q2 2017 results presentation - aldar properties uploads/aldar q2 17... · q2 2017 results...
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Q2 2017 RESULTS PRESENTATION
3 August 2017
Q2 2017 RESULTS PRESENTATION
3 August 2017
DISCLAIMER
2
This disclaimer governs the use of this presentation You must not rely on the information in the presentations and
alternatively we recommend you to seek advice from an appropriately qualified professional If you have any
specific questions about any matter in this presentation you should consult an appropriately qualified
professional
The statements made in this presentation are only forward thinking statements Such statements are based on
expectations and are subject to a number of risks and uncertainties that could differ materially from any expected
outcome or results expressed or implied in these statements
Without prejudice to the generality of the foregoing paragraph we do not represent warrant undertake or
guarantee that the information in the presentation is accurate or use of guidance in the presentation will lead to
any particular outcome or result
We will not be liable to you in respect of any business losses including without limitation loss of or damage to
profits income revenue use production anticipated savings business contracts commercial opportunities
reputation or goodwill
Q2 2017 AT A GLANCE
3
Development Management
bull Successful launch of The Bridges ndash sold out
bull AED 813 million development sales value during quarter
Asset Management
bull Resilient asset performance ndash AED 357 million recurring revenue gross profit
New announcements
bull AED 1 billion project award ndash part of new AED 12 billion Yas Island project
bull Aldar Academies ndash appointed to operate four ADNOC schools across Abu
Dhabi
Financial
bull Revenue of AED 14 billion (Q2 2016 AED 17 billion)
bull Gross profit of AED 542 million (Q2 2016 AED 693 million)
bull Net profit of AED 620 million (Q2 2016 AED 654 million)
DEVELOPMENT MANAGEMENT
Talal Al Dhiyebi Chief Development Officer
Q2 2017 DEVELOPMENT HIGHLIGHTS
5
Sales activity
bull Launch of The Bridges during the quarter sold out in three weeks
bull Q2 development sales value of AED 813 million across 616 units driven by The Bridges West Yas and other
developments (H1 2017 AED 18 billion development sales value)
bull 84 sold across all Aldar units launched as at 30 June 2017
Contract awards
bull AED 22 billion main contract awards across Yas Acres and Mayan during first half of 2017
Development management
bull Key projects on track West Yas to commence handovers from Q1 2018
bull Aldar awarded AED 1 billion contract to develop the new twofour54 media free-zone on Yas Island
Q2 2017 DEVELOPMENT PROGRESS
6
Ansam
bull Entering final stages of construction
bull On track for a phased handover to conclude by year-
end
Al Hadeel
bull Entering final stages of construction
bull Handovers to commence from Q4 2017
Nareel Island
bull Entering final stages of construction
bull Land plots on track for completion from Q4 2017
Al Merief
bull Earthworks substantially completed
bull On track for Q1 2018 handover
Ansam progress as at Jun 2017
Al Hadeel progress as at Jun 2017
Q2 2017 DEVELOPMENT PROGRESS
7
Meera
bull Construction well under way
bull Casting works on track ndash reached 20th floor
Mayan
bull Early works complete
bull Main contract awarded and mobilized on-site
Yas Acres
bull Early works complete
bull Main contract awarded and contractor mobilized on-site
West Yas
bull Infrastructure and non-residential work substantially
complete
bull Majority of villas structurally complete
Meera progress as at Jun 2017
West Yas progress as at Jun 2017
SUCCESSFUL LAUNCH OF THE BRIDGES
8
bull Successful launch and sale of The Bridges ndash first three towers sold out in 3 weeks
bull Underserviced segment of the market ndash high-quality mid-market residential
bull Development strategy to focus on mid-market opportunities in near term
DESTINATION YAS ISLAND
9
New development announcements
bull During the quarter AED 12 billion Yas South development
announcement by Government of Abu Dhabi
bull Aldar awarded contract to develop new AED 1 billion
first phase of twofour54 media and entertainment free-
zone that will relocate close to 5000 workers onto Yas
island
Existing and ongoing investment
bull Warner Bros and Sea World projects currently under
development ndash Warner Bros set for completion in 2018
bull 3000 residential units currently under construction between
Ansam Mayan Yas Acres and West Yas that will increase
local population by c10000 people by end of 2020
bull New midfield terminal will support tourism growth from 2019
Schematic images of Yas Bay part of Yas South development
ASSET MANAGEMENT
Jassem Busaibe Chief Asset Management Officer
Q2 2017 ASSET MANAGEMENT HIGHLIGHTS
11
Residential
bull Occupancy maintained at 90
bull Bulk lease demand
Retail
bull Yas Mall 94 trading occupancy
bull First renewals process underway
bull Successful Eid Al Fitr sales event ndash 250000 visitors to Yas Mall over 24 hour period
Office
bull Occupancy stands at 92 as at 30 June 2017
Hotels
bull 78 occupancy YTD (2016 YTD 76) versus wider Abu Dhabi market at 70 sup1
sup1 Source ADTCA June 2017 YTD hospitality sector occupancy
INVESTMENT PLAN FULLY COMMITTED
12
26
2327
12
11
Diverse investment across all key asset classes
Hotels Retail Residential Office Schools
bull AED 3 billion investment plan fully committed
bull To produce a stabilized AED 300 million NOI
bull Continue to monitor opportunities in the market
Daman House acquired in Dec 2015
Al Jimi Mall extension and renovation
FINANCIAL HIGHLIGHTS
Greg Fewer Chief Financial Officer
Q2 2017 FINANCIAL HIGHLIGHTS ndash INCOME STATEMENT
14
Key highlights
bull Excluding significant land transaction in Q2 2016 underlying revenue and gross profit growth driven by
bull increased revenue recognition on off-plan property development ndash property development revenue
recognition up 64 to AED 429 million
bull modest decrease in recurring revenues ndash defensive qualities of investment property portfolio saw gross
profit fall by only 3 year-on-year
bull Other income supported by infrastructure recoverable writebacks during the quarter
bull Additional submissions for infrastructure reimbursements ndash AED 300-600 million left to be recognize
Q2 2017 FINANCIAL HIGHLIGHTS ndash BALANCE SHEET
15
Strong cash position
bull AED 59 billion gross cash including AED 13 billion in restricted and AED 09 billion escrow accounts
respectively
Prudent debt position
bull AED 55 billion gross debt at 30 June 2017
bull Next debt maturity in December 2018 - $750 million sukuk
Government receivables
bull Remaining AED 13 billion to receive over H2 2017-2018 ndash AED 95 million collected during the quarter
bull Further AED 300 million on-balance sheet infrastructure receivables as at 30 Jun 2017
bull Additional infrastructure submissions could lead to further receivables
SUMMARY
16
Development Management
bull Strong activity on the ground
bull Success of The Bridges ndash focus around high-quality mid-market
bull Destination Yas Island ndash new investments underway
bull 1500 unit guidance remains
Asset Management
bull Resilient operational performance remain well positioned in all key sectors
bull Maintain AED 16 billion NOI guidance ndash Q4 hospitality performance key
Financial
bull Strong balance sheet position
APPENDIX
Now follow us on
18
sup1 Sold units and sold units sales value includes all units where a sales purchase agreement (ldquocontractrdquo) has been signed This does not include sales reservations and pending sales contracts Total units and values as at period end are net of fully cancellations
DEVELOPMENT SUMMARY TABLE ndash 30 JUN 17
Project Location Recognition Launch Q2 2017 Total as at 30 Jun 2017 Expected
completion date Sold
units sup1
Sold unit sales
value (AEDm)
sup1
Sold
units sup1
Sold unit
sales value
(AEDm) sup1
Units
launched
sold Revenue
recognition
Revenue
recognised
Revenue
backlog
Ansam Yas Island Over-time 2014 2 5 506 845 547 93 80 676 168 2017
Hadeel Al Raha Beach Over-time 2014 - - 214 426 233 92 82 349 77 2017
Nareel Abu Dhabi Island Over-time 2015 - - 86 1097 148 58 72 785 312 2017
Merief Khalifa City Over-time 2015 - - 281 609 281 100 26 161 448 2018
Meera Shams Abu Dhabi Over-time 2015 - - 371 461 408 91 47 216 246 2018
Mayan Yas Island Over-time 2015 8 17 411 739 512 80 0 - 739 2019
Yas AcresYas Island Over-time 2016 11 46 432 1605 652 66 4 70 1535 2020
The
Bridges Shams Abu Dhabi Over-time 2017 556 562 556 562 636 87 0 - 562 2020
Aldar developments 577 630 2857 6344 3417 84 2257 4087
West Yas Yas Island na 2015 31 141 598 2674 1017 59 2018
Total developments 608 771 3455 9018 4434 78
FINANCIAL STATEMENTS ndash PROFIT AND LOSS
19
NB
Q2 2016 included a
significant Shams land
transaction (Revenue
AED 524 million and
gross profit of AED
196 million)
Q-o-Q Y-o-Y
AED millions Q2 2017 Q2 20162017
YTD
2016
YTD
Revenues 1354 1696 2932 2928
Direct costs (812) (1003) (1637) (1694)
Gross profit 542 693 1295 1234
Gross profit Margin 40 41 44 42
SGampA expenses (94) (90) (180) (192)
Depreciation and Amortization (48) (52) (98) (101)
Gain on disposals - 1 - 15
Share of profit from associates JVs 12 16 28 34
Other Income 289 172 372 426
Finance expense (62) (59) (123) (118)
Finance income 27 30 59 58
Fair value gains (losses) provision reversal
for impairments(45) (56) (92) (49)
Net Profit for the period 620 654 1261 1308
Attributable to
Owners of the Company 620 657 1256 1306
Non-controlling interests - (3) 5 2
Profit for the period 620 654 1261 1308
Basic and diluted earnings per share (fils) 79 84 160 166
FINANCIAL STATEMENTS ndash BALANCE SHEET
20
Q-o-Q Y-o-Y
AED millions As at
30 Jun 2017
As at
31 Mar 2017
As at
31 Dec 2016
As at
31 Dec 2015
Property plant and equipment 2909 2951 2986 2936
Investment properties 15829 15770 15773 15570
Development work in progress 1470 1391 1298 2745
Inventory 2512 2519 2449 2030
Receivables 5279 5057 5263 5535
Cash 5944 6975 6696 6260
Other Assets 1084 1084 1096 1065
Total Assets 35029 35747 35561 36141
Equity 22455 21865 22086 20288
Debt 5495 5519 5564 5947
Payables Advances and Other Liabilities 7079 8363 7911 9906
Total Liabilities and Equity 35029 35747 35561 36141
sup1 Recurring revenues assets include Investment Properties Hospitality amp Leisure Operative Villages Schools (Aldar Academies) and Property amp Facilities Management (PFM) (Khidmah)
Q2 2017 recurring revenues excludes Pivot revenue of AED217m (Q2 2016 revenue AED179m Q1 2017 revenue AED262m)
Q2 2017 recurring revenues gross profit excludes Pivot gross loss of AED1m (Q2 2016 gross loss AED19m Q1 2017 gross profit AED5m)
Q2 2017 recurring revenues gross profit of AED 357 million (Q2 2016 AED381 million Q1 2017 AED 402 million) sup1
21
419
101
5
360
41
429 425
112
28
320
27
783
429
131
4
419
60
534
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
Q2 2017 Segmental Revenue Performance
Q2 2017 Q2 2016 Q1 2017
AE
D M
illio
ns
Q2 2017 recurring revenues of AED 666 million (Q2 2016 AED 706 million Q1 2017 AED 723 million) sup1
(1)
QUARTERLY SEGMENTAL ANALYSIS
Q2 2016 property development revenue
includes AED 524 million Shams land sale
338
6 5 7 32
154
349
11 4 21
309 355
29 4 19
58
289
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
Q2 2017 Segmental Gross Profit Performance
Q2 2017 Q2 2016 Q1 2017
AE
D M
illio
ns
Q2 2016 property development gross profit
includes AED 196 million Shams land sale
sup1 Recurring revenues assets include Investment Properties Hospitality amp Leisure Operative Villages Schools (Aldar Academies) and Property amp Facilities Management (PFM) (Khidmah)
H1 2017 recurring revenues excludes Pivot revenue of AED479m (H1 2016 revenue AED347m)
H1 2017 recurring revenue gross profit excludes Pivot gross profit of AED3m (H1 2016 gross loss AED11m) 22
848
232 9
779
101
963 866
258 66
611
64
1063
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
2017 YTD Segmental Revenue Performance
2017 YTD 2016 YTD
AE
D M
illio
ns
H1 2017 recurring revenues of AED 1389 million (H1 2016 AED 1455 million) sup1
693
34 9 26 90
443
705
47 14 22 53
394
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
2017 YTD Segmental Gross Profit Performance
2017 YTD 2016 YTD
AE
D M
illio
ns
H1 2017 recurring revenues gross profit of AED 759 million (H1 2016 AED 799 million) sup1
HALF YEARLY SEGMENTAL ANALYSIS
23
sup1 Al Raha Beach land plot handed over in Q3 2016
sup2 Cash flow timing depends on handover of related assets
sup3 On-balance sheet infrastructure recoverables outstanding as at 30 Jun 17
⁴ Additional infrastructure reimbursement submissions made to Government of Abu Dhabi subject to approval
Remaining cash inflows Remaining
PampL events
Transaction (AEDm) H2 2017 2018 Total Other income
Sale of F1 Race Track 348 - 348 -
Sale of Al Raha Beach Land sup1 190 475 665 -
Shams Infrastructure Reimbursement sup2 300 - 300 300
838 475 1313 300
Infrastructure recoverables na na 500sup3-800 300⁴
1813-2113 600
GOVERNMENT TRANSACTIONS
THANK YOU
Now follow us on
DISCLAIMER
2
This disclaimer governs the use of this presentation You must not rely on the information in the presentations and
alternatively we recommend you to seek advice from an appropriately qualified professional If you have any
specific questions about any matter in this presentation you should consult an appropriately qualified
professional
The statements made in this presentation are only forward thinking statements Such statements are based on
expectations and are subject to a number of risks and uncertainties that could differ materially from any expected
outcome or results expressed or implied in these statements
Without prejudice to the generality of the foregoing paragraph we do not represent warrant undertake or
guarantee that the information in the presentation is accurate or use of guidance in the presentation will lead to
any particular outcome or result
We will not be liable to you in respect of any business losses including without limitation loss of or damage to
profits income revenue use production anticipated savings business contracts commercial opportunities
reputation or goodwill
Q2 2017 AT A GLANCE
3
Development Management
bull Successful launch of The Bridges ndash sold out
bull AED 813 million development sales value during quarter
Asset Management
bull Resilient asset performance ndash AED 357 million recurring revenue gross profit
New announcements
bull AED 1 billion project award ndash part of new AED 12 billion Yas Island project
bull Aldar Academies ndash appointed to operate four ADNOC schools across Abu
Dhabi
Financial
bull Revenue of AED 14 billion (Q2 2016 AED 17 billion)
bull Gross profit of AED 542 million (Q2 2016 AED 693 million)
bull Net profit of AED 620 million (Q2 2016 AED 654 million)
DEVELOPMENT MANAGEMENT
Talal Al Dhiyebi Chief Development Officer
Q2 2017 DEVELOPMENT HIGHLIGHTS
5
Sales activity
bull Launch of The Bridges during the quarter sold out in three weeks
bull Q2 development sales value of AED 813 million across 616 units driven by The Bridges West Yas and other
developments (H1 2017 AED 18 billion development sales value)
bull 84 sold across all Aldar units launched as at 30 June 2017
Contract awards
bull AED 22 billion main contract awards across Yas Acres and Mayan during first half of 2017
Development management
bull Key projects on track West Yas to commence handovers from Q1 2018
bull Aldar awarded AED 1 billion contract to develop the new twofour54 media free-zone on Yas Island
Q2 2017 DEVELOPMENT PROGRESS
6
Ansam
bull Entering final stages of construction
bull On track for a phased handover to conclude by year-
end
Al Hadeel
bull Entering final stages of construction
bull Handovers to commence from Q4 2017
Nareel Island
bull Entering final stages of construction
bull Land plots on track for completion from Q4 2017
Al Merief
bull Earthworks substantially completed
bull On track for Q1 2018 handover
Ansam progress as at Jun 2017
Al Hadeel progress as at Jun 2017
Q2 2017 DEVELOPMENT PROGRESS
7
Meera
bull Construction well under way
bull Casting works on track ndash reached 20th floor
Mayan
bull Early works complete
bull Main contract awarded and mobilized on-site
Yas Acres
bull Early works complete
bull Main contract awarded and contractor mobilized on-site
West Yas
bull Infrastructure and non-residential work substantially
complete
bull Majority of villas structurally complete
Meera progress as at Jun 2017
West Yas progress as at Jun 2017
SUCCESSFUL LAUNCH OF THE BRIDGES
8
bull Successful launch and sale of The Bridges ndash first three towers sold out in 3 weeks
bull Underserviced segment of the market ndash high-quality mid-market residential
bull Development strategy to focus on mid-market opportunities in near term
DESTINATION YAS ISLAND
9
New development announcements
bull During the quarter AED 12 billion Yas South development
announcement by Government of Abu Dhabi
bull Aldar awarded contract to develop new AED 1 billion
first phase of twofour54 media and entertainment free-
zone that will relocate close to 5000 workers onto Yas
island
Existing and ongoing investment
bull Warner Bros and Sea World projects currently under
development ndash Warner Bros set for completion in 2018
bull 3000 residential units currently under construction between
Ansam Mayan Yas Acres and West Yas that will increase
local population by c10000 people by end of 2020
bull New midfield terminal will support tourism growth from 2019
Schematic images of Yas Bay part of Yas South development
ASSET MANAGEMENT
Jassem Busaibe Chief Asset Management Officer
Q2 2017 ASSET MANAGEMENT HIGHLIGHTS
11
Residential
bull Occupancy maintained at 90
bull Bulk lease demand
Retail
bull Yas Mall 94 trading occupancy
bull First renewals process underway
bull Successful Eid Al Fitr sales event ndash 250000 visitors to Yas Mall over 24 hour period
Office
bull Occupancy stands at 92 as at 30 June 2017
Hotels
bull 78 occupancy YTD (2016 YTD 76) versus wider Abu Dhabi market at 70 sup1
sup1 Source ADTCA June 2017 YTD hospitality sector occupancy
INVESTMENT PLAN FULLY COMMITTED
12
26
2327
12
11
Diverse investment across all key asset classes
Hotels Retail Residential Office Schools
bull AED 3 billion investment plan fully committed
bull To produce a stabilized AED 300 million NOI
bull Continue to monitor opportunities in the market
Daman House acquired in Dec 2015
Al Jimi Mall extension and renovation
FINANCIAL HIGHLIGHTS
Greg Fewer Chief Financial Officer
Q2 2017 FINANCIAL HIGHLIGHTS ndash INCOME STATEMENT
14
Key highlights
bull Excluding significant land transaction in Q2 2016 underlying revenue and gross profit growth driven by
bull increased revenue recognition on off-plan property development ndash property development revenue
recognition up 64 to AED 429 million
bull modest decrease in recurring revenues ndash defensive qualities of investment property portfolio saw gross
profit fall by only 3 year-on-year
