Aldar Properties
had a difficult second quarter
, with an operating loss of Dh22m and an absence of sales. The company's troubles, and those of
Sorouh
, are proof that Abu Dhabi is now fully enmeshed in the property downturn. Still, both companies seem confident that things will pick up later this year when big projects come online.
The number of contractors and consultants entering Abu Dhabi increased by 50 per cent
during the first six months of the year, compared to the year-earlier period, Emirates Business 24/7 reports. The data comes from the
Directorate of Contractors' Classification and Consultants' Registration at the Department of Economic Development
. That is a serious name.
