Wednesday 01 December 2021 - 7:22:52 pm

Aldar first real estate company in GCC to adopt EPRA best practice disclosures

ABU DHABI, 5th April, 2021 (WAM) -- Aldar Properties has become the first company in the GCC region to adopt the European Public Real Estate Association’s (EPRA) best practice for disclosure, enhancing investor transparency in alignment with international real estate industry standards.

EPRA’s Best Practice Recommendations (BPR) encourage companies to provide detailed property-specific metrics, which are widely followed by global specialist real estate-focused institutional investors. These disclosures are in addition to normal IFRS reporting requirements.

Aldar, which has been a member of EPRA since 2018, has included the additional performance indicators for the last two financial years in the company’s 2020 annual report, which is now available on the Aldar website.

The EPRA BPR disclosure framework reinforces quality, consistency, and comparability of financial reporting across the real estate industry. It allows for better like-for-like comparisons over time and between peer groups on key performance measures including adjusted earnings, net asset value, yield, vacancy rate and cost ratios.

Greg Fewer, Chief Financial and Sustainability Officer at Aldar Properties, said, "Abu Dhabi has an exciting, investment-grade real estate sector and we are proud to be enhancing disclosures that showcase our powerful platform to a wider audience of international real estate investors.

"Greater data transparency and best-in-class financial reporting remain an integral part of Aldar’s engagement with investors and other important stakeholders. Moreover, we believe that detailed disclosures will contribute to attracting increased global flows of capital into the UAE and the regional real estate sector."

WAM/Rola Alghoul/Rasha Abubaker