bull Other income supported by infrastructure recoverable writebacks during the quarter
bull Additional submissions for infrastructure reimbursements ndash AED 300-600 million left to be recognize
Q2 2017 FINANCIAL HIGHLIGHTS ndash BALANCE SHEET
15
Strong cash position
bull AED 59 billion gross cash including AED 13 billion in restricted and AED 09 billion escrow accounts
respectively
Prudent debt position
bull AED 55 billion gross debt at 30 June 2017
bull Next debt maturity in December 2018 - $750 million sukuk
Government receivables
bull Remaining AED 13 billion to receive over H2 2017-2018 ndash AED 95 million collected during the quarter
bull Further AED 300 million on-balance sheet infrastructure receivables as at 30 Jun 2017
bull Additional infrastructure submissions could lead to further receivables
SUMMARY
16
Development Management
bull Strong activity on the ground
bull Success of The Bridges ndash focus around high-quality mid-market
bull Destination Yas Island ndash new investments underway
bull 1500 unit guidance remains
Asset Management
bull Resilient operational performance remain well positioned in all key sectors
bull Maintain AED 16 billion NOI guidance ndash Q4 hospitality performance key
Financial
bull Strong balance sheet position
APPENDIX
Now follow us on
18
sup1 Sold units and sold units sales value includes all units where a sales purchase agreement (ldquocontractrdquo) has been signed This does not include sales reservations and pending sales contracts Total units and values as at period end are net of fully cancellations
DEVELOPMENT SUMMARY TABLE ndash 30 JUN 17
Project Location Recognition Launch Q2 2017 Total as at 30 Jun 2017 Expected
completion date Sold
units sup1
Sold unit sales
value (AEDm)
sup1
Sold
units sup1
Sold unit
sales value
(AEDm) sup1
Units
launched
sold Revenue
recognition
Revenue
recognised
Revenue
backlog
Ansam Yas Island Over-time 2014 2 5 506 845 547 93 80 676 168 2017
Hadeel Al Raha Beach Over-time 2014 - - 214 426 233 92 82 349 77 2017
Nareel Abu Dhabi Island Over-time 2015 - - 86 1097 148 58 72 785 312 2017
Merief Khalifa City Over-time 2015 - - 281 609 281 100 26 161 448 2018
Meera Shams Abu Dhabi Over-time 2015 - - 371 461 408 91 47 216 246 2018
Mayan Yas Island Over-time 2015 8 17 411 739 512 80 0 - 739 2019
Yas AcresYas Island Over-time 2016 11 46 432 1605 652 66 4 70 1535 2020
The
Bridges Shams Abu Dhabi Over-time 2017 556 562 556 562 636 87 0 - 562 2020
Aldar developments 577 630 2857 6344 3417 84 2257 4087
West Yas Yas Island na 2015 31 141 598 2674 1017 59 2018
Total developments 608 771 3455 9018 4434 78
FINANCIAL STATEMENTS ndash PROFIT AND LOSS
19
NB
Q2 2016 included a
significant Shams land
transaction (Revenue
AED 524 million and
gross profit of AED
196 million)
Q-o-Q Y-o-Y
AED millions Q2 2017 Q2 20162017
YTD
2016
YTD
Revenues 1354 1696 2932 2928
Direct costs (812) (1003) (1637) (1694)
Gross profit 542 693 1295 1234
Gross profit Margin 40 41 44 42
SGampA expenses (94) (90) (180) (192)
Depreciation and Amortization (48) (52) (98) (101)
Gain on disposals - 1 - 15
Share of profit from associates JVs 12 16 28 34
Other Income 289 172 372 426
Finance expense (62) (59) (123) (118)
Finance income 27 30 59 58
Fair value gains (losses) provision reversal
for impairments(45) (56) (92) (49)
Net Profit for the period 620 654 1261 1308
Attributable to
Owners of the Company 620 657 1256 1306
Non-controlling interests - (3) 5 2
Profit for the period 620 654 1261 1308
Basic and diluted earnings per share (fils) 79 84 160 166
FINANCIAL STATEMENTS ndash BALANCE SHEET
20
Q-o-Q Y-o-Y
AED millions As at
30 Jun 2017
As at
31 Mar 2017
As at
31 Dec 2016
As at
31 Dec 2015
Property plant and equipment 2909 2951 2986 2936
Investment properties 15829 15770 15773 15570
Development work in progress 1470 1391 1298 2745
Inventory 2512 2519 2449 2030
Receivables 5279 5057 5263 5535
Cash 5944 6975 6696 6260
Other Assets 1084 1084 1096 1065
Total Assets 35029 35747 35561 36141
Equity 22455 21865 22086 20288
Debt 5495 5519 5564 5947
Payables Advances and Other Liabilities 7079 8363 7911 9906
Total Liabilities and Equity 35029 35747 35561 36141
sup1 Recurring revenues assets include Investment Properties Hospitality amp Leisure Operative Villages Schools (Aldar Academies) and Property amp Facilities Management (PFM) (Khidmah)
Q2 2017 recurring revenues excludes Pivot revenue of AED217m (Q2 2016 revenue AED179m Q1 2017 revenue AED262m)
Q2 2017 recurring revenues gross profit excludes Pivot gross loss of AED1m (Q2 2016 gross loss AED19m Q1 2017 gross profit AED5m)
Q2 2017 recurring revenues gross profit of AED 357 million (Q2 2016 AED381 million Q1 2017 AED 402 million) sup1
21
419
101
5
360
41
429 425
112
28
320
27
783
429
131
4
419
60
534
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
Q2 2017 Segmental Revenue Performance
Q2 2017 Q2 2016 Q1 2017
AE
D M
illio
ns
Q2 2017 recurring revenues of AED 666 million (Q2 2016 AED 706 million Q1 2017 AED 723 million) sup1
(1)
QUARTERLY SEGMENTAL ANALYSIS
Q2 2016 property development revenue
includes AED 524 million Shams land sale
338
6 5 7 32
154
349
11 4 21
309 355
29 4 19
58
289
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
Q2 2017 Segmental Gross Profit Performance
Q2 2017 Q2 2016 Q1 2017
AE
D M
illio
ns
Q2 2016 property development gross profit
includes AED 196 million Shams land sale
sup1 Recurring revenues assets include Investment Properties Hospitality amp Leisure Operative Villages Schools (Aldar Academies) and Property amp Facilities Management (PFM) (Khidmah)
H1 2017 recurring revenues excludes Pivot revenue of AED479m (H1 2016 revenue AED347m)
H1 2017 recurring revenue gross profit excludes Pivot gross profit of AED3m (H1 2016 gross loss AED11m) 22
848
232 9
779
101
963 866
258 66
611
64
1063
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
2017 YTD Segmental Revenue Performance
2017 YTD 2016 YTD
AE
D M
illio
ns
H1 2017 recurring revenues of AED 1389 million (H1 2016 AED 1455 million) sup1
693
34 9 26 90
443
705
47 14 22 53
394
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
2017 YTD Segmental Gross Profit Performance
2017 YTD 2016 YTD
AE
D M
illio
ns
H1 2017 recurring revenues gross profit of AED 759 million (H1 2016 AED 799 million) sup1
HALF YEARLY SEGMENTAL ANALYSIS
23
sup1 Al Raha Beach land plot handed over in Q3 2016
sup2 Cash flow timing depends on handover of related assets
sup3 On-balance sheet infrastructure recoverables outstanding as at 30 Jun 17
⁴ Additional infrastructure reimbursement submissions made to Government of Abu Dhabi subject to approval
Remaining cash inflows Remaining
PampL events
Transaction (AEDm) H2 2017 2018 Total Other income
Sale of F1 Race Track 348 - 348 -
Sale of Al Raha Beach Land sup1 190 475 665 -
Shams Infrastructure Reimbursement sup2 300 - 300 300
838 475 1313 300
Infrastructure recoverables na na 500sup3-800 300⁴
1813-2113 600
GOVERNMENT TRANSACTIONS
THANK YOU
Now follow us on
Q2 2017 AT A GLANCE
3
Development Management
bull Successful launch of The Bridges ndash sold out
bull AED 813 million development sales value during quarter
Asset Management
bull Resilient asset performance ndash AED 357 million recurring revenue gross profit
New announcements
bull AED 1 billion project award ndash part of new AED 12 billion Yas Island project
bull Aldar Academies ndash appointed to operate four ADNOC schools across Abu
Dhabi
Financial
bull Revenue of AED 14 billion (Q2 2016 AED 17 billion)
bull Gross profit of AED 542 million (Q2 2016 AED 693 million)
bull Net profit of AED 620 million (Q2 2016 AED 654 million)
DEVELOPMENT MANAGEMENT
Talal Al Dhiyebi Chief Development Officer
Q2 2017 DEVELOPMENT HIGHLIGHTS
5
Sales activity
bull Launch of The Bridges during the quarter sold out in three weeks
bull Q2 development sales value of AED 813 million across 616 units driven by The Bridges West Yas and other
developments (H1 2017 AED 18 billion development sales value)
bull 84 sold across all Aldar units launched as at 30 June 2017
Contract awards
bull AED 22 billion main contract awards across Yas Acres and Mayan during first half of 2017
Development management
bull Key projects on track West Yas to commence handovers from Q1 2018
bull Aldar awarded AED 1 billion contract to develop the new twofour54 media free-zone on Yas Island
Q2 2017 DEVELOPMENT PROGRESS
6
Ansam
bull Entering final stages of construction
bull On track for a phased handover to conclude by year-
end
Al Hadeel
bull Entering final stages of construction
bull Handovers to commence from Q4 2017
Nareel Island
bull Entering final stages of construction
bull Land plots on track for completion from Q4 2017
Al Merief
bull Earthworks substantially completed
bull On track for Q1 2018 handover
Ansam progress as at Jun 2017
Al Hadeel progress as at Jun 2017
Q2 2017 DEVELOPMENT PROGRESS
7
Meera
bull Construction well under way
bull Casting works on track ndash reached 20th floor
Mayan
bull Early works complete
bull Main contract awarded and mobilized on-site
Yas Acres
bull Early works complete
bull Main contract awarded and contractor mobilized on-site
West Yas
bull Infrastructure and non-residential work substantially
complete
bull Majority of villas structurally complete
Meera progress as at Jun 2017
West Yas progress as at Jun 2017
SUCCESSFUL LAUNCH OF THE BRIDGES
8
bull Successful launch and sale of The Bridges ndash first three towers sold out in 3 weeks
bull Underserviced segment of the market ndash high-quality mid-market residential
bull Development strategy to focus on mid-market opportunities in near term
DESTINATION YAS ISLAND
9
New development announcements
bull During the quarter AED 12 billion Yas South development
announcement by Government of Abu Dhabi
bull Aldar awarded contract to develop new AED 1 billion
first phase of twofour54 media and entertainment free-
zone that will relocate close to 5000 workers onto Yas
island
Existing and ongoing investment
bull Warner Bros and Sea World projects currently under
development ndash Warner Bros set for completion in 2018
bull 3000 residential units currently under construction between
Ansam Mayan Yas Acres and West Yas that will increase
local population by c10000 people by end of 2020
bull New midfield terminal will support tourism growth from 2019
Schematic images of Yas Bay part of Yas South development
ASSET MANAGEMENT
Jassem Busaibe Chief Asset Management Officer
Q2 2017 ASSET MANAGEMENT HIGHLIGHTS
11
Residential
bull Occupancy maintained at 90
bull Bulk lease demand
Retail
bull Yas Mall 94 trading occupancy
bull First renewals process underway
bull Successful Eid Al Fitr sales event ndash 250000 visitors to Yas Mall over 24 hour period
Office
bull Occupancy stands at 92 as at 30 June 2017
Hotels
bull 78 occupancy YTD (2016 YTD 76) versus wider Abu Dhabi market at 70 sup1
sup1 Source ADTCA June 2017 YTD hospitality sector occupancy
INVESTMENT PLAN FULLY COMMITTED
12
26
2327
12
11
Diverse investment across all key asset classes
Hotels Retail Residential Office Schools
bull AED 3 billion investment plan fully committed
bull To produce a stabilized AED 300 million NOI
bull Continue to monitor opportunities in the market
Daman House acquired in Dec 2015
Al Jimi Mall extension and renovation
FINANCIAL HIGHLIGHTS
Greg Fewer Chief Financial Officer
Q2 2017 FINANCIAL HIGHLIGHTS ndash INCOME STATEMENT
14
Key highlights
bull Excluding significant land transaction in Q2 2016 underlying revenue and gross profit growth driven by
bull increased revenue recognition on off-plan property development ndash property development revenue
recognition up 64 to AED 429 million
bull modest decrease in recurring revenues ndash defensive qualities of investment property portfolio saw gross
profit fall by only 3 year-on-year
bull Other income supported by infrastructure recoverable writebacks during the quarter
bull Additional submissions for infrastructure reimbursements ndash AED 300-600 million left to be recognize
Q2 2017 FINANCIAL HIGHLIGHTS ndash BALANCE SHEET
15
Strong cash position
bull AED 59 billion gross cash including AED 13 billion in restricted and AED 09 billion escrow accounts
respectively
Prudent debt position
bull AED 55 billion gross debt at 30 June 2017
bull Next debt maturity in December 2018 - $750 million sukuk
Government receivables
bull Remaining AED 13 billion to receive over H2 2017-2018 ndash AED 95 million collected during the quarter
bull Further AED 300 million on-balance sheet infrastructure receivables as at 30 Jun 2017
bull Additional infrastructure submissions could lead to further receivables
SUMMARY
16
Development Management
bull Strong activity on the ground
bull Success of The Bridges ndash focus around high-quality mid-market
bull Destination Yas Island ndash new investments underway
bull 1500 unit guidance remains
Asset Management
bull Resilient operational performance remain well positioned in all key sectors
bull Maintain AED 16 billion NOI guidance ndash Q4 hospitality performance key
Financial
bull Strong balance sheet position
APPENDIX
Now follow us on
18
sup1 Sold units and sold units sales value includes all units where a sales purchase agreement (ldquocontractrdquo) has been signed This does not include sales reservations and pending sales contracts Total units and values as at period end are net of fully cancellations
DEVELOPMENT SUMMARY TABLE ndash 30 JUN 17
Project Location Recognition Launch Q2 2017 Total as at 30 Jun 2017 Expected
completion date Sold
units sup1
Sold unit sales
value (AEDm)
sup1
Sold
units sup1
Sold unit
sales value
(AEDm) sup1
Units
launched
sold Revenue
recognition
Revenue
recognised
Revenue
backlog
Ansam Yas Island Over-time 2014 2 5 506 845 547 93 80 676 168 2017
Hadeel Al Raha Beach Over-time 2014 - - 214 426 233 92 82 349 77 2017
Nareel Abu Dhabi Island Over-time 2015 - - 86 1097 148 58 72 785 312 2017
Merief Khalifa City Over-time 2015 - - 281 609 281 100 26 161 448 2018
Meera Shams Abu Dhabi Over-time 2015 - - 371 461 408 91 47 216 246 2018
Mayan Yas Island Over-time 2015 8 17 411 739 512 80 0 - 739 2019
Yas AcresYas Island Over-time 2016 11 46 432 1605 652 66 4 70 1535 2020
The
Bridges Shams Abu Dhabi Over-time 2017 556 562 556 562 636 87 0 - 562 2020
Aldar developments 577 630 2857 6344 3417 84 2257 4087
West Yas Yas Island na 2015 31 141 598 2674 1017 59 2018
Total developments 608 771 3455 9018 4434 78
FINANCIAL STATEMENTS ndash PROFIT AND LOSS
19
NB
Q2 2016 included a
significant Shams land
transaction (Revenue
AED 524 million and
gross profit of AED
196 million)
Q-o-Q Y-o-Y
AED millions Q2 2017 Q2 20162017
YTD
2016
YTD
Revenues 1354 1696 2932 2928
Direct costs (812) (1003) (1637) (1694)
Gross profit 542 693 1295 1234
Gross profit Margin 40 41 44 42
SGampA expenses (94) (90) (180) (192)
Depreciation and Amortization (48) (52) (98) (101)
Gain on disposals - 1 - 15
Share of profit from associates JVs 12 16 28 34
Other Income 289 172 372 426
Finance expense (62) (59) (123) (118)
Finance income 27 30 59 58
Fair value gains (losses) provision reversal
for impairments(45) (56) (92) (49)
Net Profit for the period 620 654 1261 1308
Attributable to
Owners of the Company 620 657 1256 1306
Non-controlling interests - (3) 5 2
Profit for the period 620 654 1261 1308
Basic and diluted earnings per share (fils) 79 84 160 166
FINANCIAL STATEMENTS ndash BALANCE SHEET
20
Q-o-Q Y-o-Y
AED millions As at
30 Jun 2017
As at
31 Mar 2017
As at
31 Dec 2016
As at
31 Dec 2015
Property plant and equipment 2909 2951 2986 2936
Investment properties 15829 15770 15773 15570
Development work in progress 1470 1391 1298 2745
Inventory 2512 2519 2449 2030
Receivables 5279 5057 5263 5535
Cash 5944 6975 6696 6260
Other Assets 1084 1084 1096 1065
Total Assets 35029 35747 35561 36141
Equity 22455 21865 22086 20288
Debt 5495 5519 5564 5947
Payables Advances and Other Liabilities 7079 8363 7911 9906
Total Liabilities and Equity 35029 35747 35561 36141
sup1 Recurring revenues assets include Investment Properties Hospitality amp Leisure Operative Villages Schools (Aldar Academies) and Property amp Facilities Management (PFM) (Khidmah)
Q2 2017 recurring revenues excludes Pivot revenue of AED217m (Q2 2016 revenue AED179m Q1 2017 revenue AED262m)
Q2 2017 recurring revenues gross profit excludes Pivot gross loss of AED1m (Q2 2016 gross loss AED19m Q1 2017 gross profit AED5m)
Q2 2017 recurring revenues gross profit of AED 357 million (Q2 2016 AED381 million Q1 2017 AED 402 million) sup1
21
419
101
5
360
41
429 425
112
28
320
27
783
429
131
4
419
60
534
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
Q2 2017 Segmental Revenue Performance
Q2 2017 Q2 2016 Q1 2017
AE
D M
illio
ns
Q2 2017 recurring revenues of AED 666 million (Q2 2016 AED 706 million Q1 2017 AED 723 million) sup1
(1)
QUARTERLY SEGMENTAL ANALYSIS
Q2 2016 property development revenue
includes AED 524 million Shams land sale
338
6 5 7 32
154
349
11 4 21
309 355
29 4 19
58
289
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
Q2 2017 Segmental Gross Profit Performance
Q2 2017 Q2 2016 Q1 2017
AE
D M
illio
ns
Q2 2016 property development gross profit
includes AED 196 million Shams land sale
sup1 Recurring revenues assets include Investment Properties Hospitality amp Leisure Operative Villages Schools (Aldar Academies) and Property amp Facilities Management (PFM) (Khidmah)
H1 2017 recurring revenues excludes Pivot revenue of AED479m (H1 2016 revenue AED347m)
H1 2017 recurring revenue gross profit excludes Pivot gross profit of AED3m (H1 2016 gross loss AED11m) 22
848
232 9
779
101
963 866
258 66
611
64
1063
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
2017 YTD Segmental Revenue Performance
2017 YTD 2016 YTD
AE
D M
illio
ns
H1 2017 recurring revenues of AED 1389 million (H1 2016 AED 1455 million) sup1
693
34 9 26 90
443
705
47 14 22 53
394
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
2017 YTD Segmental Gross Profit Performance
2017 YTD 2016 YTD
AE
D M
illio
ns
H1 2017 recurring revenues gross profit of AED 759 million (H1 2016 AED 799 million) sup1
HALF YEARLY SEGMENTAL ANALYSIS
23
sup1 Al Raha Beach land plot handed over in Q3 2016
sup2 Cash flow timing depends on handover of related assets
sup3 On-balance sheet infrastructure recoverables outstanding as at 30 Jun 17
⁴ Additional infrastructure reimbursement submissions made to Government of Abu Dhabi subject to approval
Remaining cash inflows Remaining
PampL events
Transaction (AEDm) H2 2017 2018 Total Other income
Sale of F1 Race Track 348 - 348 -
Sale of Al Raha Beach Land sup1 190 475 665 -
Shams Infrastructure Reimbursement sup2 300 - 300 300
838 475 1313 300
Infrastructure recoverables na na 500sup3-800 300⁴
1813-2113 600
GOVERNMENT TRANSACTIONS
THANK YOU
Now follow us on
DEVELOPMENT MANAGEMENT
Talal Al Dhiyebi Chief Development Officer
Q2 2017 DEVELOPMENT HIGHLIGHTS
5
Sales activity
bull Launch of The Bridges during the quarter sold out in three weeks
bull Q2 development sales value of AED 813 million across 616 units driven by The Bridges West Yas and other
