May 7, 2018 / 4:55 AM / 16 days ago

BRIEF-Aldar Properties Acquires AED 3.7 Bln Of Assets From TDIC

May 7 (Reuters) - ALDAR PROPERTIES:

* ALDAR ACQUIRES AED 3.7 BILLION OF ASSETS FROM TDIC

* REACHES AGREEMENT WITH TOURISM DEVELOPMENT & INVESTMENT COMPANY TO ACQUIRE A PORTFOLIO OF PRIME REAL ESTATE ASSETS WORTH AED 3.7 BILLION

* ACQUISITION IS EXPECTED TO FUL LY COMPLETE BY END OF JUNE 2018

* OPERATING ASSETS BEING ACQUIRED WILL DELIVER INCREMENTAL NET OPERATING INCOME OF ABOUT AED 120 MILLION TO ALDAR’S ASSET MANAGEMENT PORTFOLIO ON AN ANNUALISED BASIS

* GROSS DEVELOPMENT VALUE OF PROJECTS UNDER DEVELOPMENT ON SAADIYAT ISLAND IS AED 2.5 BILLION Source:(bit.ly/2rofW3t) Further company coverage:

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