Abu Dhabi's Aldar Properties Q3 net profit rises 11%

Aldar Properties, the builder of Abu Dhabi's Formula One circuit, reported an 11% rise in third-quarter net profit on Wednesday, helped by higher sales as the pandemic recovery picked up pace.

Profit attributable to shareholders came in at 473.2 million dirhams ($128.85 million) for the three months ended Sept. 30, compared with 426.2 million dirhams in the prior-year period.

"As post-pandemic recovery gathered momentum, our diversified businesses continued to rebound at pace, with the third quarter delivering 2.69 billion dirhams in development sales," Chief Executive Officer Talal Al Dhiyabi was quoted as saying.