developments (H1 2017 AED 18 billion development sales value)
bull 84 sold across all Aldar units launched as at 30 June 2017
Contract awards
bull AED 22 billion main contract awards across Yas Acres and Mayan during first half of 2017
Development management
bull Key projects on track West Yas to commence handovers from Q1 2018
bull Aldar awarded AED 1 billion contract to develop the new twofour54 media free-zone on Yas Island
Q2 2017 DEVELOPMENT PROGRESS
6
Ansam
bull Entering final stages of construction
bull On track for a phased handover to conclude by year-
end
Al Hadeel
bull Entering final stages of construction
bull Handovers to commence from Q4 2017
Nareel Island
bull Entering final stages of construction
bull Land plots on track for completion from Q4 2017
Al Merief
bull Earthworks substantially completed
bull On track for Q1 2018 handover
Ansam progress as at Jun 2017
Al Hadeel progress as at Jun 2017
Q2 2017 DEVELOPMENT PROGRESS
7
Meera
bull Construction well under way
bull Casting works on track ndash reached 20th floor
Mayan
bull Early works complete
bull Main contract awarded and mobilized on-site
Yas Acres
bull Early works complete
bull Main contract awarded and contractor mobilized on-site
West Yas
bull Infrastructure and non-residential work substantially
complete
bull Majority of villas structurally complete
Meera progress as at Jun 2017
West Yas progress as at Jun 2017
SUCCESSFUL LAUNCH OF THE BRIDGES
8
bull Successful launch and sale of The Bridges ndash first three towers sold out in 3 weeks
bull Underserviced segment of the market ndash high-quality mid-market residential
bull Development strategy to focus on mid-market opportunities in near term
DESTINATION YAS ISLAND
9
New development announcements
bull During the quarter AED 12 billion Yas South development
announcement by Government of Abu Dhabi
bull Aldar awarded contract to develop new AED 1 billion
first phase of twofour54 media and entertainment free-
zone that will relocate close to 5000 workers onto Yas
island
Existing and ongoing investment
bull Warner Bros and Sea World projects currently under
development ndash Warner Bros set for completion in 2018
bull 3000 residential units currently under construction between
Ansam Mayan Yas Acres and West Yas that will increase
local population by c10000 people by end of 2020
bull New midfield terminal will support tourism growth from 2019
Schematic images of Yas Bay part of Yas South development
ASSET MANAGEMENT
Jassem Busaibe Chief Asset Management Officer
Q2 2017 ASSET MANAGEMENT HIGHLIGHTS
11
Residential
bull Occupancy maintained at 90
bull Bulk lease demand
Retail
bull Yas Mall 94 trading occupancy
bull First renewals process underway
bull Successful Eid Al Fitr sales event ndash 250000 visitors to Yas Mall over 24 hour period
Office
bull Occupancy stands at 92 as at 30 June 2017
Hotels
bull 78 occupancy YTD (2016 YTD 76) versus wider Abu Dhabi market at 70 sup1
sup1 Source ADTCA June 2017 YTD hospitality sector occupancy
INVESTMENT PLAN FULLY COMMITTED
12
26
2327
12
11
Diverse investment across all key asset classes
Hotels Retail Residential Office Schools
bull AED 3 billion investment plan fully committed
bull To produce a stabilized AED 300 million NOI
bull Continue to monitor opportunities in the market
Daman House acquired in Dec 2015
Al Jimi Mall extension and renovation
FINANCIAL HIGHLIGHTS
Greg Fewer Chief Financial Officer
Q2 2017 FINANCIAL HIGHLIGHTS ndash INCOME STATEMENT
14
Key highlights
bull Excluding significant land transaction in Q2 2016 underlying revenue and gross profit growth driven by
bull increased revenue recognition on off-plan property development ndash property development revenue
recognition up 64 to AED 429 million
bull modest decrease in recurring revenues ndash defensive qualities of investment property portfolio saw gross
profit fall by only 3 year-on-year
bull Other income supported by infrastructure recoverable writebacks during the quarter
bull Additional submissions for infrastructure reimbursements ndash AED 300-600 million left to be recognize
Q2 2017 FINANCIAL HIGHLIGHTS ndash BALANCE SHEET
15
Strong cash position
bull AED 59 billion gross cash including AED 13 billion in restricted and AED 09 billion escrow accounts
respectively
Prudent debt position
bull AED 55 billion gross debt at 30 June 2017
bull Next debt maturity in December 2018 - $750 million sukuk
Government receivables
bull Remaining AED 13 billion to receive over H2 2017-2018 ndash AED 95 million collected during the quarter
bull Further AED 300 million on-balance sheet infrastructure receivables as at 30 Jun 2017
bull Additional infrastructure submissions could lead to further receivables
SUMMARY
16
Development Management
bull Strong activity on the ground
bull Success of The Bridges ndash focus around high-quality mid-market
bull Destination Yas Island ndash new investments underway
bull 1500 unit guidance remains
Asset Management
bull Resilient operational performance remain well positioned in all key sectors
bull Maintain AED 16 billion NOI guidance ndash Q4 hospitality performance key
Financial
bull Strong balance sheet position
APPENDIX
Now follow us on
18
sup1 Sold units and sold units sales value includes all units where a sales purchase agreement (ldquocontractrdquo) has been signed This does not include sales reservations and pending sales contracts Total units and values as at period end are net of fully cancellations
DEVELOPMENT SUMMARY TABLE ndash 30 JUN 17
Project Location Recognition Launch Q2 2017 Total as at 30 Jun 2017 Expected
completion date Sold
units sup1
Sold unit sales
value (AEDm)
sup1
Sold
units sup1
Sold unit
sales value
(AEDm) sup1
Units
launched
sold Revenue
recognition
Revenue
recognised
Revenue
backlog
Ansam Yas Island Over-time 2014 2 5 506 845 547 93 80 676 168 2017
Hadeel Al Raha Beach Over-time 2014 - - 214 426 233 92 82 349 77 2017
Nareel Abu Dhabi Island Over-time 2015 - - 86 1097 148 58 72 785 312 2017
Merief Khalifa City Over-time 2015 - - 281 609 281 100 26 161 448 2018
Meera Shams Abu Dhabi Over-time 2015 - - 371 461 408 91 47 216 246 2018
Mayan Yas Island Over-time 2015 8 17 411 739 512 80 0 - 739 2019
Yas AcresYas Island Over-time 2016 11 46 432 1605 652 66 4 70 1535 2020
The
Bridges Shams Abu Dhabi Over-time 2017 556 562 556 562 636 87 0 - 562 2020
Aldar developments 577 630 2857 6344 3417 84 2257 4087
West Yas Yas Island na 2015 31 141 598 2674 1017 59 2018
Total developments 608 771 3455 9018 4434 78
FINANCIAL STATEMENTS ndash PROFIT AND LOSS
19
NB
Q2 2016 included a
significant Shams land
transaction (Revenue
AED 524 million and
gross profit of AED
196 million)
Q-o-Q Y-o-Y
AED millions Q2 2017 Q2 20162017
YTD
2016
YTD
Revenues 1354 1696 2932 2928
Direct costs (812) (1003) (1637) (1694)
Gross profit 542 693 1295 1234
Gross profit Margin 40 41 44 42
SGampA expenses (94) (90) (180) (192)
Depreciation and Amortization (48) (52) (98) (101)
Gain on disposals - 1 - 15
Share of profit from associates JVs 12 16 28 34
Other Income 289 172 372 426
Finance expense (62) (59) (123) (118)
Finance income 27 30 59 58
Fair value gains (losses) provision reversal
for impairments(45) (56) (92) (49)
Net Profit for the period 620 654 1261 1308
Attributable to
Owners of the Company 620 657 1256 1306
Non-controlling interests - (3) 5 2
Profit for the period 620 654 1261 1308
Basic and diluted earnings per share (fils) 79 84 160 166
FINANCIAL STATEMENTS ndash BALANCE SHEET
20
Q-o-Q Y-o-Y
AED millions As at
30 Jun 2017
As at
31 Mar 2017
As at
31 Dec 2016
As at
31 Dec 2015
Property plant and equipment 2909 2951 2986 2936
Investment properties 15829 15770 15773 15570
Development work in progress 1470 1391 1298 2745
Inventory 2512 2519 2449 2030
Receivables 5279 5057 5263 5535
Cash 5944 6975 6696 6260
Other Assets 1084 1084 1096 1065
Total Assets 35029 35747 35561 36141
Equity 22455 21865 22086 20288
Debt 5495 5519 5564 5947
Payables Advances and Other Liabilities 7079 8363 7911 9906
Total Liabilities and Equity 35029 35747 35561 36141
sup1 Recurring revenues assets include Investment Properties Hospitality amp Leisure Operative Villages Schools (Aldar Academies) and Property amp Facilities Management (PFM) (Khidmah)
Q2 2017 recurring revenues excludes Pivot revenue of AED217m (Q2 2016 revenue AED179m Q1 2017 revenue AED262m)
Q2 2017 recurring revenues gross profit excludes Pivot gross loss of AED1m (Q2 2016 gross loss AED19m Q1 2017 gross profit AED5m)
Q2 2017 recurring revenues gross profit of AED 357 million (Q2 2016 AED381 million Q1 2017 AED 402 million) sup1
21
419
101
5
360
41
429 425
112
28
320
27
783
429
131
4
419
60
534
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
Q2 2017 Segmental Revenue Performance
Q2 2017 Q2 2016 Q1 2017
AE
D M
illio
ns
Q2 2017 recurring revenues of AED 666 million (Q2 2016 AED 706 million Q1 2017 AED 723 million) sup1
(1)
QUARTERLY SEGMENTAL ANALYSIS
Q2 2016 property development revenue
includes AED 524 million Shams land sale
338
6 5 7 32
154
349
11 4 21
309 355
29 4 19
58
289
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
Q2 2017 Segmental Gross Profit Performance
Q2 2017 Q2 2016 Q1 2017
AE
D M
illio
ns
Q2 2016 property development gross profit
includes AED 196 million Shams land sale
sup1 Recurring revenues assets include Investment Properties Hospitality amp Leisure Operative Villages Schools (Aldar Academies) and Property amp Facilities Management (PFM) (Khidmah)
H1 2017 recurring revenues excludes Pivot revenue of AED479m (H1 2016 revenue AED347m)
H1 2017 recurring revenue gross profit excludes Pivot gross profit of AED3m (H1 2016 gross loss AED11m) 22
848
232 9
779
101
963 866
258 66
611
64
1063
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
2017 YTD Segmental Revenue Performance
2017 YTD 2016 YTD
AE
D M
illio
ns
H1 2017 recurring revenues of AED 1389 million (H1 2016 AED 1455 million) sup1
693
34 9 26 90
443
705
47 14 22 53
394
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
2017 YTD Segmental Gross Profit Performance
2017 YTD 2016 YTD
AE
D M
illio
ns
H1 2017 recurring revenues gross profit of AED 759 million (H1 2016 AED 799 million) sup1
HALF YEARLY SEGMENTAL ANALYSIS
23
sup1 Al Raha Beach land plot handed over in Q3 2016
sup2 Cash flow timing depends on handover of related assets
sup3 On-balance sheet infrastructure recoverables outstanding as at 30 Jun 17
⁴ Additional infrastructure reimbursement submissions made to Government of Abu Dhabi subject to approval
Remaining cash inflows Remaining
PampL events
Transaction (AEDm) H2 2017 2018 Total Other income
Sale of F1 Race Track 348 - 348 -
Sale of Al Raha Beach Land sup1 190 475 665 -
Shams Infrastructure Reimbursement sup2 300 - 300 300
838 475 1313 300
Infrastructure recoverables na na 500sup3-800 300⁴
1813-2113 600
GOVERNMENT TRANSACTIONS
THANK YOU
Now follow us on
Q2 2017 DEVELOPMENT HIGHLIGHTS
5
Sales activity
bull Launch of The Bridges during the quarter sold out in three weeks
bull Q2 development sales value of AED 813 million across 616 units driven by The Bridges West Yas and other
developments (H1 2017 AED 18 billion development sales value)
bull 84 sold across all Aldar units launched as at 30 June 2017
Contract awards
bull AED 22 billion main contract awards across Yas Acres and Mayan during first half of 2017
Development management
bull Key projects on track West Yas to commence handovers from Q1 2018
bull Aldar awarded AED 1 billion contract to develop the new twofour54 media free-zone on Yas Island
Q2 2017 DEVELOPMENT PROGRESS
6
Ansam
bull Entering final stages of construction
bull On track for a phased handover to conclude by year-
end
Al Hadeel
bull Entering final stages of construction
bull Handovers to commence from Q4 2017
Nareel Island
bull Entering final stages of construction
bull Land plots on track for completion from Q4 2017
Al Merief
bull Earthworks substantially completed
bull On track for Q1 2018 handover
Ansam progress as at Jun 2017
Al Hadeel progress as at Jun 2017
Q2 2017 DEVELOPMENT PROGRESS
7
Meera
bull Construction well under way
bull Casting works on track ndash reached 20th floor
Mayan
bull Early works complete
bull Main contract awarded and mobilized on-site
Yas Acres
bull Early works complete
bull Main contract awarded and contractor mobilized on-site
West Yas
bull Infrastructure and non-residential work substantially
complete
bull Majority of villas structurally complete
Meera progress as at Jun 2017
West Yas progress as at Jun 2017
SUCCESSFUL LAUNCH OF THE BRIDGES
8
bull Successful launch and sale of The Bridges ndash first three towers sold out in 3 weeks
bull Underserviced segment of the market ndash high-quality mid-market residential
bull Development strategy to focus on mid-market opportunities in near term
DESTINATION YAS ISLAND
9
New development announcements
bull During the quarter AED 12 billion Yas South development
announcement by Government of Abu Dhabi
bull Aldar awarded contract to develop new AED 1 billion
first phase of twofour54 media and entertainment free-
zone that will relocate close to 5000 workers onto Yas
island
Existing and ongoing investment
bull Warner Bros and Sea World projects currently under
development ndash Warner Bros set for completion in 2018
bull 3000 residential units currently under construction between
Ansam Mayan Yas Acres and West Yas that will increase
local population by c10000 people by end of 2020
bull New midfield terminal will support tourism growth from 2019
Schematic images of Yas Bay part of Yas South development
ASSET MANAGEMENT
Jassem Busaibe Chief Asset Management Officer
Q2 2017 ASSET MANAGEMENT HIGHLIGHTS
11
Residential
bull Occupancy maintained at 90
bull Bulk lease demand
Retail
bull Yas Mall 94 trading occupancy
bull First renewals process underway
bull Successful Eid Al Fitr sales event ndash 250000 visitors to Yas Mall over 24 hour period
Office
bull Occupancy stands at 92 as at 30 June 2017
Hotels
bull 78 occupancy YTD (2016 YTD 76) versus wider Abu Dhabi market at 70 sup1
sup1 Source ADTCA June 2017 YTD hospitality sector occupancy
INVESTMENT PLAN FULLY COMMITTED
12
26
2327
12
11
Diverse investment across all key asset classes
Hotels Retail Residential Office Schools
bull AED 3 billion investment plan fully committed
bull To produce a stabilized AED 300 million NOI
bull Continue to monitor opportunities in the market
Daman House acquired in Dec 2015
Al Jimi Mall extension and renovation
FINANCIAL HIGHLIGHTS
Greg Fewer Chief Financial Officer
Q2 2017 FINANCIAL HIGHLIGHTS ndash INCOME STATEMENT
14
Key highlights
bull Excluding significant land transaction in Q2 2016 underlying revenue and gross profit growth driven by
bull increased revenue recognition on off-plan property development ndash property development revenue
recognition up 64 to AED 429 million
bull modest decrease in recurring revenues ndash defensive qualities of investment property portfolio saw gross
profit fall by only 3 year-on-year
bull Other income supported by infrastructure recoverable writebacks during the quarter
bull Additional submissions for infrastructure reimbursements ndash AED 300-600 million left to be recognize
Q2 2017 FINANCIAL HIGHLIGHTS ndash BALANCE SHEET
15
Strong cash position
bull AED 59 billion gross cash including AED 13 billion in restricted and AED 09 billion escrow accounts
respectively
Prudent debt position
bull AED 55 billion gross debt at 30 June 2017
bull Next debt maturity in December 2018 - $750 million sukuk
Government receivables
bull Remaining AED 13 billion to receive over H2 2017-2018 ndash AED 95 million collected during the quarter
bull Further AED 300 million on-balance sheet infrastructure receivables as at 30 Jun 2017
bull Additional infrastructure submissions could lead to further receivables
SUMMARY
16
Development Management
bull Strong activity on the ground
bull Success of The Bridges ndash focus around high-quality mid-market
bull Destination Yas Island ndash new investments underway
bull 1500 unit guidance remains
Asset Management
bull Resilient operational performance remain well positioned in all key sectors
bull Maintain AED 16 billion NOI guidance ndash Q4 hospitality performance key
Financial
bull Strong balance sheet position
APPENDIX
Now follow us on
18
sup1 Sold units and sold units sales value includes all units where a sales purchase agreement (ldquocontractrdquo) has been signed This does not include sales reservations and pending sales contracts Total units and values as at period end are net of fully cancellations
DEVELOPMENT SUMMARY TABLE ndash 30 JUN 17
Project Location Recognition Launch Q2 2017 Total as at 30 Jun 2017 Expected
completion date Sold
units sup1
Sold unit sales
value (AEDm)
sup1
Sold
units sup1
Sold unit
sales value
(AEDm) sup1
Units
launched
sold Revenue
recognition
Revenue
recognised
Revenue
backlog
Ansam Yas Island Over-time 2014 2 5 506 845 547 93 80 676 168 2017
Hadeel Al Raha Beach Over-time 2014 - - 214 426 233 92 82 349 77 2017
Nareel Abu Dhabi Island Over-time 2015 - - 86 1097 148 58 72 785 312 2017
Merief Khalifa City Over-time 2015 - - 281 609 281 100 26 161 448 2018
Meera Shams Abu Dhabi Over-time 2015 - - 371 461 408 91 47 216 246 2018
Mayan Yas Island Over-time 2015 8 17 411 739 512 80 0 - 739 2019
Yas AcresYas Island Over-time 2016 11 46 432 1605 652 66 4 70 1535 2020
The
Bridges Shams Abu Dhabi Over-time 2017 556 562 556 562 636 87 0 - 562 2020
Aldar developments 577 630 2857 6344 3417 84 2257 4087
West Yas Yas Island na 2015 31 141 598 2674 1017 59 2018
Total developments 608 771 3455 9018 4434 78
FINANCIAL STATEMENTS ndash PROFIT AND LOSS
19
NB
Q2 2016 included a
significant Shams land
transaction (Revenue
AED 524 million and
gross profit of AED
196 million)
Q-o-Q Y-o-Y
AED millions Q2 2017 Q2 20162017
YTD
2016
YTD
Revenues 1354 1696 2932 2928
Direct costs (812) (1003) (1637) (1694)
Gross profit 542 693 1295 1234
Gross profit Margin 40 41 44 42
SGampA expenses (94) (90) (180) (192)
Depreciation and Amortization (48) (52) (98) (101)
Gain on disposals - 1 - 15
Share of profit from associates JVs 12 16 28 34
Other Income 289 172 372 426
Finance expense (62) (59) (123) (118)
Finance income 27 30 59 58
Fair value gains (losses) provision reversal
for impairments(45) (56) (92) (49)
Net Profit for the period 620 654 1261 1308
Attributable to
Owners of the Company 620 657 1256 1306
Non-controlling interests - (3) 5 2
Profit for the period 620 654 1261 1308
Basic and diluted earnings per share (fils) 79 84 160 166
FINANCIAL STATEMENTS ndash BALANCE SHEET
20
Q-o-Q Y-o-Y
AED millions As at
30 Jun 2017
As at
31 Mar 2017
As at
31 Dec 2016
As at
31 Dec 2015
Property plant and equipment 2909 2951 2986 2936
Investment properties 15829 15770 15773 15570
Development work in progress 1470 1391 1298 2745
Inventory 2512 2519 2449 2030
Receivables 5279 5057 5263 5535
Cash 5944 6975 6696 6260
Other Assets 1084 1084 1096 1065
Total Assets 35029 35747 35561 36141
Equity 22455 21865 22086 20288
Debt 5495 5519 5564 5947
Payables Advances and Other Liabilities 7079 8363 7911 9906
Total Liabilities and Equity 35029 35747 35561 36141
