May 14, 2019 / 10:00AM GMT
Operator
Thank you all for standing by, ladies and gentlemen, and welcome to today's Aldar Q1 Results Investor Conference Call. (Operator Instructions) Please be advised that the call is being recorded today, that is Tuesday, the 14th of May, 2019.
I would now like to hand the conference over to your speaker Mr. Greg Fewer. Thank you. Please go ahead.
Greg Fewer - Aldar Properties PJSC - CFO
Thank you very much. Good afternoon and good morning, everybody, and welcome to Aldar's Q1 2019 Results Call. My name is Greg Fewer, the Chief Financial Officer here at Aldar. As mentioned, we'll give a brief overview of our performance and we'll get right into Q&A.
Kicking off with our financial performance, we're very proud to be reporting a 20% increase in revenue to approximately AED 1.76 billion, which was supported by last year's asset acquisition and recognition of development revenue, as projects under construction achieved construction milestones over the quarter.
Our Q1 off-plan development sales were AED 1 billion, up 49% year-on-year,
Q1 2019 Aldar Properties PJSC Earnings Call Transcript
Mar 16, 2024
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