUYING PROPERTY IN ABU DHABI
A GUIDE TO BUYING PROPERTY IN ABU DHABI This Guidance* is correct as at 20 November 2016. For the latest version please email guides@cpestateagents.com. Abu Dhabi Law 19 of 2005 did two things, firstly
More information2010 Interim Results Presentation Interim Results 1 September 2010
2010 Interim Results Presentation 2010 Interim Results 1 September 2010 1 Disclaimer This presentation contains forward-looking statements that involve risks and uncertainties. These statements are generally
More informationDubai Real Estate Market Overview Q Dubai
Dubai Real Estate Market Overview Q2 2011 Dubai Market Highlights Q2 2011 The investment market continues to polarize, with most interest coming from private rather than institutional investors. Jones
More informationCENTURY PROPERTIES GROUP, INC. Analysts Presentation April 20, 2017
CENTURY PROPERTIES GROUP, INC. Analysts Presentation April 20, 2017 IMPORTANT NOTICE AND DISCLAIMER These materials have been prepared by Century Properties Group, Inc. (together with its subsidiaries,
More informationABU DHABI MID-YEAR SNAPSHOT
ABU DHABI MID-YEAR SNAPSHOT Core Savills Research August 2017 Residential Market Office Market Other Market Segments Market Outlook Residential Market Office Market Other Market Segments Market Outlook
More informationCOLLIERS INTERNATIONAL 2019 LANDLORD SENTIMENT SURVEY
COLLIERS INTERNATIONAL 2019 LANDLORD SENTIMENT SURVEY Colliers International 2019 Landlord Sentiment Survey 1 SURVEY OVERVIEW Colliers International s survey of landlords was conducted and completed between
More informationSenior Housing Properties Trust Announces Fourth Quarter and Year End 2017 Results
Senior Housing Properties Trust NEWS RELEASE Senior Housing Properties Trust Announces Fourth Quarter and Year End 2017 Results 2/27/2018 NEWTON, Mass.--(BUSINESS WIRE)-- Senior Housing Properties Trust
More informationes nc eside sta R Shai
I m Home 1 Shaista Residences Shaista Apartments 3 Shaista Residences Chairman s Message 2016 has been a significant year for Azizi Developments. While two of our projects at Al Furjan Azizi Yasamine and
More informationAscott Residence Trust A Leading Global Serviced Residence REIT
Ascott Residence Trust A Leading Global Serviced Residence REIT Acquisition of a Second Property in New York, United States of America 1 14 March 2016 Disclaimer IMPORTANT NOTICE The value of units in
More informationMANAGEMENT PRESENTATION. November 7, 2017
MANAGEMENT PRESENTATION November 7, 2017 DISCLAIMER This presentation includes time-sensitive information that may be accurate only as of today s date, November 7, 2017. Estimates of future net income
More informationInstitutional Presentation 3Q FY2017
Institutional Presentation 3Q FY2017 1 IRSA Commercial Properties + Other diversified assets 94.61% 29.91% HOTELS LANDBANK INTERNATIONAL SHOPPING Malls OFFICE Buildings VP 28.7% 68.3% 49% ~417,000 sqm
More informationQ Cairo Real Estate Market Overview
Cairo Real Estate Market Overview Cairo Market Summary All sectors of the Cairo real estate market continued to exhibit positive performance and improved sentiment during. The Egypt Economic Development
More information2015 ANNUAL RESULTS WEBCAST 16 FEBRUARY 2016
ANNUAL RESULTS WEBCAST 16 FEBRUARY 2016 DISCLAIMER The information contained in this document has not been independently verified. No representation, warranty or undertaking, express or implied, is made
More informationAbu Dhabi Real Estate Report Q1 2017
Property Review Abu Dhabi Real Estate Report In the Middle East for over 30 Years Offices 2 3 4 5 Rent Sales Rent Sales Rent Sales Property map Abu Dhabi -3% -4% -3% -3% Q-o-Q % change Prime High end Mid
More informationExecutive Summary. Overview DUBAI HOUSE PRICE INDEX: QUARTER ON QUARTER Q / Q4 2015
Dubai House Price Index Fourth Quarter 2015 Index Points Index Points Executive Summary Overview DUBAI HOUSE PRICE INDEX: QUARTER ON QUARTER The overall quarterly index registered a 3% decrease in Q4 2015,
More informationPS Business Parks, Inc. Reports Results for the Quarter Ended March 31, 2017
News Release PS Business Parks, Inc. 701 Western Avenue Glendale, CA 91201-2349 psbusinessparks.com For Release: Immediately Date: April 25, 2017 Contact: Edward A. Stokx (818) 244-8080, Ext. 1649 PS Business
More informationProject Direction Presentation June SBM Offshore All rights reserved.
Project Direction Presentation June 2013 Disclaimer Some of the statements contained in this presentation that are not historical facts are statements of future expectations and other forward-looking statements
More information