sup1 Recurring revenues assets include Investment Properties Hospitality amp Leisure Operative Villages Schools (Aldar Academies) and Property amp Facilities Management (PFM) (Khidmah)
Q2 2017 recurring revenues excludes Pivot revenue of AED217m (Q2 2016 revenue AED179m Q1 2017 revenue AED262m)
Q2 2017 recurring revenues gross profit excludes Pivot gross loss of AED1m (Q2 2016 gross loss AED19m Q1 2017 gross profit AED5m)
Q2 2017 recurring revenues gross profit of AED 357 million (Q2 2016 AED381 million Q1 2017 AED 402 million) sup1
21
419
101
5
360
41
429 425
112
28
320
27
783
429
131
4
419
60
534
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
Q2 2017 Segmental Revenue Performance
Q2 2017 Q2 2016 Q1 2017
AE
D M
illio
ns
Q2 2017 recurring revenues of AED 666 million (Q2 2016 AED 706 million Q1 2017 AED 723 million) sup1
(1)
QUARTERLY SEGMENTAL ANALYSIS
Q2 2016 property development revenue
includes AED 524 million Shams land sale
338
6 5 7 32
154
349
11 4 21
309 355
29 4 19
58
289
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
Q2 2017 Segmental Gross Profit Performance
Q2 2017 Q2 2016 Q1 2017
AE
D M
illio
ns
Q2 2016 property development gross profit
includes AED 196 million Shams land sale
sup1 Recurring revenues assets include Investment Properties Hospitality amp Leisure Operative Villages Schools (Aldar Academies) and Property amp Facilities Management (PFM) (Khidmah)
H1 2017 recurring revenues excludes Pivot revenue of AED479m (H1 2016 revenue AED347m)
H1 2017 recurring revenue gross profit excludes Pivot gross profit of AED3m (H1 2016 gross loss AED11m) 22
848
232 9
779
101
963 866
258 66
611
64
1063
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
2017 YTD Segmental Revenue Performance
2017 YTD 2016 YTD
AE
D M
illio
ns
H1 2017 recurring revenues of AED 1389 million (H1 2016 AED 1455 million) sup1
693
34 9 26 90
443
705
47 14 22 53
394
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
2017 YTD Segmental Gross Profit Performance
2017 YTD 2016 YTD
AE
D M
illio
ns
H1 2017 recurring revenues gross profit of AED 759 million (H1 2016 AED 799 million) sup1
HALF YEARLY SEGMENTAL ANALYSIS
23
sup1 Al Raha Beach land plot handed over in Q3 2016
sup2 Cash flow timing depends on handover of related assets
sup3 On-balance sheet infrastructure recoverables outstanding as at 30 Jun 17
⁴ Additional infrastructure reimbursement submissions made to Government of Abu Dhabi subject to approval
Remaining cash inflows Remaining
PampL events
Transaction (AEDm) H2 2017 2018 Total Other income
Sale of F1 Race Track 348 - 348 -
Sale of Al Raha Beach Land sup1 190 475 665 -
Shams Infrastructure Reimbursement sup2 300 - 300 300
838 475 1313 300
Infrastructure recoverables na na 500sup3-800 300⁴
1813-2113 600
GOVERNMENT TRANSACTIONS
THANK YOU
Now follow us on
Q2 2017 DEVELOPMENT PROGRESS
6
Ansam
bull Entering final stages of construction
bull On track for a phased handover to conclude by year-
end
Al Hadeel
bull Entering final stages of construction
bull Handovers to commence from Q4 2017
Nareel Island
bull Entering final stages of construction
bull Land plots on track for completion from Q4 2017
Al Merief
bull Earthworks substantially completed
bull On track for Q1 2018 handover
Ansam progress as at Jun 2017
Al Hadeel progress as at Jun 2017
Q2 2017 DEVELOPMENT PROGRESS
7
Meera
bull Construction well under way
bull Casting works on track ndash reached 20th floor
Mayan
bull Early works complete
bull Main contract awarded and mobilized on-site
Yas Acres
bull Early works complete
bull Main contract awarded and contractor mobilized on-site
West Yas
bull Infrastructure and non-residential work substantially
complete
bull Majority of villas structurally complete
Meera progress as at Jun 2017
West Yas progress as at Jun 2017
SUCCESSFUL LAUNCH OF THE BRIDGES
8
bull Successful launch and sale of The Bridges ndash first three towers sold out in 3 weeks
bull Underserviced segment of the market ndash high-quality mid-market residential
bull Development strategy to focus on mid-market opportunities in near term
DESTINATION YAS ISLAND
9
New development announcements
bull During the quarter AED 12 billion Yas South development
announcement by Government of Abu Dhabi
bull Aldar awarded contract to develop new AED 1 billion
first phase of twofour54 media and entertainment free-
zone that will relocate close to 5000 workers onto Yas
island
Existing and ongoing investment
bull Warner Bros and Sea World projects currently under
development ndash Warner Bros set for completion in 2018
bull 3000 residential units currently under construction between
Ansam Mayan Yas Acres and West Yas that will increase
local population by c10000 people by end of 2020
bull New midfield terminal will support tourism growth from 2019
Schematic images of Yas Bay part of Yas South development
ASSET MANAGEMENT
Jassem Busaibe Chief Asset Management Officer
Q2 2017 ASSET MANAGEMENT HIGHLIGHTS
11
Residential
bull Occupancy maintained at 90
bull Bulk lease demand
Retail
bull Yas Mall 94 trading occupancy
bull First renewals process underway
bull Successful Eid Al Fitr sales event ndash 250000 visitors to Yas Mall over 24 hour period
Office
bull Occupancy stands at 92 as at 30 June 2017
Hotels
bull 78 occupancy YTD (2016 YTD 76) versus wider Abu Dhabi market at 70 sup1
sup1 Source ADTCA June 2017 YTD hospitality sector occupancy
INVESTMENT PLAN FULLY COMMITTED
12
26
2327
12
11
Diverse investment across all key asset classes
Hotels Retail Residential Office Schools
bull AED 3 billion investment plan fully committed
bull To produce a stabilized AED 300 million NOI
bull Continue to monitor opportunities in the market
Daman House acquired in Dec 2015
Al Jimi Mall extension and renovation
FINANCIAL HIGHLIGHTS
Greg Fewer Chief Financial Officer
Q2 2017 FINANCIAL HIGHLIGHTS ndash INCOME STATEMENT
14
Key highlights
bull Excluding significant land transaction in Q2 2016 underlying revenue and gross profit growth driven by
bull increased revenue recognition on off-plan property development ndash property development revenue
recognition up 64 to AED 429 million
bull modest decrease in recurring revenues ndash defensive qualities of investment property portfolio saw gross
profit fall by only 3 year-on-year
bull Other income supported by infrastructure recoverable writebacks during the quarter
bull Additional submissions for infrastructure reimbursements ndash AED 300-600 million left to be recognize
Q2 2017 FINANCIAL HIGHLIGHTS ndash BALANCE SHEET
15
Strong cash position
bull AED 59 billion gross cash including AED 13 billion in restricted and AED 09 billion escrow accounts
respectively
Prudent debt position
bull AED 55 billion gross debt at 30 June 2017
bull Next debt maturity in December 2018 - $750 million sukuk
Government receivables
bull Remaining AED 13 billion to receive over H2 2017-2018 ndash AED 95 million collected during the quarter
bull Further AED 300 million on-balance sheet infrastructure receivables as at 30 Jun 2017
bull Additional infrastructure submissions could lead to further receivables
SUMMARY
16
Development Management
bull Strong activity on the ground
bull Success of The Bridges ndash focus around high-quality mid-market
bull Destination Yas Island ndash new investments underway
bull 1500 unit guidance remains
Asset Management
bull Resilient operational performance remain well positioned in all key sectors
bull Maintain AED 16 billion NOI guidance ndash Q4 hospitality performance key
Financial
bull Strong balance sheet position
APPENDIX
Now follow us on
18
sup1 Sold units and sold units sales value includes all units where a sales purchase agreement (ldquocontractrdquo) has been signed This does not include sales reservations and pending sales contracts Total units and values as at period end are net of fully cancellations
DEVELOPMENT SUMMARY TABLE ndash 30 JUN 17
Project Location Recognition Launch Q2 2017 Total as at 30 Jun 2017 Expected
completion date Sold
units sup1
Sold unit sales
value (AEDm)
sup1
Sold
units sup1
Sold unit
sales value
(AEDm) sup1
Units
launched
sold Revenue
recognition
Revenue
recognised
Revenue
backlog
Ansam Yas Island Over-time 2014 2 5 506 845 547 93 80 676 168 2017
Hadeel Al Raha Beach Over-time 2014 - - 214 426 233 92 82 349 77 2017
Nareel Abu Dhabi Island Over-time 2015 - - 86 1097 148 58 72 785 312 2017
Merief Khalifa City Over-time 2015 - - 281 609 281 100 26 161 448 2018
Meera Shams Abu Dhabi Over-time 2015 - - 371 461 408 91 47 216 246 2018
Mayan Yas Island Over-time 2015 8 17 411 739 512 80 0 - 739 2019
Yas AcresYas Island Over-time 2016 11 46 432 1605 652 66 4 70 1535 2020
The
Bridges Shams Abu Dhabi Over-time 2017 556 562 556 562 636 87 0 - 562 2020
Aldar developments 577 630 2857 6344 3417 84 2257 4087
West Yas Yas Island na 2015 31 141 598 2674 1017 59 2018
Total developments 608 771 3455 9018 4434 78
FINANCIAL STATEMENTS ndash PROFIT AND LOSS
19
NB
Q2 2016 included a
significant Shams land
transaction (Revenue
AED 524 million and
gross profit of AED
196 million)
Q-o-Q Y-o-Y
AED millions Q2 2017 Q2 20162017
YTD
2016
YTD
Revenues 1354 1696 2932 2928
Direct costs (812) (1003) (1637) (1694)
Gross profit 542 693 1295 1234
Gross profit Margin 40 41 44 42
SGampA expenses (94) (90) (180) (192)
Depreciation and Amortization (48) (52) (98) (101)
Gain on disposals - 1 - 15
Share of profit from associates JVs 12 16 28 34
Other Income 289 172 372 426
Finance expense (62) (59) (123) (118)
Finance income 27 30 59 58
Fair value gains (losses) provision reversal
for impairments(45) (56) (92) (49)
Net Profit for the period 620 654 1261 1308
Attributable to
Owners of the Company 620 657 1256 1306
Non-controlling interests - (3) 5 2
Profit for the period 620 654 1261 1308
Basic and diluted earnings per share (fils) 79 84 160 166
FINANCIAL STATEMENTS ndash BALANCE SHEET
20
Q-o-Q Y-o-Y
AED millions As at
30 Jun 2017
As at
31 Mar 2017
As at
31 Dec 2016
As at
31 Dec 2015
Property plant and equipment 2909 2951 2986 2936
Investment properties 15829 15770 15773 15570
Development work in progress 1470 1391 1298 2745
Inventory 2512 2519 2449 2030
Receivables 5279 5057 5263 5535
Cash 5944 6975 6696 6260
Other Assets 1084 1084 1096 1065
Total Assets 35029 35747 35561 36141
Equity 22455 21865 22086 20288
Debt 5495 5519 5564 5947
Payables Advances and Other Liabilities 7079 8363 7911 9906
Total Liabilities and Equity 35029 35747 35561 36141
sup1 Recurring revenues assets include Investment Properties Hospitality amp Leisure Operative Villages Schools (Aldar Academies) and Property amp Facilities Management (PFM) (Khidmah)
Q2 2017 recurring revenues excludes Pivot revenue of AED217m (Q2 2016 revenue AED179m Q1 2017 revenue AED262m)
Q2 2017 recurring revenues gross profit excludes Pivot gross loss of AED1m (Q2 2016 gross loss AED19m Q1 2017 gross profit AED5m)
Q2 2017 recurring revenues gross profit of AED 357 million (Q2 2016 AED381 million Q1 2017 AED 402 million) sup1
21
419
101
5
360
41
429 425
112
28
320
27
783
429
131
4
419
60
534
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
Q2 2017 Segmental Revenue Performance
Q2 2017 Q2 2016 Q1 2017
AE
D M
illio
ns
Q2 2017 recurring revenues of AED 666 million (Q2 2016 AED 706 million Q1 2017 AED 723 million) sup1
(1)
QUARTERLY SEGMENTAL ANALYSIS
Q2 2016 property development revenue
includes AED 524 million Shams land sale
338
6 5 7 32
154
349
11 4 21
309 355
29 4 19
58
289
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
Q2 2017 Segmental Gross Profit Performance
Q2 2017 Q2 2016 Q1 2017
AE
D M
illio
ns
Q2 2016 property development gross profit
includes AED 196 million Shams land sale
sup1 Recurring revenues assets include Investment Properties Hospitality amp Leisure Operative Villages Schools (Aldar Academies) and Property amp Facilities Management (PFM) (Khidmah)
H1 2017 recurring revenues excludes Pivot revenue of AED479m (H1 2016 revenue AED347m)
H1 2017 recurring revenue gross profit excludes Pivot gross profit of AED3m (H1 2016 gross loss AED11m) 22
848
232 9
779
101
963 866
258 66
611
64
1063
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
2017 YTD Segmental Revenue Performance
2017 YTD 2016 YTD
AE
D M
illio
ns
H1 2017 recurring revenues of AED 1389 million (H1 2016 AED 1455 million) sup1
693
34 9 26 90
443
705
47 14 22 53
394
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
2017 YTD Segmental Gross Profit Performance
2017 YTD 2016 YTD
AE
D M
illio
ns
H1 2017 recurring revenues gross profit of AED 759 million (H1 2016 AED 799 million) sup1
HALF YEARLY SEGMENTAL ANALYSIS
23
sup1 Al Raha Beach land plot handed over in Q3 2016
sup2 Cash flow timing depends on handover of related assets
sup3 On-balance sheet infrastructure recoverables outstanding as at 30 Jun 17
⁴ Additional infrastructure reimbursement submissions made to Government of Abu Dhabi subject to approval
Remaining cash inflows Remaining
PampL events
Transaction (AEDm) H2 2017 2018 Total Other income
Sale of F1 Race Track 348 - 348 -
Sale of Al Raha Beach Land sup1 190 475 665 -
Shams Infrastructure Reimbursement sup2 300 - 300 300
838 475 1313 300
Infrastructure recoverables na na 500sup3-800 300⁴
1813-2113 600
GOVERNMENT TRANSACTIONS
THANK YOU
Now follow us on
Q2 2017 DEVELOPMENT PROGRESS
7
Meera
bull Construction well under way
bull Casting works on track ndash reached 20th floor
Mayan
bull Early works complete
bull Main contract awarded and mobilized on-site
Yas Acres
bull Early works complete
bull Main contract awarded and contractor mobilized on-site
West Yas
bull Infrastructure and non-residential work substantially
complete
bull Majority of villas structurally complete
Meera progress as at Jun 2017
West Yas progress as at Jun 2017
SUCCESSFUL LAUNCH OF THE BRIDGES
8
bull Successful launch and sale of The Bridges ndash first three towers sold out in 3 weeks
bull Underserviced segment of the market ndash high-quality mid-market residential
bull Development strategy to focus on mid-market opportunities in near term
DESTINATION YAS ISLAND
9
New development announcements
bull During the quarter AED 12 billion Yas South development
announcement by Government of Abu Dhabi
bull Aldar awarded contract to develop new AED 1 billion
first phase of twofour54 media and entertainment free-
zone that will relocate close to 5000 workers onto Yas
island
Existing and ongoing investment
bull Warner Bros and Sea World projects currently under
development ndash Warner Bros set for completion in 2018
bull 3000 residential units currently under construction between
Ansam Mayan Yas Acres and West Yas that will increase
local population by c10000 people by end of 2020
bull New midfield terminal will support tourism growth from 2019
Schematic images of Yas Bay part of Yas South development
ASSET MANAGEMENT
Jassem Busaibe Chief Asset Management Officer
Q2 2017 ASSET MANAGEMENT HIGHLIGHTS
11
Residential
bull Occupancy maintained at 90
bull Bulk lease demand
Retail
bull Yas Mall 94 trading occupancy
bull First renewals process underway
bull Successful Eid Al Fitr sales event ndash 250000 visitors to Yas Mall over 24 hour period
Office
bull Occupancy stands at 92 as at 30 June 2017
Hotels
bull 78 occupancy YTD (2016 YTD 76) versus wider Abu Dhabi market at 70 sup1
sup1 Source ADTCA June 2017 YTD hospitality sector occupancy
INVESTMENT PLAN FULLY COMMITTED
12
26
2327
12
11
Diverse investment across all key asset classes
Hotels Retail Residential Office Schools
bull AED 3 billion investment plan fully committed
bull To produce a stabilized AED 300 million NOI
bull Continue to monitor opportunities in the market
Daman House acquired in Dec 2015
Al Jimi Mall extension and renovation
FINANCIAL HIGHLIGHTS
Greg Fewer Chief Financial Officer
Q2 2017 FINANCIAL HIGHLIGHTS ndash INCOME STATEMENT
14
Key highlights
bull Excluding significant land transaction in Q2 2016 underlying revenue and gross profit growth driven by
bull increased revenue recognition on off-plan property development ndash property development revenue
recognition up 64 to AED 429 million
bull modest decrease in recurring revenues ndash defensive qualities of investment property portfolio saw gross
profit fall by only 3 year-on-year
bull Other income supported by infrastructure recoverable writebacks during the quarter
bull Additional submissions for infrastructure reimbursements ndash AED 300-600 million left to be recognize
Q2 2017 FINANCIAL HIGHLIGHTS ndash BALANCE SHEET
15
Strong cash position
bull AED 59 billion gross cash including AED 13 billion in restricted and AED 09 billion escrow accounts
respectively
Prudent debt position
bull AED 55 billion gross debt at 30 June 2017
bull Next debt maturity in December 2018 - $750 million sukuk
Government receivables
bull Remaining AED 13 billion to receive over H2 2017-2018 ndash AED 95 million collected during the quarter
bull Further AED 300 million on-balance sheet infrastructure receivables as at 30 Jun 2017
bull Additional infrastructure submissions could lead to further receivables
SUMMARY
16
Development Management
bull Strong activity on the ground
bull Success of The Bridges ndash focus around high-quality mid-market
bull Destination Yas Island ndash new investments underway
bull 1500 unit guidance remains
Asset Management
bull Resilient operational performance remain well positioned in all key sectors
bull Maintain AED 16 billion NOI guidance ndash Q4 hospitality performance key
Financial
bull Strong balance sheet position
APPENDIX
Now follow us on
18
sup1 Sold units and sold units sales value includes all units where a sales purchase agreement (ldquocontractrdquo) has been signed This does not include sales reservations and pending sales contracts Total units and values as at period end are net of fully cancellations
DEVELOPMENT SUMMARY TABLE ndash 30 JUN 17
Project Location Recognition Launch Q2 2017 Total as at 30 Jun 2017 Expected
completion date Sold
units sup1
Sold unit sales
value (AEDm)
sup1
Sold
units sup1
Sold unit
sales value
(AEDm) sup1
Units
launched
sold Revenue
recognition
Revenue
recognised
Revenue
backlog
Ansam Yas Island Over-time 2014 2 5 506 845 547 93 80 676 168 2017
Hadeel Al Raha Beach Over-time 2014 - - 214 426 233 92 82 349 77 2017
Nareel Abu Dhabi Island Over-time 2015 - - 86 1097 148 58 72 785 312 2017
Merief Khalifa City Over-time 2015 - - 281 609 281 100 26 161 448 2018
Meera Shams Abu Dhabi Over-time 2015 - - 371 461 408 91 47 216 246 2018
Mayan Yas Island Over-time 2015 8 17 411 739 512 80 0 - 739 2019
Yas AcresYas Island Over-time 2016 11 46 432 1605 652 66 4 70 1535 2020
The
Bridges Shams Abu Dhabi Over-time 2017 556 562 556 562 636 87 0 - 562 2020
Aldar developments 577 630 2857 6344 3417 84 2257 4087
West Yas Yas Island na 2015 31 141 598 2674 1017 59 2018
Total developments 608 771 3455 9018 4434 78
FINANCIAL STATEMENTS ndash PROFIT AND LOSS
19
NB
Q2 2016 included a
significant Shams land
transaction (Revenue
AED 524 million and
gross profit of AED
196 million)
Q-o-Q Y-o-Y
AED millions Q2 2017 Q2 20162017
YTD
2016
YTD
Revenues 1354 1696 2932 2928
