First in GCC; UAE’s Aldar Properties adopts EPRA’s BPR for disclosures

By Ashika Rajan, Trainee Reporter
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Aldar Properties
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Abu Dhabi-based property development company Aldar properties is the first company in the GCC to follow the European Public Real Estate Association’s (EPRA) best practice for disclosure, improving investor transparency, and aligning with international real estate industry standards.

EPRA’s Best Practice Recommendations (BPR) enable companies to include detailed property-specific indicators, which are commonly adopted by global specialist real estate-focused institutional investors. These disclosures are in addition to the provisions of the International Financial Reporting Standards (IFRS).

Aldar, an EPRA member since 2018, has included the additional performance metrics for the previous two financial years in its 2020 annual report, which is now available on the company’s website.

The EPRA BPR disclosure process ensures that financial reporting is of high quality, reliable, and comparable across the real estate industry. It allows for better like-for-like comparisons of key performance metrics such as adjusted earnings, net asset value, yield, vacancy rate, and cost ratios over time and between peer groups.

Mr. Greg Fewer, Chief Financial and Sustainability Officer Aldar Properties pointed out that “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,” Mr. Fewer concluded.

Related: Aldar unveils $136mn redevelopment plan for Yas Mall