Jul 29, 2024 / 11:00AM GMT
Operator
Hello everyone and welcome to the Aldar Properties H1 2024 financial results call. My name is Emily and I'll be coordinating your call today. (Operator Instructions)
I'll now turn the call over to our host, Chief Financial and Sustainability Officer, Faisal Falaknaz. Please go ahead.
Faisal Falaknaz - Aldar Properties PJSC - Group Chief Financial & Sustainability Officer
Hello everybody. Thank you all for joining us on this call to discuss Aldar's financial performance for H1 2024.
As the UAE continues to provide a conducted macroeconomic environment for the sector, Aldar has delivered strong year-to-date growth, driven by solid demand across all real estate asset classes. Revenue was up 73% year-on-year at AED10.9 billion, while EBITDA rose 61% to AED3.9 billion and net profit increased 57% year-on-year to AED3.3 billion. Please note that the overall effective tax rate was 4.1% in the first half following introduction of corporate income tax in January.
Our two core platforms Aldar Development and Aldar Investments have achieved
Q2 2024 Aldar Properties PJSC Earnings Call Transcript
Jul 29, 2024
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