Direct costs (812) (1003) (1637) (1694)
Gross profit 542 693 1295 1234
Gross profit Margin 40 41 44 42
SGampA expenses (94) (90) (180) (192)
Depreciation and Amortization (48) (52) (98) (101)
Gain on disposals - 1 - 15
Share of profit from associates JVs 12 16 28 34
Other Income 289 172 372 426
Finance expense (62) (59) (123) (118)
Finance income 27 30 59 58
Fair value gains (losses) provision reversal
for impairments(45) (56) (92) (49)
Net Profit for the period 620 654 1261 1308
Attributable to
Owners of the Company 620 657 1256 1306
Non-controlling interests - (3) 5 2
Profit for the period 620 654 1261 1308
Basic and diluted earnings per share (fils) 79 84 160 166
FINANCIAL STATEMENTS ndash BALANCE SHEET
20
Q-o-Q Y-o-Y
AED millions As at
30 Jun 2017
As at
31 Mar 2017
As at
31 Dec 2016
As at
31 Dec 2015
Property plant and equipment 2909 2951 2986 2936
Investment properties 15829 15770 15773 15570
Development work in progress 1470 1391 1298 2745
Inventory 2512 2519 2449 2030
Receivables 5279 5057 5263 5535
Cash 5944 6975 6696 6260
Other Assets 1084 1084 1096 1065
Total Assets 35029 35747 35561 36141
Equity 22455 21865 22086 20288
Debt 5495 5519 5564 5947
Payables Advances and Other Liabilities 7079 8363 7911 9906
Total Liabilities and Equity 35029 35747 35561 36141
sup1 Recurring revenues assets include Investment Properties Hospitality amp Leisure Operative Villages Schools (Aldar Academies) and Property amp Facilities Management (PFM) (Khidmah)
Q2 2017 recurring revenues excludes Pivot revenue of AED217m (Q2 2016 revenue AED179m Q1 2017 revenue AED262m)
Q2 2017 recurring revenues gross profit excludes Pivot gross loss of AED1m (Q2 2016 gross loss AED19m Q1 2017 gross profit AED5m)
Q2 2017 recurring revenues gross profit of AED 357 million (Q2 2016 AED381 million Q1 2017 AED 402 million) sup1
21
419
101
5
360
41
429 425
112
28
320
27
783
429
131
4
419
60
534
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
Q2 2017 Segmental Revenue Performance
Q2 2017 Q2 2016 Q1 2017
AE
D M
illio
ns
Q2 2017 recurring revenues of AED 666 million (Q2 2016 AED 706 million Q1 2017 AED 723 million) sup1
(1)
QUARTERLY SEGMENTAL ANALYSIS
Q2 2016 property development revenue
includes AED 524 million Shams land sale
338
6 5 7 32
154
349
11 4 21
309 355
29 4 19
58
289
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
Q2 2017 Segmental Gross Profit Performance
Q2 2017 Q2 2016 Q1 2017
AE
D M
illio
ns
Q2 2016 property development gross profit
includes AED 196 million Shams land sale
sup1 Recurring revenues assets include Investment Properties Hospitality amp Leisure Operative Villages Schools (Aldar Academies) and Property amp Facilities Management (PFM) (Khidmah)
H1 2017 recurring revenues excludes Pivot revenue of AED479m (H1 2016 revenue AED347m)
H1 2017 recurring revenue gross profit excludes Pivot gross profit of AED3m (H1 2016 gross loss AED11m) 22
848
232 9
779
101
963 866
258 66
611
64
1063
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
2017 YTD Segmental Revenue Performance
2017 YTD 2016 YTD
AE
D M
illio
ns
H1 2017 recurring revenues of AED 1389 million (H1 2016 AED 1455 million) sup1
693
34 9 26 90
443
705
47 14 22 53
394
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
2017 YTD Segmental Gross Profit Performance
2017 YTD 2016 YTD
AE
D M
illio
ns
H1 2017 recurring revenues gross profit of AED 759 million (H1 2016 AED 799 million) sup1
HALF YEARLY SEGMENTAL ANALYSIS
23
sup1 Al Raha Beach land plot handed over in Q3 2016
sup2 Cash flow timing depends on handover of related assets
sup3 On-balance sheet infrastructure recoverables outstanding as at 30 Jun 17
⁴ Additional infrastructure reimbursement submissions made to Government of Abu Dhabi subject to approval
Remaining cash inflows Remaining
PampL events
Transaction (AEDm) H2 2017 2018 Total Other income
Sale of F1 Race Track 348 - 348 -
Sale of Al Raha Beach Land sup1 190 475 665 -
Shams Infrastructure Reimbursement sup2 300 - 300 300
838 475 1313 300
Infrastructure recoverables na na 500sup3-800 300⁴
1813-2113 600
GOVERNMENT TRANSACTIONS
THANK YOU
Now follow us on
SUCCESSFUL LAUNCH OF THE BRIDGES
8
bull Successful launch and sale of The Bridges ndash first three towers sold out in 3 weeks
bull Underserviced segment of the market ndash high-quality mid-market residential
bull Development strategy to focus on mid-market opportunities in near term
DESTINATION YAS ISLAND
9
New development announcements
bull During the quarter AED 12 billion Yas South development
announcement by Government of Abu Dhabi
bull Aldar awarded contract to develop new AED 1 billion
first phase of twofour54 media and entertainment free-
zone that will relocate close to 5000 workers onto Yas
island
Existing and ongoing investment
bull Warner Bros and Sea World projects currently under
development ndash Warner Bros set for completion in 2018
bull 3000 residential units currently under construction between
Ansam Mayan Yas Acres and West Yas that will increase
local population by c10000 people by end of 2020
bull New midfield terminal will support tourism growth from 2019
Schematic images of Yas Bay part of Yas South development
ASSET MANAGEMENT
Jassem Busaibe Chief Asset Management Officer
Q2 2017 ASSET MANAGEMENT HIGHLIGHTS
11
Residential
bull Occupancy maintained at 90
bull Bulk lease demand
Retail
bull Yas Mall 94 trading occupancy
bull First renewals process underway
bull Successful Eid Al Fitr sales event ndash 250000 visitors to Yas Mall over 24 hour period
Office
bull Occupancy stands at 92 as at 30 June 2017
Hotels
bull 78 occupancy YTD (2016 YTD 76) versus wider Abu Dhabi market at 70 sup1
sup1 Source ADTCA June 2017 YTD hospitality sector occupancy
INVESTMENT PLAN FULLY COMMITTED
12
26
2327
12
11
Diverse investment across all key asset classes
Hotels Retail Residential Office Schools
bull AED 3 billion investment plan fully committed
bull To produce a stabilized AED 300 million NOI
bull Continue to monitor opportunities in the market
Daman House acquired in Dec 2015
Al Jimi Mall extension and renovation
FINANCIAL HIGHLIGHTS
Greg Fewer Chief Financial Officer
Q2 2017 FINANCIAL HIGHLIGHTS ndash INCOME STATEMENT
14
Key highlights
bull Excluding significant land transaction in Q2 2016 underlying revenue and gross profit growth driven by
bull increased revenue recognition on off-plan property development ndash property development revenue
recognition up 64 to AED 429 million
bull modest decrease in recurring revenues ndash defensive qualities of investment property portfolio saw gross
profit fall by only 3 year-on-year
bull Other income supported by infrastructure recoverable writebacks during the quarter
bull Additional submissions for infrastructure reimbursements ndash AED 300-600 million left to be recognize
Q2 2017 FINANCIAL HIGHLIGHTS ndash BALANCE SHEET
15
Strong cash position
bull AED 59 billion gross cash including AED 13 billion in restricted and AED 09 billion escrow accounts
respectively
Prudent debt position
bull AED 55 billion gross debt at 30 June 2017
bull Next debt maturity in December 2018 - $750 million sukuk
Government receivables
bull Remaining AED 13 billion to receive over H2 2017-2018 ndash AED 95 million collected during the quarter
bull Further AED 300 million on-balance sheet infrastructure receivables as at 30 Jun 2017
bull Additional infrastructure submissions could lead to further receivables
SUMMARY
16
Development Management
bull Strong activity on the ground
bull Success of The Bridges ndash focus around high-quality mid-market
bull Destination Yas Island ndash new investments underway
bull 1500 unit guidance remains
Asset Management
bull Resilient operational performance remain well positioned in all key sectors
bull Maintain AED 16 billion NOI guidance ndash Q4 hospitality performance key
Financial
bull Strong balance sheet position
APPENDIX
Now follow us on
18
sup1 Sold units and sold units sales value includes all units where a sales purchase agreement (ldquocontractrdquo) has been signed This does not include sales reservations and pending sales contracts Total units and values as at period end are net of fully cancellations
DEVELOPMENT SUMMARY TABLE ndash 30 JUN 17
Project Location Recognition Launch Q2 2017 Total as at 30 Jun 2017 Expected
completion date Sold
units sup1
Sold unit sales
value (AEDm)
sup1
Sold
units sup1
Sold unit
sales value
(AEDm) sup1
Units
launched
sold Revenue
recognition
Revenue
recognised
Revenue
backlog
Ansam Yas Island Over-time 2014 2 5 506 845 547 93 80 676 168 2017
Hadeel Al Raha Beach Over-time 2014 - - 214 426 233 92 82 349 77 2017
Nareel Abu Dhabi Island Over-time 2015 - - 86 1097 148 58 72 785 312 2017
Merief Khalifa City Over-time 2015 - - 281 609 281 100 26 161 448 2018
Meera Shams Abu Dhabi Over-time 2015 - - 371 461 408 91 47 216 246 2018
Mayan Yas Island Over-time 2015 8 17 411 739 512 80 0 - 739 2019
Yas AcresYas Island Over-time 2016 11 46 432 1605 652 66 4 70 1535 2020
The
Bridges Shams Abu Dhabi Over-time 2017 556 562 556 562 636 87 0 - 562 2020
Aldar developments 577 630 2857 6344 3417 84 2257 4087
West Yas Yas Island na 2015 31 141 598 2674 1017 59 2018
Total developments 608 771 3455 9018 4434 78
FINANCIAL STATEMENTS ndash PROFIT AND LOSS
19
NB
Q2 2016 included a
significant Shams land
transaction (Revenue
AED 524 million and
gross profit of AED
196 million)
Q-o-Q Y-o-Y
AED millions Q2 2017 Q2 20162017
YTD
2016
YTD
Revenues 1354 1696 2932 2928
Direct costs (812) (1003) (1637) (1694)
Gross profit 542 693 1295 1234
Gross profit Margin 40 41 44 42
SGampA expenses (94) (90) (180) (192)
Depreciation and Amortization (48) (52) (98) (101)
Gain on disposals - 1 - 15
Share of profit from associates JVs 12 16 28 34
Other Income 289 172 372 426
Finance expense (62) (59) (123) (118)
Finance income 27 30 59 58
Fair value gains (losses) provision reversal
for impairments(45) (56) (92) (49)
Net Profit for the period 620 654 1261 1308
Attributable to
Owners of the Company 620 657 1256 1306
Non-controlling interests - (3) 5 2
Profit for the period 620 654 1261 1308
Basic and diluted earnings per share (fils) 79 84 160 166
FINANCIAL STATEMENTS ndash BALANCE SHEET
20
Q-o-Q Y-o-Y
AED millions As at
30 Jun 2017
As at
31 Mar 2017
As at
31 Dec 2016
As at
31 Dec 2015
Property plant and equipment 2909 2951 2986 2936
Investment properties 15829 15770 15773 15570
Development work in progress 1470 1391 1298 2745
Inventory 2512 2519 2449 2030
Receivables 5279 5057 5263 5535
Cash 5944 6975 6696 6260
Other Assets 1084 1084 1096 1065
Total Assets 35029 35747 35561 36141
Equity 22455 21865 22086 20288
Debt 5495 5519 5564 5947
Payables Advances and Other Liabilities 7079 8363 7911 9906
Total Liabilities and Equity 35029 35747 35561 36141
sup1 Recurring revenues assets include Investment Properties Hospitality amp Leisure Operative Villages Schools (Aldar Academies) and Property amp Facilities Management (PFM) (Khidmah)
Q2 2017 recurring revenues excludes Pivot revenue of AED217m (Q2 2016 revenue AED179m Q1 2017 revenue AED262m)
Q2 2017 recurring revenues gross profit excludes Pivot gross loss of AED1m (Q2 2016 gross loss AED19m Q1 2017 gross profit AED5m)
Q2 2017 recurring revenues gross profit of AED 357 million (Q2 2016 AED381 million Q1 2017 AED 402 million) sup1
21
419
101
5
360
41
429 425
112
28
320
27
783
429
131
4
419
60
534
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
Q2 2017 Segmental Revenue Performance
Q2 2017 Q2 2016 Q1 2017
AE
D M
illio
ns
Q2 2017 recurring revenues of AED 666 million (Q2 2016 AED 706 million Q1 2017 AED 723 million) sup1
(1)
QUARTERLY SEGMENTAL ANALYSIS
Q2 2016 property development revenue
includes AED 524 million Shams land sale
338
6 5 7 32
154
349
11 4 21
309 355
29 4 19
58
289
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
Q2 2017 Segmental Gross Profit Performance
Q2 2017 Q2 2016 Q1 2017
AE
D M
illio
ns
Q2 2016 property development gross profit
includes AED 196 million Shams land sale
sup1 Recurring revenues assets include Investment Properties Hospitality amp Leisure Operative Villages Schools (Aldar Academies) and Property amp Facilities Management (PFM) (Khidmah)
H1 2017 recurring revenues excludes Pivot revenue of AED479m (H1 2016 revenue AED347m)
H1 2017 recurring revenue gross profit excludes Pivot gross profit of AED3m (H1 2016 gross loss AED11m) 22
848
232 9
779
101
963 866
258 66
611
64
1063
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
2017 YTD Segmental Revenue Performance
2017 YTD 2016 YTD
AE
D M
illio
ns
H1 2017 recurring revenues of AED 1389 million (H1 2016 AED 1455 million) sup1
693
34 9 26 90
443
705
47 14 22 53
394
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
2017 YTD Segmental Gross Profit Performance
2017 YTD 2016 YTD
AE
D M
illio
ns
H1 2017 recurring revenues gross profit of AED 759 million (H1 2016 AED 799 million) sup1
HALF YEARLY SEGMENTAL ANALYSIS
23
sup1 Al Raha Beach land plot handed over in Q3 2016
sup2 Cash flow timing depends on handover of related assets
sup3 On-balance sheet infrastructure recoverables outstanding as at 30 Jun 17
⁴ Additional infrastructure reimbursement submissions made to Government of Abu Dhabi subject to approval
Remaining cash inflows Remaining
PampL events
Transaction (AEDm) H2 2017 2018 Total Other income
Sale of F1 Race Track 348 - 348 -
Sale of Al Raha Beach Land sup1 190 475 665 -
Shams Infrastructure Reimbursement sup2 300 - 300 300
838 475 1313 300
Infrastructure recoverables na na 500sup3-800 300⁴
1813-2113 600
GOVERNMENT TRANSACTIONS
THANK YOU
Now follow us on
DESTINATION YAS ISLAND
9
New development announcements
bull During the quarter AED 12 billion Yas South development
announcement by Government of Abu Dhabi
bull Aldar awarded contract to develop new AED 1 billion
first phase of twofour54 media and entertainment free-
zone that will relocate close to 5000 workers onto Yas
island
Existing and ongoing investment
bull Warner Bros and Sea World projects currently under
development ndash Warner Bros set for completion in 2018
bull 3000 residential units currently under construction between
Ansam Mayan Yas Acres and West Yas that will increase
local population by c10000 people by end of 2020
bull New midfield terminal will support tourism growth from 2019
Schematic images of Yas Bay part of Yas South development
ASSET MANAGEMENT
Jassem Busaibe Chief Asset Management Officer
Q2 2017 ASSET MANAGEMENT HIGHLIGHTS
11
Residential
bull Occupancy maintained at 90
bull Bulk lease demand
Retail
bull Yas Mall 94 trading occupancy
bull First renewals process underway
bull Successful Eid Al Fitr sales event ndash 250000 visitors to Yas Mall over 24 hour period
Office
bull Occupancy stands at 92 as at 30 June 2017
Hotels
bull 78 occupancy YTD (2016 YTD 76) versus wider Abu Dhabi market at 70 sup1
sup1 Source ADTCA June 2017 YTD hospitality sector occupancy
INVESTMENT PLAN FULLY COMMITTED
12
26
2327
12
11
Diverse investment across all key asset classes
Hotels Retail Residential Office Schools
bull AED 3 billion investment plan fully committed
bull To produce a stabilized AED 300 million NOI
bull Continue to monitor opportunities in the market
Daman House acquired in Dec 2015
Al Jimi Mall extension and renovation
FINANCIAL HIGHLIGHTS
Greg Fewer Chief Financial Officer
Q2 2017 FINANCIAL HIGHLIGHTS ndash INCOME STATEMENT
14
Key highlights
bull Excluding significant land transaction in Q2 2016 underlying revenue and gross profit growth driven by
bull increased revenue recognition on off-plan property development ndash property development revenue
recognition up 64 to AED 429 million
bull modest decrease in recurring revenues ndash defensive qualities of investment property portfolio saw gross
profit fall by only 3 year-on-year
bull Other income supported by infrastructure recoverable writebacks during the quarter
bull Additional submissions for infrastructure reimbursements ndash AED 300-600 million left to be recognize
Q2 2017 FINANCIAL HIGHLIGHTS ndash BALANCE SHEET
15
Strong cash position
bull AED 59 billion gross cash including AED 13 billion in restricted and AED 09 billion escrow accounts
respectively
Prudent debt position
bull AED 55 billion gross debt at 30 June 2017
bull Next debt maturity in December 2018 - $750 million sukuk
Government receivables
bull Remaining AED 13 billion to receive over H2 2017-2018 ndash AED 95 million collected during the quarter
bull Further AED 300 million on-balance sheet infrastructure receivables as at 30 Jun 2017
bull Additional infrastructure submissions could lead to further receivables
SUMMARY
16
Development Management
bull Strong activity on the ground
bull Success of The Bridges ndash focus around high-quality mid-market
bull Destination Yas Island ndash new investments underway
bull 1500 unit guidance remains
Asset Management
bull Resilient operational performance remain well positioned in all key sectors
bull Maintain AED 16 billion NOI guidance ndash Q4 hospitality performance key
Financial
bull Strong balance sheet position
APPENDIX
Now follow us on
18
sup1 Sold units and sold units sales value includes all units where a sales purchase agreement (ldquocontractrdquo) has been signed This does not include sales reservations and pending sales contracts Total units and values as at period end are net of fully cancellations
DEVELOPMENT SUMMARY TABLE ndash 30 JUN 17
Project Location Recognition Launch Q2 2017 Total as at 30 Jun 2017 Expected
completion date Sold
units sup1
Sold unit sales
value (AEDm)
sup1
Sold
units sup1
Sold unit
sales value
(AEDm) sup1
Units
launched
sold Revenue
recognition
Revenue
recognised
Revenue
backlog
Ansam Yas Island Over-time 2014 2 5 506 845 547 93 80 676 168 2017
Hadeel Al Raha Beach Over-time 2014 - - 214 426 233 92 82 349 77 2017
Nareel Abu Dhabi Island Over-time 2015 - - 86 1097 148 58 72 785 312 2017
Merief Khalifa City Over-time 2015 - - 281 609 281 100 26 161 448 2018
Meera Shams Abu Dhabi Over-time 2015 - - 371 461 408 91 47 216 246 2018
Mayan Yas Island Over-time 2015 8 17 411 739 512 80 0 - 739 2019
Yas AcresYas Island Over-time 2016 11 46 432 1605 652 66 4 70 1535 2020
The
Bridges Shams Abu Dhabi Over-time 2017 556 562 556 562 636 87 0 - 562 2020
Aldar developments 577 630 2857 6344 3417 84 2257 4087
West Yas Yas Island na 2015 31 141 598 2674 1017 59 2018
Total developments 608 771 3455 9018 4434 78
FINANCIAL STATEMENTS ndash PROFIT AND LOSS
19
NB
Q2 2016 included a
significant Shams land
transaction (Revenue
AED 524 million and
gross profit of AED
196 million)
Q-o-Q Y-o-Y
AED millions Q2 2017 Q2 20162017
YTD
2016
YTD
Revenues 1354 1696 2932 2928
Direct costs (812) (1003) (1637) (1694)
Gross profit 542 693 1295 1234
Gross profit Margin 40 41 44 42
SGampA expenses (94) (90) (180) (192)
Depreciation and Amortization (48) (52) (98) (101)
Gain on disposals - 1 - 15
Share of profit from associates JVs 12 16 28 34
Other Income 289 172 372 426
Finance expense (62) (59) (123) (118)
Finance income 27 30 59 58
Fair value gains (losses) provision reversal
for impairments(45) (56) (92) (49)
Net Profit for the period 620 654 1261 1308
