ALDAR Properties to become a holding company in 2007
'Real Estate Fund Manager' ALDAR Properties recently announced that it would become a holding company at some point in 2007, as well as launching four multi-billion dirham worth sub-sector specific investment funds.
"We are in process of exciting and huge developments we would be undertaking activities in the development of high end educational institutions, health clinics, and hotels as separate corporate entities under its umbrella," said ALDAR CEO Ronald Stephen Barrott, according to Khaleej Times.
ALDAR will also enter the hospitality sector and establish its own hotels in the domestic market. The company also plans to enter the international market at a later stage.
"The hotels would run under management contracts with other reputed companies and later on Aldar will develop its own brand," Barrot added.