ABU DHABI: Abu Dhabi's Aldar Properties plans to extend maturities of its 6 billion dirham ($1.6 billion) debt, which includes a $750 million sukuk issue, its chief financial officer said on Monday.
The company is talking to banks about extending maturities on the debt, which in addition to the sukuk includes loans maturing in the next three years, Greg Fewer told reporters on a conference call about its earnings.
Aldar is unlikely to be impacted by a fire at one of its projects in Kazakhstan because it is not the owner, he added.
The company is keeping a close eye on the real estate market in Abu Dhabi, which has been seeing a slowdown in recent months, Talal al-Dhiyebi, executive director at Aldar, said on the same call.
Reuters