Attributable to
Owners of the Company 620 657 1256 1306
Non-controlling interests - (3) 5 2
Profit for the period 620 654 1261 1308
Basic and diluted earnings per share (fils) 79 84 160 166
FINANCIAL STATEMENTS ndash BALANCE SHEET
20
Q-o-Q Y-o-Y
AED millions As at
30 Jun 2017
As at
31 Mar 2017
As at
31 Dec 2016
As at
31 Dec 2015
Property plant and equipment 2909 2951 2986 2936
Investment properties 15829 15770 15773 15570
Development work in progress 1470 1391 1298 2745
Inventory 2512 2519 2449 2030
Receivables 5279 5057 5263 5535
Cash 5944 6975 6696 6260
Other Assets 1084 1084 1096 1065
Total Assets 35029 35747 35561 36141
Equity 22455 21865 22086 20288
Debt 5495 5519 5564 5947
Payables Advances and Other Liabilities 7079 8363 7911 9906
Total Liabilities and Equity 35029 35747 35561 36141
sup1 Recurring revenues assets include Investment Properties Hospitality amp Leisure Operative Villages Schools (Aldar Academies) and Property amp Facilities Management (PFM) (Khidmah)
Q2 2017 recurring revenues excludes Pivot revenue of AED217m (Q2 2016 revenue AED179m Q1 2017 revenue AED262m)
Q2 2017 recurring revenues gross profit excludes Pivot gross loss of AED1m (Q2 2016 gross loss AED19m Q1 2017 gross profit AED5m)
Q2 2017 recurring revenues gross profit of AED 357 million (Q2 2016 AED381 million Q1 2017 AED 402 million) sup1
21
419
101
5
360
41
429 425
112
28
320
27
783
429
131
4
419
60
534
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
Q2 2017 Segmental Revenue Performance
Q2 2017 Q2 2016 Q1 2017
AE
D M
illio
ns
Q2 2017 recurring revenues of AED 666 million (Q2 2016 AED 706 million Q1 2017 AED 723 million) sup1
(1)
QUARTERLY SEGMENTAL ANALYSIS
Q2 2016 property development revenue
includes AED 524 million Shams land sale
338
6 5 7 32
154
349
11 4 21
309 355
29 4 19
58
289
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
Q2 2017 Segmental Gross Profit Performance
Q2 2017 Q2 2016 Q1 2017
AE
D M
illio
ns
Q2 2016 property development gross profit
includes AED 196 million Shams land sale
sup1 Recurring revenues assets include Investment Properties Hospitality amp Leisure Operative Villages Schools (Aldar Academies) and Property amp Facilities Management (PFM) (Khidmah)
H1 2017 recurring revenues excludes Pivot revenue of AED479m (H1 2016 revenue AED347m)
H1 2017 recurring revenue gross profit excludes Pivot gross profit of AED3m (H1 2016 gross loss AED11m) 22
848
232 9
779
101
963 866
258 66
611
64
1063
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
2017 YTD Segmental Revenue Performance
2017 YTD 2016 YTD
AE
D M
illio
ns
H1 2017 recurring revenues of AED 1389 million (H1 2016 AED 1455 million) sup1
693
34 9 26 90
443
705
47 14 22 53
394
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
2017 YTD Segmental Gross Profit Performance
2017 YTD 2016 YTD
AE
D M
illio
ns
H1 2017 recurring revenues gross profit of AED 759 million (H1 2016 AED 799 million) sup1
HALF YEARLY SEGMENTAL ANALYSIS
23
sup1 Al Raha Beach land plot handed over in Q3 2016
sup2 Cash flow timing depends on handover of related assets
sup3 On-balance sheet infrastructure recoverables outstanding as at 30 Jun 17
⁴ Additional infrastructure reimbursement submissions made to Government of Abu Dhabi subject to approval
Remaining cash inflows Remaining
PampL events
Transaction (AEDm) H2 2017 2018 Total Other income
Sale of F1 Race Track 348 - 348 -
Sale of Al Raha Beach Land sup1 190 475 665 -
Shams Infrastructure Reimbursement sup2 300 - 300 300
838 475 1313 300
Infrastructure recoverables na na 500sup3-800 300⁴
1813-2113 600
GOVERNMENT TRANSACTIONS
THANK YOU
Now follow us on
ASSET MANAGEMENT
Jassem Busaibe Chief Asset Management Officer
Q2 2017 ASSET MANAGEMENT HIGHLIGHTS
11
Residential
bull Occupancy maintained at 90
bull Bulk lease demand
Retail
bull Yas Mall 94 trading occupancy
bull First renewals process underway
bull Successful Eid Al Fitr sales event ndash 250000 visitors to Yas Mall over 24 hour period
Office
bull Occupancy stands at 92 as at 30 June 2017
Hotels
bull 78 occupancy YTD (2016 YTD 76) versus wider Abu Dhabi market at 70 sup1
sup1 Source ADTCA June 2017 YTD hospitality sector occupancy
INVESTMENT PLAN FULLY COMMITTED
12
26
2327
12
11
Diverse investment across all key asset classes
Hotels Retail Residential Office Schools
bull AED 3 billion investment plan fully committed
bull To produce a stabilized AED 300 million NOI
bull Continue to monitor opportunities in the market
Daman House acquired in Dec 2015
Al Jimi Mall extension and renovation
FINANCIAL HIGHLIGHTS
Greg Fewer Chief Financial Officer
Q2 2017 FINANCIAL HIGHLIGHTS ndash INCOME STATEMENT
14
Key highlights
bull Excluding significant land transaction in Q2 2016 underlying revenue and gross profit growth driven by
bull increased revenue recognition on off-plan property development ndash property development revenue
recognition up 64 to AED 429 million
bull modest decrease in recurring revenues ndash defensive qualities of investment property portfolio saw gross
profit fall by only 3 year-on-year
bull Other income supported by infrastructure recoverable writebacks during the quarter
bull Additional submissions for infrastructure reimbursements ndash AED 300-600 million left to be recognize
Q2 2017 FINANCIAL HIGHLIGHTS ndash BALANCE SHEET
15
Strong cash position
bull AED 59 billion gross cash including AED 13 billion in restricted and AED 09 billion escrow accounts
respectively
Prudent debt position
bull AED 55 billion gross debt at 30 June 2017
bull Next debt maturity in December 2018 - $750 million sukuk
Government receivables
bull Remaining AED 13 billion to receive over H2 2017-2018 ndash AED 95 million collected during the quarter
bull Further AED 300 million on-balance sheet infrastructure receivables as at 30 Jun 2017
bull Additional infrastructure submissions could lead to further receivables
SUMMARY
16
Development Management
bull Strong activity on the ground
bull Success of The Bridges ndash focus around high-quality mid-market
bull Destination Yas Island ndash new investments underway
bull 1500 unit guidance remains
Asset Management
bull Resilient operational performance remain well positioned in all key sectors
bull Maintain AED 16 billion NOI guidance ndash Q4 hospitality performance key
Financial
bull Strong balance sheet position
APPENDIX
Now follow us on
18
sup1 Sold units and sold units sales value includes all units where a sales purchase agreement (ldquocontractrdquo) has been signed This does not include sales reservations and pending sales contracts Total units and values as at period end are net of fully cancellations
DEVELOPMENT SUMMARY TABLE ndash 30 JUN 17
Project Location Recognition Launch Q2 2017 Total as at 30 Jun 2017 Expected
completion date Sold
units sup1
Sold unit sales
value (AEDm)
sup1
Sold
units sup1
Sold unit
sales value
(AEDm) sup1
Units
launched
sold Revenue
recognition
Revenue
recognised
Revenue
backlog
Ansam Yas Island Over-time 2014 2 5 506 845 547 93 80 676 168 2017
Hadeel Al Raha Beach Over-time 2014 - - 214 426 233 92 82 349 77 2017
Nareel Abu Dhabi Island Over-time 2015 - - 86 1097 148 58 72 785 312 2017
Merief Khalifa City Over-time 2015 - - 281 609 281 100 26 161 448 2018
Meera Shams Abu Dhabi Over-time 2015 - - 371 461 408 91 47 216 246 2018
Mayan Yas Island Over-time 2015 8 17 411 739 512 80 0 - 739 2019
Yas AcresYas Island Over-time 2016 11 46 432 1605 652 66 4 70 1535 2020
The
Bridges Shams Abu Dhabi Over-time 2017 556 562 556 562 636 87 0 - 562 2020
Aldar developments 577 630 2857 6344 3417 84 2257 4087
West Yas Yas Island na 2015 31 141 598 2674 1017 59 2018
Total developments 608 771 3455 9018 4434 78
FINANCIAL STATEMENTS ndash PROFIT AND LOSS
19
NB
Q2 2016 included a
significant Shams land
transaction (Revenue
AED 524 million and
gross profit of AED
196 million)
Q-o-Q Y-o-Y
AED millions Q2 2017 Q2 20162017
YTD
2016
YTD
Revenues 1354 1696 2932 2928
Direct costs (812) (1003) (1637) (1694)
Gross profit 542 693 1295 1234
Gross profit Margin 40 41 44 42
SGampA expenses (94) (90) (180) (192)
Depreciation and Amortization (48) (52) (98) (101)
Gain on disposals - 1 - 15
Share of profit from associates JVs 12 16 28 34
Other Income 289 172 372 426
Finance expense (62) (59) (123) (118)
Finance income 27 30 59 58
Fair value gains (losses) provision reversal
for impairments(45) (56) (92) (49)
Net Profit for the period 620 654 1261 1308
Attributable to
Owners of the Company 620 657 1256 1306
Non-controlling interests - (3) 5 2
Profit for the period 620 654 1261 1308
Basic and diluted earnings per share (fils) 79 84 160 166
FINANCIAL STATEMENTS ndash BALANCE SHEET
20
Q-o-Q Y-o-Y
AED millions As at
30 Jun 2017
As at
31 Mar 2017
As at
31 Dec 2016
As at
31 Dec 2015
Property plant and equipment 2909 2951 2986 2936
Investment properties 15829 15770 15773 15570
Development work in progress 1470 1391 1298 2745
Inventory 2512 2519 2449 2030
Receivables 5279 5057 5263 5535
Cash 5944 6975 6696 6260
Other Assets 1084 1084 1096 1065
Total Assets 35029 35747 35561 36141
Equity 22455 21865 22086 20288
Debt 5495 5519 5564 5947
Payables Advances and Other Liabilities 7079 8363 7911 9906
Total Liabilities and Equity 35029 35747 35561 36141
sup1 Recurring revenues assets include Investment Properties Hospitality amp Leisure Operative Villages Schools (Aldar Academies) and Property amp Facilities Management (PFM) (Khidmah)
Q2 2017 recurring revenues excludes Pivot revenue of AED217m (Q2 2016 revenue AED179m Q1 2017 revenue AED262m)
Q2 2017 recurring revenues gross profit excludes Pivot gross loss of AED1m (Q2 2016 gross loss AED19m Q1 2017 gross profit AED5m)
Q2 2017 recurring revenues gross profit of AED 357 million (Q2 2016 AED381 million Q1 2017 AED 402 million) sup1
21
419
101
5
360
41
429 425
112
28
320
27
783
429
131
4
419
60
534
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
Q2 2017 Segmental Revenue Performance
Q2 2017 Q2 2016 Q1 2017
AE
D M
illio
ns
Q2 2017 recurring revenues of AED 666 million (Q2 2016 AED 706 million Q1 2017 AED 723 million) sup1
(1)
QUARTERLY SEGMENTAL ANALYSIS
Q2 2016 property development revenue
includes AED 524 million Shams land sale
338
6 5 7 32
154
349
11 4 21
309 355
29 4 19
58
289
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
Q2 2017 Segmental Gross Profit Performance
Q2 2017 Q2 2016 Q1 2017
AE
D M
illio
ns
Q2 2016 property development gross profit
includes AED 196 million Shams land sale
sup1 Recurring revenues assets include Investment Properties Hospitality amp Leisure Operative Villages Schools (Aldar Academies) and Property amp Facilities Management (PFM) (Khidmah)
H1 2017 recurring revenues excludes Pivot revenue of AED479m (H1 2016 revenue AED347m)
H1 2017 recurring revenue gross profit excludes Pivot gross profit of AED3m (H1 2016 gross loss AED11m) 22
848
232 9
779
101
963 866
258 66
611
64
1063
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
2017 YTD Segmental Revenue Performance
2017 YTD 2016 YTD
AE
D M
illio
ns
H1 2017 recurring revenues of AED 1389 million (H1 2016 AED 1455 million) sup1
693
34 9 26 90
443
705
47 14 22 53
394
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
2017 YTD Segmental Gross Profit Performance
2017 YTD 2016 YTD
AE
D M
illio
ns
H1 2017 recurring revenues gross profit of AED 759 million (H1 2016 AED 799 million) sup1
HALF YEARLY SEGMENTAL ANALYSIS
23
sup1 Al Raha Beach land plot handed over in Q3 2016
sup2 Cash flow timing depends on handover of related assets
sup3 On-balance sheet infrastructure recoverables outstanding as at 30 Jun 17
⁴ Additional infrastructure reimbursement submissions made to Government of Abu Dhabi subject to approval
Remaining cash inflows Remaining
PampL events
Transaction (AEDm) H2 2017 2018 Total Other income
Sale of F1 Race Track 348 - 348 -
Sale of Al Raha Beach Land sup1 190 475 665 -
Shams Infrastructure Reimbursement sup2 300 - 300 300
838 475 1313 300
Infrastructure recoverables na na 500sup3-800 300⁴
1813-2113 600
GOVERNMENT TRANSACTIONS
THANK YOU
Now follow us on
Q2 2017 ASSET MANAGEMENT HIGHLIGHTS
11
Residential
bull Occupancy maintained at 90
bull Bulk lease demand
Retail
bull Yas Mall 94 trading occupancy
bull First renewals process underway
bull Successful Eid Al Fitr sales event ndash 250000 visitors to Yas Mall over 24 hour period
Office
bull Occupancy stands at 92 as at 30 June 2017
Hotels
bull 78 occupancy YTD (2016 YTD 76) versus wider Abu Dhabi market at 70 sup1
sup1 Source ADTCA June 2017 YTD hospitality sector occupancy
INVESTMENT PLAN FULLY COMMITTED
12
26
2327
12
11
Diverse investment across all key asset classes
Hotels Retail Residential Office Schools
bull AED 3 billion investment plan fully committed
bull To produce a stabilized AED 300 million NOI
bull Continue to monitor opportunities in the market
Daman House acquired in Dec 2015
Al Jimi Mall extension and renovation
FINANCIAL HIGHLIGHTS
Greg Fewer Chief Financial Officer
Q2 2017 FINANCIAL HIGHLIGHTS ndash INCOME STATEMENT
14
Key highlights
bull Excluding significant land transaction in Q2 2016 underlying revenue and gross profit growth driven by
bull increased revenue recognition on off-plan property development ndash property development revenue
recognition up 64 to AED 429 million
bull modest decrease in recurring revenues ndash defensive qualities of investment property portfolio saw gross
profit fall by only 3 year-on-year
bull Other income supported by infrastructure recoverable writebacks during the quarter
bull Additional submissions for infrastructure reimbursements ndash AED 300-600 million left to be recognize
Q2 2017 FINANCIAL HIGHLIGHTS ndash BALANCE SHEET
15
Strong cash position
bull AED 59 billion gross cash including AED 13 billion in restricted and AED 09 billion escrow accounts
respectively
Prudent debt position
bull AED 55 billion gross debt at 30 June 2017
bull Next debt maturity in December 2018 - $750 million sukuk
Government receivables
bull Remaining AED 13 billion to receive over H2 2017-2018 ndash AED 95 million collected during the quarter
bull Further AED 300 million on-balance sheet infrastructure receivables as at 30 Jun 2017
bull Additional infrastructure submissions could lead to further receivables
SUMMARY
16
Development Management
bull Strong activity on the ground
bull Success of The Bridges ndash focus around high-quality mid-market
bull Destination Yas Island ndash new investments underway
bull 1500 unit guidance remains
Asset Management
bull Resilient operational performance remain well positioned in all key sectors
bull Maintain AED 16 billion NOI guidance ndash Q4 hospitality performance key
Financial
bull Strong balance sheet position
APPENDIX
Now follow us on
18
sup1 Sold units and sold units sales value includes all units where a sales purchase agreement (ldquocontractrdquo) has been signed This does not include sales reservations and pending sales contracts Total units and values as at period end are net of fully cancellations
DEVELOPMENT SUMMARY TABLE ndash 30 JUN 17
Project Location Recognition Launch Q2 2017 Total as at 30 Jun 2017 Expected
completion date Sold
units sup1
Sold unit sales
value (AEDm)
sup1
Sold
units sup1
Sold unit
sales value
(AEDm) sup1
Units
launched
sold Revenue
recognition
Revenue
recognised
Revenue
backlog
Ansam Yas Island Over-time 2014 2 5 506 845 547 93 80 676 168 2017
Hadeel Al Raha Beach Over-time 2014 - - 214 426 233 92 82 349 77 2017
Nareel Abu Dhabi Island Over-time 2015 - - 86 1097 148 58 72 785 312 2017
Merief Khalifa City Over-time 2015 - - 281 609 281 100 26 161 448 2018
Meera Shams Abu Dhabi Over-time 2015 - - 371 461 408 91 47 216 246 2018
Mayan Yas Island Over-time 2015 8 17 411 739 512 80 0 - 739 2019
Yas AcresYas Island Over-time 2016 11 46 432 1605 652 66 4 70 1535 2020
The
Bridges Shams Abu Dhabi Over-time 2017 556 562 556 562 636 87 0 - 562 2020
Aldar developments 577 630 2857 6344 3417 84 2257 4087
West Yas Yas Island na 2015 31 141 598 2674 1017 59 2018
Total developments 608 771 3455 9018 4434 78
FINANCIAL STATEMENTS ndash PROFIT AND LOSS
19
NB
Q2 2016 included a
significant Shams land
transaction (Revenue
AED 524 million and
gross profit of AED
196 million)
Q-o-Q Y-o-Y
AED millions Q2 2017 Q2 20162017
YTD
2016
YTD
Revenues 1354 1696 2932 2928
Direct costs (812) (1003) (1637) (1694)
Gross profit 542 693 1295 1234
Gross profit Margin 40 41 44 42
SGampA expenses (94) (90) (180) (192)
Depreciation and Amortization (48) (52) (98) (101)
Gain on disposals - 1 - 15
Share of profit from associates JVs 12 16 28 34
Other Income 289 172 372 426
Finance expense (62) (59) (123) (118)
Finance income 27 30 59 58
Fair value gains (losses) provision reversal
for impairments(45) (56) (92) (49)
Net Profit for the period 620 654 1261 1308
Attributable to
Owners of the Company 620 657 1256 1306
Non-controlling interests - (3) 5 2
Profit for the period 620 654 1261 1308
Basic and diluted earnings per share (fils) 79 84 160 166
FINANCIAL STATEMENTS ndash BALANCE SHEET
20
Q-o-Q Y-o-Y
AED millions As at
30 Jun 2017
As at
31 Mar 2017
As at
31 Dec 2016
As at
31 Dec 2015
Property plant and equipment 2909 2951 2986 2936
Investment properties 15829 15770 15773 15570
Development work in progress 1470 1391 1298 2745
Inventory 2512 2519 2449 2030
Receivables 5279 5057 5263 5535
Cash 5944 6975 6696 6260
Other Assets 1084 1084 1096 1065
Total Assets 35029 35747 35561 36141
Equity 22455 21865 22086 20288
Debt 5495 5519 5564 5947
Payables Advances and Other Liabilities 7079 8363 7911 9906
Total Liabilities and Equity 35029 35747 35561 36141
sup1 Recurring revenues assets include Investment Properties Hospitality amp Leisure Operative Villages Schools (Aldar Academies) and Property amp Facilities Management (PFM) (Khidmah)
Q2 2017 recurring revenues excludes Pivot revenue of AED217m (Q2 2016 revenue AED179m Q1 2017 revenue AED262m)
Q2 2017 recurring revenues gross profit excludes Pivot gross loss of AED1m (Q2 2016 gross loss AED19m Q1 2017 gross profit AED5m)
Q2 2017 recurring revenues gross profit of AED 357 million (Q2 2016 AED381 million Q1 2017 AED 402 million) sup1
21
419
101
5
360
41
429 425
112
28
320
27
783
429
131
4
419
60
534
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
Q2 2017 Segmental Revenue Performance
Q2 2017 Q2 2016 Q1 2017
AE
D M
illio
ns
Q2 2017 recurring revenues of AED 666 million (Q2 2016 AED 706 million Q1 2017 AED 723 million) sup1
(1)
QUARTERLY SEGMENTAL ANALYSIS
Q2 2016 property development revenue
includes AED 524 million Shams land sale
338
6 5 7 32
154
349
11 4 21
309 355
29 4 19
58
289
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
Q2 2017 Segmental Gross Profit Performance
Q2 2017 Q2 2016 Q1 2017
AE
D M
illio
ns
Q2 2016 property development gross profit
includes AED 196 million Shams land sale
sup1 Recurring revenues assets include Investment Properties Hospitality amp Leisure Operative Villages Schools (Aldar Academies) and Property amp Facilities Management (PFM) (Khidmah)
H1 2017 recurring revenues excludes Pivot revenue of AED479m (H1 2016 revenue AED347m)
H1 2017 recurring revenue gross profit excludes Pivot gross profit of AED3m (H1 2016 gross loss AED11m) 22
