RESULTS TS 2019 RESUL TION ENTATIO PRESENT Q3 2019 PRES Al Aldar Q3 2019 Results
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Revenue Gross profit Development sales Net profit Recurring revenue NOI (AED m) (+14%) (AED m) (+7%) (AED m) (- 8%) (AED m) (+272%) (AED m) (+4%) 1,605 1,497 1,118 662 420 387 581 397 381 301 Q3 2018 Q3 2019 Q3 2018 Q3 2019 Q3 2018 Q3 2019 Q3 2018 Q3 2019 Q3 2018 Q3 2019 AT A GLANCE Development Asset Management Corporate and other ▪ Development Management (DM) revenue ▪ 4% NOI growth to AED 397 million driven ▪ Net profit down 8% to AED 387 million, up 20% and gross profit up 29%, supported by recent asset additions; Etihad Plaza, mainly driven by one-off other income by strong progress on key development Etihad Plaza and Al Jimi Mall extension event in the same quarter last year projects under construction offsetting Like-for-like (LfL) rate declines ▪ As at 30 Sep 2019, the balance sheet Q3 2019 Q3 2019 ▪ Development sales up 272% to AED 1.12 ▪ Resilient 90% occupancy performance remains robust with cash plus available billion during the quarter, YTD sales up across investment properties (residential, and undrawn liquidity lines of AED 5.7 128% to AED 2.99 billion, driven by strong retail and commercial) billion demand for new project launches and sales ▪ Solid performance for hospitality with year- ▪ Conservative debt position at AED 7.7 on inventory to-date occupancy at 75%, supported by billion, well within debt policy ranges for ▪ 80% sold across all Aldar units launched as strong Abu Dhabi events calendar, ahead both asset management (37.5%) and at period end of wider Abu Dhabi market at 71% development management (10.3%) businesses ▪ DM revenue backlog as at 30 Sep 2019 ▪ Key adjacent businesses; Aldar Academies marginally increased to AED 4.6 billion, (schools), Provis (property management) providing clear visibility of future revenue and Khidmah (facilities management) cashflows meaningfully contributing to Q3 numbers Al Aldar Q3 2019 Results 2
Asset class NOI contribution AED 381 mn +4% AED 397 mn AED 1,154 mn +6% AED 1,224 mn 120 63 47 30 20 62 0 3 330 111 104 310 GEMENT 121 382 364 121 MANAGEMEN 123 359 367 118 Q3 2018 Q3 2019 YTD 2018 YTD 2019 Resi Retail Commercial Hospitality Adjacencies and other Resi Retail Commercial Hospitality Adjacencies and other Hospitality Adjacencies & other Residential Retail Commercial ▪ Aldar has tripled student 89% occupancy¹ 90% occupancy¹ 91% occupancy¹ 75% occupancy¹ numbers to 22,000 over ASSET ASSET the past 2 years across network ▪ Stable occupancy ▪ Increased community ▪ Stable NOI supported ▪ Strong Abu Dhabi retail occupancy by stable occupancy events calendar ▪ Provis , Aldar’s property ▪ Asset additions, and long-term leases supporting a 4% and management businesses ▪ Al Jimi mall extension offsetting lower 8% growth i n portfolio now manage a total of MAN ▪ Etihad Airways Centre renewal rates and opened in March 2019 occupancy and ADRs 15,000 properties under divestment of Al added in March 2019 ▪ Yas Mall trading respectively versus management Murjan Tower ▪ WAULT : 5.0¹ years occupancy 89%¹ YTD 2018 ▪ Stable performance across ▪ Bulk deals now ▪ WAULT: 3.2¹ years district cooling assets represent 48% ▪ WAULT: 6.1¹ years ¹ As at 30 Sep 2019 Aldar Q3 2019 Results Al 3
Development revenue based on progress of completion 100% Jawaher Mamsha Ansam Hadeel Nareel Island OPMENT DEVELOPMENT The Bridges Al Merief West Yas¹ Mayan GEMENT MANAGEMENT Meera Yas Acres Q3 2019 development highlights 0% Revenue recognised 18 projects within development pipeline at various stages – 6 handed over/ in process of handover Water’s Edge AED 1.1 billion development sales achieved in Q3 2019, up 272% (Q3 2018: AED 0.3 billion) Alghadeer AED 3.0 billion development sales achieved in YTD 2019, up 128% (YTD 2018: AED 1.3 billion) Reflection Alreeman Lea AED 4.6 billion development sales revenue back log Alreeman II DEVE as at 30 Sep 2019 Saadiyat reserve MAN 80% sold across all Aldar units launched Launch date Time c.2-2.5 years (excluding handed over units) Tender Launched Main Final stages contract development construction of Handover and early for sale stage construction works ¹ West Yas is a third-party development management fee-based project Al Aldar Q3 2019 Results 4
New development launches in 2019 driving Q3 and YTD 2019 development sales Abu Dhabi mainland – Alshamkha Yas Island Saadiyat Island T OPMENT Al Reeman Al Reeman II Lea Saadiyat Reserve DEVELOPMEN UNCHES CHES ▪ Public launch in January 2019 ▪ Public launch in June 2019 ▪ Launched at CityScape Abu ▪ Public launch in September Dhabi 2019 2019 ▪ Located ▪ Located in Al Shamka in Al Shamka DEVEL investment zone on mainland investment zone on mainland ▪ Located ▪ Located with Yas Acres in Saadiyat island Abi Dhabi near airport Abi Dhabi near airport investment zone master plan, investment zone masterplan LAUN on Yas Island close to tourist attractions ▪ Master ▪ Master planned villa (786 planned residential units) and commercial land community available to UAE ▪ Master planned villa land plots ▪ 223 Master planned prime plots (220 units) for sale nationals only villa land plots for sale for sale including 238 plots ▪ 89% sold as at 30 Sep’ 19 ▪ 84% sold as at 30 Sep’ 19 ▪ 85% sold as at 30 Sep’ 19 ▪ 30% sold as at 30 Sep’ 19 – LA further sales pending as at period end Aldar Q3 2019 Results Al 5
Development Management segment gross profit AED 5 billion in projects awarded by government in July guidance increased 50% following recent govt 2019 across national housing, awards (AED mn) AED 150 AED 3 billion contracts awarded in July for Al Falah, mn/ year AED 100 twofour54 and first phase of Saadiyat infrastructure mn/ year VERNMENT GOVERNMENT AED 3 billion added to revenue backlog in July 2019, driven by offtake on Al Falah and twofour54 2016A-2018A 2019E-2021E Al Falah residential Twofour54 media free-zone Saadiyat infrastructure WARDS AWARD ▪ AED 2.0 billion project value ▪ AED 1.0 billion project value ▪ AED 2.0 billion project value ▪ Located ▪ Located on Yas Island ▪ Located on Saadiyat Island in existing Al Falah residential community near airport ▪ Includes 100,000 sqm GLA that will ▪ Project will complete primary ▪ Master planned villa development ultimately house 10,000 employees infrastructure works to Saadiyat GO including 899 residential units Island ▪ Fixed price offtake to government ▪ Fixed price offtake to government ▪ Development management fee ▪ Handover from 2021 ▪ Handover from 2021 ▪ Handover from 2021 Al Aldar Q3 2019 Results 6
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