848
232 9
779
101
963 866
258 66
611
64
1063
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
2017 YTD Segmental Revenue Performance
2017 YTD 2016 YTD
AE
D M
illio
ns
H1 2017 recurring revenues of AED 1389 million (H1 2016 AED 1455 million) sup1
693
34 9 26 90
443
705
47 14 22 53
394
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
2017 YTD Segmental Gross Profit Performance
2017 YTD 2016 YTD
AE
D M
illio
ns
H1 2017 recurring revenues gross profit of AED 759 million (H1 2016 AED 799 million) sup1
HALF YEARLY SEGMENTAL ANALYSIS
23
sup1 Al Raha Beach land plot handed over in Q3 2016
sup2 Cash flow timing depends on handover of related assets
sup3 On-balance sheet infrastructure recoverables outstanding as at 30 Jun 17
⁴ Additional infrastructure reimbursement submissions made to Government of Abu Dhabi subject to approval
Remaining cash inflows Remaining
PampL events
Transaction (AEDm) H2 2017 2018 Total Other income
Sale of F1 Race Track 348 - 348 -
Sale of Al Raha Beach Land sup1 190 475 665 -
Shams Infrastructure Reimbursement sup2 300 - 300 300
838 475 1313 300
Infrastructure recoverables na na 500sup3-800 300⁴
1813-2113 600
GOVERNMENT TRANSACTIONS
THANK YOU
Now follow us on
INVESTMENT PLAN FULLY COMMITTED
12
26
2327
12
11
Diverse investment across all key asset classes
Hotels Retail Residential Office Schools
bull AED 3 billion investment plan fully committed
bull To produce a stabilized AED 300 million NOI
bull Continue to monitor opportunities in the market
Daman House acquired in Dec 2015
Al Jimi Mall extension and renovation
FINANCIAL HIGHLIGHTS
Greg Fewer Chief Financial Officer
Q2 2017 FINANCIAL HIGHLIGHTS ndash INCOME STATEMENT
14
Key highlights
bull Excluding significant land transaction in Q2 2016 underlying revenue and gross profit growth driven by
bull increased revenue recognition on off-plan property development ndash property development revenue
recognition up 64 to AED 429 million
bull modest decrease in recurring revenues ndash defensive qualities of investment property portfolio saw gross
profit fall by only 3 year-on-year
bull Other income supported by infrastructure recoverable writebacks during the quarter
bull Additional submissions for infrastructure reimbursements ndash AED 300-600 million left to be recognize
Q2 2017 FINANCIAL HIGHLIGHTS ndash BALANCE SHEET
15
Strong cash position
bull AED 59 billion gross cash including AED 13 billion in restricted and AED 09 billion escrow accounts
respectively
Prudent debt position
bull AED 55 billion gross debt at 30 June 2017
bull Next debt maturity in December 2018 - $750 million sukuk
Government receivables
bull Remaining AED 13 billion to receive over H2 2017-2018 ndash AED 95 million collected during the quarter
bull Further AED 300 million on-balance sheet infrastructure receivables as at 30 Jun 2017
bull Additional infrastructure submissions could lead to further receivables
SUMMARY
16
Development Management
bull Strong activity on the ground
bull Success of The Bridges ndash focus around high-quality mid-market
bull Destination Yas Island ndash new investments underway
bull 1500 unit guidance remains
Asset Management
bull Resilient operational performance remain well positioned in all key sectors
bull Maintain AED 16 billion NOI guidance ndash Q4 hospitality performance key
Financial
bull Strong balance sheet position
APPENDIX
Now follow us on
18
sup1 Sold units and sold units sales value includes all units where a sales purchase agreement (ldquocontractrdquo) has been signed This does not include sales reservations and pending sales contracts Total units and values as at period end are net of fully cancellations
DEVELOPMENT SUMMARY TABLE ndash 30 JUN 17
Project Location Recognition Launch Q2 2017 Total as at 30 Jun 2017 Expected
completion date Sold
units sup1
Sold unit sales
value (AEDm)
sup1
Sold
units sup1
Sold unit
sales value
(AEDm) sup1
Units
launched
sold Revenue
recognition
Revenue
recognised
Revenue
backlog
Ansam Yas Island Over-time 2014 2 5 506 845 547 93 80 676 168 2017
Hadeel Al Raha Beach Over-time 2014 - - 214 426 233 92 82 349 77 2017
Nareel Abu Dhabi Island Over-time 2015 - - 86 1097 148 58 72 785 312 2017
Merief Khalifa City Over-time 2015 - - 281 609 281 100 26 161 448 2018
Meera Shams Abu Dhabi Over-time 2015 - - 371 461 408 91 47 216 246 2018
Mayan Yas Island Over-time 2015 8 17 411 739 512 80 0 - 739 2019
Yas AcresYas Island Over-time 2016 11 46 432 1605 652 66 4 70 1535 2020
The
Bridges Shams Abu Dhabi Over-time 2017 556 562 556 562 636 87 0 - 562 2020
Aldar developments 577 630 2857 6344 3417 84 2257 4087
West Yas Yas Island na 2015 31 141 598 2674 1017 59 2018
Total developments 608 771 3455 9018 4434 78
FINANCIAL STATEMENTS ndash PROFIT AND LOSS
19
NB
Q2 2016 included a
significant Shams land
transaction (Revenue
AED 524 million and
gross profit of AED
196 million)
Q-o-Q Y-o-Y
AED millions Q2 2017 Q2 20162017
YTD
2016
YTD
Revenues 1354 1696 2932 2928
Direct costs (812) (1003) (1637) (1694)
Gross profit 542 693 1295 1234
Gross profit Margin 40 41 44 42
SGampA expenses (94) (90) (180) (192)
Depreciation and Amortization (48) (52) (98) (101)
Gain on disposals - 1 - 15
Share of profit from associates JVs 12 16 28 34
Other Income 289 172 372 426
Finance expense (62) (59) (123) (118)
Finance income 27 30 59 58
Fair value gains (losses) provision reversal
for impairments(45) (56) (92) (49)
Net Profit for the period 620 654 1261 1308
Attributable to
Owners of the Company 620 657 1256 1306
Non-controlling interests - (3) 5 2
Profit for the period 620 654 1261 1308
Basic and diluted earnings per share (fils) 79 84 160 166
FINANCIAL STATEMENTS ndash BALANCE SHEET
20
Q-o-Q Y-o-Y
AED millions As at
30 Jun 2017
As at
31 Mar 2017
As at
31 Dec 2016
As at
31 Dec 2015
Property plant and equipment 2909 2951 2986 2936
Investment properties 15829 15770 15773 15570
Development work in progress 1470 1391 1298 2745
Inventory 2512 2519 2449 2030
Receivables 5279 5057 5263 5535
Cash 5944 6975 6696 6260
Other Assets 1084 1084 1096 1065
Total Assets 35029 35747 35561 36141
Equity 22455 21865 22086 20288
Debt 5495 5519 5564 5947
Payables Advances and Other Liabilities 7079 8363 7911 9906
Total Liabilities and Equity 35029 35747 35561 36141
sup1 Recurring revenues assets include Investment Properties Hospitality amp Leisure Operative Villages Schools (Aldar Academies) and Property amp Facilities Management (PFM) (Khidmah)
Q2 2017 recurring revenues excludes Pivot revenue of AED217m (Q2 2016 revenue AED179m Q1 2017 revenue AED262m)
Q2 2017 recurring revenues gross profit excludes Pivot gross loss of AED1m (Q2 2016 gross loss AED19m Q1 2017 gross profit AED5m)
Q2 2017 recurring revenues gross profit of AED 357 million (Q2 2016 AED381 million Q1 2017 AED 402 million) sup1
21
419
101
5
360
41
429 425
112
28
320
27
783
429
131
4
419
60
534
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
Q2 2017 Segmental Revenue Performance
Q2 2017 Q2 2016 Q1 2017
AE
D M
illio
ns
Q2 2017 recurring revenues of AED 666 million (Q2 2016 AED 706 million Q1 2017 AED 723 million) sup1
(1)
QUARTERLY SEGMENTAL ANALYSIS
Q2 2016 property development revenue
includes AED 524 million Shams land sale
338
6 5 7 32
154
349
11 4 21
309 355
29 4 19
58
289
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
Q2 2017 Segmental Gross Profit Performance
Q2 2017 Q2 2016 Q1 2017
AE
D M
illio
ns
Q2 2016 property development gross profit
includes AED 196 million Shams land sale
sup1 Recurring revenues assets include Investment Properties Hospitality amp Leisure Operative Villages Schools (Aldar Academies) and Property amp Facilities Management (PFM) (Khidmah)
H1 2017 recurring revenues excludes Pivot revenue of AED479m (H1 2016 revenue AED347m)
H1 2017 recurring revenue gross profit excludes Pivot gross profit of AED3m (H1 2016 gross loss AED11m) 22
848
232 9
779
101
963 866
258 66
611
64
1063
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
2017 YTD Segmental Revenue Performance
2017 YTD 2016 YTD
AE
D M
illio
ns
H1 2017 recurring revenues of AED 1389 million (H1 2016 AED 1455 million) sup1
693
34 9 26 90
443
705
47 14 22 53
394
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
2017 YTD Segmental Gross Profit Performance
2017 YTD 2016 YTD
AE
D M
illio
ns
H1 2017 recurring revenues gross profit of AED 759 million (H1 2016 AED 799 million) sup1
HALF YEARLY SEGMENTAL ANALYSIS
23
sup1 Al Raha Beach land plot handed over in Q3 2016
sup2 Cash flow timing depends on handover of related assets
sup3 On-balance sheet infrastructure recoverables outstanding as at 30 Jun 17
⁴ Additional infrastructure reimbursement submissions made to Government of Abu Dhabi subject to approval
Remaining cash inflows Remaining
PampL events
Transaction (AEDm) H2 2017 2018 Total Other income
Sale of F1 Race Track 348 - 348 -
Sale of Al Raha Beach Land sup1 190 475 665 -
Shams Infrastructure Reimbursement sup2 300 - 300 300
838 475 1313 300
Infrastructure recoverables na na 500sup3-800 300⁴
1813-2113 600
GOVERNMENT TRANSACTIONS
THANK YOU
Now follow us on
FINANCIAL HIGHLIGHTS
Greg Fewer Chief Financial Officer
Q2 2017 FINANCIAL HIGHLIGHTS ndash INCOME STATEMENT
14
Key highlights
bull Excluding significant land transaction in Q2 2016 underlying revenue and gross profit growth driven by
bull increased revenue recognition on off-plan property development ndash property development revenue
recognition up 64 to AED 429 million
bull modest decrease in recurring revenues ndash defensive qualities of investment property portfolio saw gross
profit fall by only 3 year-on-year
bull Other income supported by infrastructure recoverable writebacks during the quarter
bull Additional submissions for infrastructure reimbursements ndash AED 300-600 million left to be recognize
Q2 2017 FINANCIAL HIGHLIGHTS ndash BALANCE SHEET
15
Strong cash position
bull AED 59 billion gross cash including AED 13 billion in restricted and AED 09 billion escrow accounts
respectively
Prudent debt position
bull AED 55 billion gross debt at 30 June 2017
bull Next debt maturity in December 2018 - $750 million sukuk
Government receivables
bull Remaining AED 13 billion to receive over H2 2017-2018 ndash AED 95 million collected during the quarter
bull Further AED 300 million on-balance sheet infrastructure receivables as at 30 Jun 2017
bull Additional infrastructure submissions could lead to further receivables
SUMMARY
16
Development Management
bull Strong activity on the ground
bull Success of The Bridges ndash focus around high-quality mid-market
bull Destination Yas Island ndash new investments underway
bull 1500 unit guidance remains
Asset Management
bull Resilient operational performance remain well positioned in all key sectors
bull Maintain AED 16 billion NOI guidance ndash Q4 hospitality performance key
Financial
bull Strong balance sheet position
APPENDIX
Now follow us on
18
sup1 Sold units and sold units sales value includes all units where a sales purchase agreement (ldquocontractrdquo) has been signed This does not include sales reservations and pending sales contracts Total units and values as at period end are net of fully cancellations
DEVELOPMENT SUMMARY TABLE ndash 30 JUN 17
Project Location Recognition Launch Q2 2017 Total as at 30 Jun 2017 Expected
completion date Sold
units sup1
Sold unit sales
value (AEDm)
sup1
Sold
units sup1
Sold unit
sales value
(AEDm) sup1
Units
launched
sold Revenue
recognition
Revenue
recognised
Revenue
backlog
Ansam Yas Island Over-time 2014 2 5 506 845 547 93 80 676 168 2017
Hadeel Al Raha Beach Over-time 2014 - - 214 426 233 92 82 349 77 2017
Nareel Abu Dhabi Island Over-time 2015 - - 86 1097 148 58 72 785 312 2017
Merief Khalifa City Over-time 2015 - - 281 609 281 100 26 161 448 2018
Meera Shams Abu Dhabi Over-time 2015 - - 371 461 408 91 47 216 246 2018
Mayan Yas Island Over-time 2015 8 17 411 739 512 80 0 - 739 2019
Yas AcresYas Island Over-time 2016 11 46 432 1605 652 66 4 70 1535 2020
The
Bridges Shams Abu Dhabi Over-time 2017 556 562 556 562 636 87 0 - 562 2020
Aldar developments 577 630 2857 6344 3417 84 2257 4087
West Yas Yas Island na 2015 31 141 598 2674 1017 59 2018
Total developments 608 771 3455 9018 4434 78
FINANCIAL STATEMENTS ndash PROFIT AND LOSS
19
NB
Q2 2016 included a
significant Shams land
transaction (Revenue
AED 524 million and
gross profit of AED
196 million)
Q-o-Q Y-o-Y
AED millions Q2 2017 Q2 20162017
YTD
2016
YTD
Revenues 1354 1696 2932 2928
Direct costs (812) (1003) (1637) (1694)
Gross profit 542 693 1295 1234
Gross profit Margin 40 41 44 42
SGampA expenses (94) (90) (180) (192)
Depreciation and Amortization (48) (52) (98) (101)
Gain on disposals - 1 - 15
Share of profit from associates JVs 12 16 28 34
Other Income 289 172 372 426
Finance expense (62) (59) (123) (118)
Finance income 27 30 59 58
Fair value gains (losses) provision reversal
for impairments(45) (56) (92) (49)
Net Profit for the period 620 654 1261 1308
Attributable to
Owners of the Company 620 657 1256 1306
Non-controlling interests - (3) 5 2
Profit for the period 620 654 1261 1308
Basic and diluted earnings per share (fils) 79 84 160 166
FINANCIAL STATEMENTS ndash BALANCE SHEET
20
Q-o-Q Y-o-Y
AED millions As at
30 Jun 2017
As at
31 Mar 2017
As at
31 Dec 2016
As at
31 Dec 2015
Property plant and equipment 2909 2951 2986 2936
Investment properties 15829 15770 15773 15570
Development work in progress 1470 1391 1298 2745
Inventory 2512 2519 2449 2030
Receivables 5279 5057 5263 5535
Cash 5944 6975 6696 6260
Other Assets 1084 1084 1096 1065
Total Assets 35029 35747 35561 36141
Equity 22455 21865 22086 20288
Debt 5495 5519 5564 5947
Payables Advances and Other Liabilities 7079 8363 7911 9906
Total Liabilities and Equity 35029 35747 35561 36141
sup1 Recurring revenues assets include Investment Properties Hospitality amp Leisure Operative Villages Schools (Aldar Academies) and Property amp Facilities Management (PFM) (Khidmah)
Q2 2017 recurring revenues excludes Pivot revenue of AED217m (Q2 2016 revenue AED179m Q1 2017 revenue AED262m)
Q2 2017 recurring revenues gross profit excludes Pivot gross loss of AED1m (Q2 2016 gross loss AED19m Q1 2017 gross profit AED5m)
Q2 2017 recurring revenues gross profit of AED 357 million (Q2 2016 AED381 million Q1 2017 AED 402 million) sup1
21
419
101
5
360
41
429 425
112
28
320
27
783
429
131
4
419
60
534
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
Q2 2017 Segmental Revenue Performance
Q2 2017 Q2 2016 Q1 2017
AE
D M
illio
ns
Q2 2017 recurring revenues of AED 666 million (Q2 2016 AED 706 million Q1 2017 AED 723 million) sup1
(1)
QUARTERLY SEGMENTAL ANALYSIS
Q2 2016 property development revenue
includes AED 524 million Shams land sale
338
6 5 7 32
154
349
11 4 21
309 355
29 4 19
58
289
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
Q2 2017 Segmental Gross Profit Performance
Q2 2017 Q2 2016 Q1 2017
AE
D M
illio
ns
Q2 2016 property development gross profit
includes AED 196 million Shams land sale
sup1 Recurring revenues assets include Investment Properties Hospitality amp Leisure Operative Villages Schools (Aldar Academies) and Property amp Facilities Management (PFM) (Khidmah)
H1 2017 recurring revenues excludes Pivot revenue of AED479m (H1 2016 revenue AED347m)
H1 2017 recurring revenue gross profit excludes Pivot gross profit of AED3m (H1 2016 gross loss AED11m) 22
848
232 9
779
101
963 866
258 66
611
64
1063
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
2017 YTD Segmental Revenue Performance
2017 YTD 2016 YTD
AE
D M
illio
ns
H1 2017 recurring revenues of AED 1389 million (H1 2016 AED 1455 million) sup1
693
34 9 26 90
443
705
47 14 22 53
394
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
2017 YTD Segmental Gross Profit Performance
2017 YTD 2016 YTD
AE
D M
illio
ns
H1 2017 recurring revenues gross profit of AED 759 million (H1 2016 AED 799 million) sup1
HALF YEARLY SEGMENTAL ANALYSIS
23
sup1 Al Raha Beach land plot handed over in Q3 2016
sup2 Cash flow timing depends on handover of related assets
sup3 On-balance sheet infrastructure recoverables outstanding as at 30 Jun 17
⁴ Additional infrastructure reimbursement submissions made to Government of Abu Dhabi subject to approval
Remaining cash inflows Remaining
PampL events
Transaction (AEDm) H2 2017 2018 Total Other income
Sale of F1 Race Track 348 - 348 -
Sale of Al Raha Beach Land sup1 190 475 665 -
Shams Infrastructure Reimbursement sup2 300 - 300 300
838 475 1313 300
Infrastructure recoverables na na 500sup3-800 300⁴
1813-2113 600
GOVERNMENT TRANSACTIONS
THANK YOU
Now follow us on
Q2 2017 FINANCIAL HIGHLIGHTS ndash INCOME STATEMENT
14
Key highlights
bull Excluding significant land transaction in Q2 2016 underlying revenue and gross profit growth driven by
bull increased revenue recognition on off-plan property development ndash property development revenue
recognition up 64 to AED 429 million
bull modest decrease in recurring revenues ndash defensive qualities of investment property portfolio saw gross
profit fall by only 3 year-on-year
bull Other income supported by infrastructure recoverable writebacks during the quarter
bull Additional submissions for infrastructure reimbursements ndash AED 300-600 million left to be recognize
Q2 2017 FINANCIAL HIGHLIGHTS ndash BALANCE SHEET
15
Strong cash position
bull AED 59 billion gross cash including AED 13 billion in restricted and AED 09 billion escrow accounts
respectively
Prudent debt position
bull AED 55 billion gross debt at 30 June 2017
bull Next debt maturity in December 2018 - $750 million sukuk
Government receivables
bull Remaining AED 13 billion to receive over H2 2017-2018 ndash AED 95 million collected during the quarter
bull Further AED 300 million on-balance sheet infrastructure receivables as at 30 Jun 2017
bull Additional infrastructure submissions could lead to further receivables
SUMMARY
16
Development Management
bull Strong activity on the ground
bull Success of The Bridges ndash focus around high-quality mid-market
bull Destination Yas Island ndash new investments underway
bull 1500 unit guidance remains
Asset Management
bull Resilient operational performance remain well positioned in all key sectors
bull Maintain AED 16 billion NOI guidance ndash Q4 hospitality performance key
Financial
bull Strong balance sheet position
APPENDIX
Now follow us on
18
sup1 Sold units and sold units sales value includes all units where a sales purchase agreement (ldquocontractrdquo) has been signed This does not include sales reservations and pending sales contracts Total units and values as at period end are net of fully cancellations
DEVELOPMENT SUMMARY TABLE ndash 30 JUN 17
Project Location Recognition Launch Q2 2017 Total as at 30 Jun 2017 Expected
completion date Sold
units sup1
Sold unit sales
value (AEDm)
sup1
Sold
units sup1
Sold unit
sales value
(AEDm) sup1
Units
launched
sold Revenue
recognition
Revenue
recognised
Revenue
backlog
Ansam Yas Island Over-time 2014 2 5 506 845 547 93 80 676 168 2017
Hadeel Al Raha Beach Over-time 2014 - - 214 426 233 92 82 349 77 2017
Nareel Abu Dhabi Island Over-time 2015 - - 86 1097 148 58 72 785 312 2017
Merief Khalifa City Over-time 2015 - - 281 609 281 100 26 161 448 2018
Meera Shams Abu Dhabi Over-time 2015 - - 371 461 408 91 47 216 246 2018
Mayan Yas Island Over-time 2015 8 17 411 739 512 80 0 - 739 2019
Yas AcresYas Island Over-time 2016 11 46 432 1605 652 66 4 70 1535 2020
The
Bridges Shams Abu Dhabi Over-time 2017 556 562 556 562 636 87 0 - 562 2020
Aldar developments 577 630 2857 6344 3417 84 2257 4087
West Yas Yas Island na 2015 31 141 598 2674 1017 59 2018
Total developments 608 771 3455 9018 4434 78
FINANCIAL STATEMENTS ndash PROFIT AND LOSS
19
NB
Q2 2016 included a
significant Shams land
transaction (Revenue
AED 524 million and
gross profit of AED
196 million)
Q-o-Q Y-o-Y
AED millions Q2 2017 Q2 20162017
YTD
2016
YTD
Revenues 1354 1696 2932 2928
Direct costs (812) (1003) (1637) (1694)
Gross profit 542 693 1295 1234
Gross profit Margin 40 41 44 42
SGampA expenses (94) (90) (180) (192)
Depreciation and Amortization (48) (52) (98) (101)
Gain on disposals - 1 - 15
Share of profit from associates JVs 12 16 28 34
Other Income 289 172 372 426
Finance expense (62) (59) (123) (118)
Finance income 27 30 59 58
Fair value gains (losses) provision reversal
for impairments(45) (56) (92) (49)
Net Profit for the period 620 654 1261 1308
Attributable to
Owners of the Company 620 657 1256 1306
Non-controlling interests - (3) 5 2
Profit for the period 620 654 1261 1308
Basic and diluted earnings per share (fils) 79 84 160 166
FINANCIAL STATEMENTS ndash BALANCE SHEET
20
Q-o-Q Y-o-Y
AED millions As at
30 Jun 2017
As at
31 Mar 2017
As at
31 Dec 2016
As at
31 Dec 2015
Property plant and equipment 2909 2951 2986 2936
Investment properties 15829 15770 15773 15570
Development work in progress 1470 1391 1298 2745
Inventory 2512 2519 2449 2030
Receivables 5279 5057 5263 5535
Cash 5944 6975 6696 6260
Other Assets 1084 1084 1096 1065
Total Assets 35029 35747 35561 36141
Equity 22455 21865 22086 20288
Debt 5495 5519 5564 5947
Payables Advances and Other Liabilities 7079 8363 7911 9906
Total Liabilities and Equity 35029 35747 35561 36141
sup1 Recurring revenues assets include Investment Properties Hospitality amp Leisure Operative Villages Schools (Aldar Academies) and Property amp Facilities Management (PFM) (Khidmah)
Q2 2017 recurring revenues excludes Pivot revenue of AED217m (Q2 2016 revenue AED179m Q1 2017 revenue AED262m)
Q2 2017 recurring revenues gross profit excludes Pivot gross loss of AED1m (Q2 2016 gross loss AED19m Q1 2017 gross profit AED5m)
Q2 2017 recurring revenues gross profit of AED 357 million (Q2 2016 AED381 million Q1 2017 AED 402 million) sup1
21
419
101
5
360
41
429 425
112
28
320
27
783
429
131
4
419
60
534
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
Q2 2017 Segmental Revenue Performance
Q2 2017 Q2 2016 Q1 2017
AE
D M
illio
ns
Q2 2017 recurring revenues of AED 666 million (Q2 2016 AED 706 million Q1 2017 AED 723 million) sup1
(1)
QUARTERLY SEGMENTAL ANALYSIS
Q2 2016 property development revenue
includes AED 524 million Shams land sale
338
6 5 7 32
154
349
11 4 21
309 355
29 4 19
58
289
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
Q2 2017 Segmental Gross Profit Performance
Q2 2017 Q2 2016 Q1 2017
AE
D M
illio
ns
Q2 2016 property development gross profit
includes AED 196 million Shams land sale
sup1 Recurring revenues assets include Investment Properties Hospitality amp Leisure Operative Villages Schools (Aldar Academies) and Property amp Facilities Management (PFM) (Khidmah)
H1 2017 recurring revenues excludes Pivot revenue of AED479m (H1 2016 revenue AED347m)
H1 2017 recurring revenue gross profit excludes Pivot gross profit of AED3m (H1 2016 gross loss AED11m) 22
848
232 9
779
101
963 866
258 66
611
64
1063
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
2017 YTD Segmental Revenue Performance
2017 YTD 2016 YTD
AE
D M
illio
ns
H1 2017 recurring revenues of AED 1389 million (H1 2016 AED 1455 million) sup1
693
34 9 26 90
443
705
47 14 22 53
394
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
2017 YTD Segmental Gross Profit Performance
2017 YTD 2016 YTD
AE
D M
illio
ns
H1 2017 recurring revenues gross profit of AED 759 million (H1 2016 AED 799 million) sup1
HALF YEARLY SEGMENTAL ANALYSIS
23
sup1 Al Raha Beach land plot handed over in Q3 2016
sup2 Cash flow timing depends on handover of related assets
sup3 On-balance sheet infrastructure recoverables outstanding as at 30 Jun 17
⁴ Additional infrastructure reimbursement submissions made to Government of Abu Dhabi subject to approval
Remaining cash inflows Remaining
PampL events
Transaction (AEDm) H2 2017 2018 Total Other income
Sale of F1 Race Track 348 - 348 -
Sale of Al Raha Beach Land sup1 190 475 665 -
Shams Infrastructure Reimbursement sup2 300 - 300 300
838 475 1313 300
Infrastructure recoverables na na 500sup3-800 300⁴
1813-2113 600
GOVERNMENT TRANSACTIONS
THANK YOU
Now follow us on
Q2 2017 FINANCIAL HIGHLIGHTS ndash BALANCE SHEET
15
Strong cash position
bull AED 59 billion gross cash including AED 13 billion in restricted and AED 09 billion escrow accounts
respectively
Prudent debt position
bull AED 55 billion gross debt at 30 June 2017
bull Next debt maturity in December 2018 - $750 million sukuk
Government receivables
bull Remaining AED 13 billion to receive over H2 2017-2018 ndash AED 95 million collected during the quarter
bull Further AED 300 million on-balance sheet infrastructure receivables as at 30 Jun 2017
bull Additional infrastructure submissions could lead to further receivables
SUMMARY
16
Development Management
bull Strong activity on the ground
bull Success of The Bridges ndash focus around high-quality mid-market
bull Destination Yas Island ndash new investments underway
bull 1500 unit guidance remains
Asset Management
bull Resilient operational performance remain well positioned in all key sectors
bull Maintain AED 16 billion NOI guidance ndash Q4 hospitality performance key
Financial
bull Strong balance sheet position
APPENDIX
Now follow us on
18
sup1 Sold units and sold units sales value includes all units where a sales purchase agreement (ldquocontractrdquo) has been signed This does not include sales reservations and pending sales contracts Total units and values as at period end are net of fully cancellations
DEVELOPMENT SUMMARY TABLE ndash 30 JUN 17
Project Location Recognition Launch Q2 2017 Total as at 30 Jun 2017 Expected
completion date Sold
units sup1
Sold unit sales
value (AEDm)
sup1
Sold
units sup1
Sold unit
sales value
(AEDm) sup1
Units
launched
sold Revenue
recognition
Revenue
recognised
Revenue
backlog
Ansam Yas Island Over-time 2014 2 5 506 845 547 93 80 676 168 2017
Hadeel Al Raha Beach Over-time 2014 - - 214 426 233 92 82 349 77 2017
Nareel Abu Dhabi Island Over-time 2015 - - 86 1097 148 58 72 785 312 2017
Merief Khalifa City Over-time 2015 - - 281 609 281 100 26 161 448 2018
Meera Shams Abu Dhabi Over-time 2015 - - 371 461 408 91 47 216 246 2018
Mayan Yas Island Over-time 2015 8 17 411 739 512 80 0 - 739 2019
Yas AcresYas Island Over-time 2016 11 46 432 1605 652 66 4 70 1535 2020
The
Bridges Shams Abu Dhabi Over-time 2017 556 562 556 562 636 87 0 - 562 2020
Aldar developments 577 630 2857 6344 3417 84 2257 4087
West Yas Yas Island na 2015 31 141 598 2674 1017 59 2018
Total developments 608 771 3455 9018 4434 78
FINANCIAL STATEMENTS ndash PROFIT AND LOSS
19
NB
Q2 2016 included a
significant Shams land
transaction (Revenue
AED 524 million and
gross profit of AED
196 million)
Q-o-Q Y-o-Y
AED millions Q2 2017 Q2 20162017
YTD
2016
YTD
Revenues 1354 1696 2932 2928
Direct costs (812) (1003) (1637) (1694)
Gross profit 542 693 1295 1234
Gross profit Margin 40 41 44 42
SGampA expenses (94) (90) (180) (192)
Depreciation and Amortization (48) (52) (98) (101)
Gain on disposals - 1 - 15
Share of profit from associates JVs 12 16 28 34
Other Income 289 172 372 426
Finance expense (62) (59) (123) (118)
Finance income 27 30 59 58
Fair value gains (losses) provision reversal
for impairments(45) (56) (92) (49)
Net Profit for the period 620 654 1261 1308
Attributable to
Owners of the Company 620 657 1256 1306
Non-controlling interests - (3) 5 2
Profit for the period 620 654 1261 1308
Basic and diluted earnings per share (fils) 79 84 160 166
FINANCIAL STATEMENTS ndash BALANCE SHEET
20
Q-o-Q Y-o-Y
AED millions As at
30 Jun 2017
As at
31 Mar 2017
As at
31 Dec 2016
As at
31 Dec 2015
Property plant and equipment 2909 2951 2986 2936
Investment properties 15829 15770 15773 15570
Development work in progress 1470 1391 1298 2745
Inventory 2512 2519 2449 2030
Receivables 5279 5057 5263 5535
Cash 5944 6975 6696 6260
Other Assets 1084 1084 1096 1065
Total Assets 35029 35747 35561 36141
Equity 22455 21865 22086 20288
Debt 5495 5519 5564 5947
Payables Advances and Other Liabilities 7079 8363 7911 9906
Total Liabilities and Equity 35029 35747 35561 36141
sup1 Recurring revenues assets include Investment Properties Hospitality amp Leisure Operative Villages Schools (Aldar Academies) and Property amp Facilities Management (PFM) (Khidmah)
Q2 2017 recurring revenues excludes Pivot revenue of AED217m (Q2 2016 revenue AED179m Q1 2017 revenue AED262m)
Q2 2017 recurring revenues gross profit excludes Pivot gross loss of AED1m (Q2 2016 gross loss AED19m Q1 2017 gross profit AED5m)
Q2 2017 recurring revenues gross profit of AED 357 million (Q2 2016 AED381 million Q1 2017 AED 402 million) sup1
21
419
101
5
360
41
429 425
112
28
320
27
783
429
131
4
419
60
534
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
Q2 2017 Segmental Revenue Performance
Q2 2017 Q2 2016 Q1 2017
AE
D M
illio
ns
Q2 2017 recurring revenues of AED 666 million (Q2 2016 AED 706 million Q1 2017 AED 723 million) sup1
(1)
QUARTERLY SEGMENTAL ANALYSIS
Q2 2016 property development revenue
includes AED 524 million Shams land sale
338
6 5 7 32
154
349
11 4 21
309 355
29 4 19
58
289
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
Q2 2017 Segmental Gross Profit Performance
Q2 2017 Q2 2016 Q1 2017
AE
D M
illio
ns
Q2 2016 property development gross profit
includes AED 196 million Shams land sale
sup1 Recurring revenues assets include Investment Properties Hospitality amp Leisure Operative Villages Schools (Aldar Academies) and Property amp Facilities Management (PFM) (Khidmah)
H1 2017 recurring revenues excludes Pivot revenue of AED479m (H1 2016 revenue AED347m)
H1 2017 recurring revenue gross profit excludes Pivot gross profit of AED3m (H1 2016 gross loss AED11m) 22
848
232 9
779
101
963 866
258 66
611
64
1063
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
2017 YTD Segmental Revenue Performance
2017 YTD 2016 YTD
AE
D M
illio
ns
H1 2017 recurring revenues of AED 1389 million (H1 2016 AED 1455 million) sup1
693
34 9 26 90
443
705
47 14 22 53
394
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
2017 YTD Segmental Gross Profit Performance
2017 YTD 2016 YTD
AE
D M
illio
ns
H1 2017 recurring revenues gross profit of AED 759 million (H1 2016 AED 799 million) sup1
HALF YEARLY SEGMENTAL ANALYSIS
23
sup1 Al Raha Beach land plot handed over in Q3 2016
sup2 Cash flow timing depends on handover of related assets
sup3 On-balance sheet infrastructure recoverables outstanding as at 30 Jun 17
⁴ Additional infrastructure reimbursement submissions made to Government of Abu Dhabi subject to approval
Remaining cash inflows Remaining
PampL events
Transaction (AEDm) H2 2017 2018 Total Other income
Sale of F1 Race Track 348 - 348 -
Sale of Al Raha Beach Land sup1 190 475 665 -
Shams Infrastructure Reimbursement sup2 300 - 300 300
838 475 1313 300
Infrastructure recoverables na na 500sup3-800 300⁴
1813-2113 600
GOVERNMENT TRANSACTIONS
THANK YOU
Now follow us on
SUMMARY
16
Development Management
bull Strong activity on the ground
bull Success of The Bridges ndash focus around high-quality mid-market
bull Destination Yas Island ndash new investments underway
bull 1500 unit guidance remains
Asset Management
bull Resilient operational performance remain well positioned in all key sectors
bull Maintain AED 16 billion NOI guidance ndash Q4 hospitality performance key
Financial
bull Strong balance sheet position
APPENDIX
Now follow us on
18
sup1 Sold units and sold units sales value includes all units where a sales purchase agreement (ldquocontractrdquo) has been signed This does not include sales reservations and pending sales contracts Total units and values as at period end are net of fully cancellations
DEVELOPMENT SUMMARY TABLE ndash 30 JUN 17
Project Location Recognition Launch Q2 2017 Total as at 30 Jun 2017 Expected
completion date Sold
units sup1
Sold unit sales
value (AEDm)
sup1
Sold
units sup1
Sold unit
sales value
(AEDm) sup1
Units
launched
sold Revenue
recognition
Revenue
recognised
Revenue
backlog
Ansam Yas Island Over-time 2014 2 5 506 845 547 93 80 676 168 2017
Hadeel Al Raha Beach Over-time 2014 - - 214 426 233 92 82 349 77 2017
Nareel Abu Dhabi Island Over-time 2015 - - 86 1097 148 58 72 785 312 2017
Merief Khalifa City Over-time 2015 - - 281 609 281 100 26 161 448 2018
Meera Shams Abu Dhabi Over-time 2015 - - 371 461 408 91 47 216 246 2018
Mayan Yas Island Over-time 2015 8 17 411 739 512 80 0 - 739 2019
Yas AcresYas Island Over-time 2016 11 46 432 1605 652 66 4 70 1535 2020
The
Bridges Shams Abu Dhabi Over-time 2017 556 562 556 562 636 87 0 - 562 2020
Aldar developments 577 630 2857 6344 3417 84 2257 4087
West Yas Yas Island na 2015 31 141 598 2674 1017 59 2018
Total developments 608 771 3455 9018 4434 78
FINANCIAL STATEMENTS ndash PROFIT AND LOSS
19
NB
Q2 2016 included a
significant Shams land
transaction (Revenue
AED 524 million and
gross profit of AED
196 million)
Q-o-Q Y-o-Y
AED millions Q2 2017 Q2 20162017
YTD
2016
YTD
Revenues 1354 1696 2932 2928
Direct costs (812) (1003) (1637) (1694)
Gross profit 542 693 1295 1234
Gross profit Margin 40 41 44 42
SGampA expenses (94) (90) (180) (192)
Depreciation and Amortization (48) (52) (98) (101)
Gain on disposals - 1 - 15
Share of profit from associates JVs 12 16 28 34
Other Income 289 172 372 426
Finance expense (62) (59) (123) (118)
Finance income 27 30 59 58
Fair value gains (losses) provision reversal
for impairments(45) (56) (92) (49)
Net Profit for the period 620 654 1261 1308
Attributable to
Owners of the Company 620 657 1256 1306
Non-controlling interests - (3) 5 2
Profit for the period 620 654 1261 1308
Basic and diluted earnings per share (fils) 79 84 160 166
FINANCIAL STATEMENTS ndash BALANCE SHEET
20
Q-o-Q Y-o-Y
AED millions As at
30 Jun 2017
As at
31 Mar 2017
As at
31 Dec 2016
As at
31 Dec 2015
Property plant and equipment 2909 2951 2986 2936
Investment properties 15829 15770 15773 15570
Development work in progress 1470 1391 1298 2745
Inventory 2512 2519 2449 2030
Receivables 5279 5057 5263 5535
Cash 5944 6975 6696 6260
Other Assets 1084 1084 1096 1065
Total Assets 35029 35747 35561 36141
Equity 22455 21865 22086 20288
Debt 5495 5519 5564 5947
Payables Advances and Other Liabilities 7079 8363 7911 9906
Total Liabilities and Equity 35029 35747 35561 36141
sup1 Recurring revenues assets include Investment Properties Hospitality amp Leisure Operative Villages Schools (Aldar Academies) and Property amp Facilities Management (PFM) (Khidmah)
Q2 2017 recurring revenues excludes Pivot revenue of AED217m (Q2 2016 revenue AED179m Q1 2017 revenue AED262m)
Q2 2017 recurring revenues gross profit excludes Pivot gross loss of AED1m (Q2 2016 gross loss AED19m Q1 2017 gross profit AED5m)
Q2 2017 recurring revenues gross profit of AED 357 million (Q2 2016 AED381 million Q1 2017 AED 402 million) sup1
21
419
101
5
360
41
429 425
112
28
320
27
783
429
131
4
419
60
534
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
Q2 2017 Segmental Revenue Performance
Q2 2017 Q2 2016 Q1 2017
AE
D M
illio
ns
Q2 2017 recurring revenues of AED 666 million (Q2 2016 AED 706 million Q1 2017 AED 723 million) sup1
(1)
QUARTERLY SEGMENTAL ANALYSIS
Q2 2016 property development revenue
includes AED 524 million Shams land sale
338
6 5 7 32
154
349
11 4 21
309 355
29 4 19
58
289
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
Q2 2017 Segmental Gross Profit Performance
Q2 2017 Q2 2016 Q1 2017
AE
D M
illio
ns
Q2 2016 property development gross profit
includes AED 196 million Shams land sale
sup1 Recurring revenues assets include Investment Properties Hospitality amp Leisure Operative Villages Schools (Aldar Academies) and Property amp Facilities Management (PFM) (Khidmah)
H1 2017 recurring revenues excludes Pivot revenue of AED479m (H1 2016 revenue AED347m)
H1 2017 recurring revenue gross profit excludes Pivot gross profit of AED3m (H1 2016 gross loss AED11m) 22
848
232 9
779
101
963 866
258 66
611
64
1063
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
2017 YTD Segmental Revenue Performance
2017 YTD 2016 YTD
AE
D M
illio
ns
H1 2017 recurring revenues of AED 1389 million (H1 2016 AED 1455 million) sup1
693
34 9 26 90
443
705
47 14 22 53
394
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
2017 YTD Segmental Gross Profit Performance
2017 YTD 2016 YTD
AE
D M
illio
ns
H1 2017 recurring revenues gross profit of AED 759 million (H1 2016 AED 799 million) sup1
HALF YEARLY SEGMENTAL ANALYSIS
23
sup1 Al Raha Beach land plot handed over in Q3 2016
sup2 Cash flow timing depends on handover of related assets
sup3 On-balance sheet infrastructure recoverables outstanding as at 30 Jun 17
⁴ Additional infrastructure reimbursement submissions made to Government of Abu Dhabi subject to approval
Remaining cash inflows Remaining
PampL events
Transaction (AEDm) H2 2017 2018 Total Other income
Sale of F1 Race Track 348 - 348 -
Sale of Al Raha Beach Land sup1 190 475 665 -
Shams Infrastructure Reimbursement sup2 300 - 300 300
838 475 1313 300
Infrastructure recoverables na na 500sup3-800 300⁴
1813-2113 600
GOVERNMENT TRANSACTIONS
THANK YOU
Now follow us on
APPENDIX
Now follow us on
18
sup1 Sold units and sold units sales value includes all units where a sales purchase agreement (ldquocontractrdquo) has been signed This does not include sales reservations and pending sales contracts Total units and values as at period end are net of fully cancellations
DEVELOPMENT SUMMARY TABLE ndash 30 JUN 17
Project Location Recognition Launch Q2 2017 Total as at 30 Jun 2017 Expected
completion date Sold
units sup1
Sold unit sales
value (AEDm)
sup1
Sold
units sup1
Sold unit
sales value
(AEDm) sup1
Units
launched
sold Revenue
recognition
Revenue
recognised
Revenue
backlog
Ansam Yas Island Over-time 2014 2 5 506 845 547 93 80 676 168 2017
Hadeel Al Raha Beach Over-time 2014 - - 214 426 233 92 82 349 77 2017
Nareel Abu Dhabi Island Over-time 2015 - - 86 1097 148 58 72 785 312 2017
Merief Khalifa City Over-time 2015 - - 281 609 281 100 26 161 448 2018
Meera Shams Abu Dhabi Over-time 2015 - - 371 461 408 91 47 216 246 2018
Mayan Yas Island Over-time 2015 8 17 411 739 512 80 0 - 739 2019
Yas AcresYas Island Over-time 2016 11 46 432 1605 652 66 4 70 1535 2020
The
Bridges Shams Abu Dhabi Over-time 2017 556 562 556 562 636 87 0 - 562 2020
Aldar developments 577 630 2857 6344 3417 84 2257 4087
West Yas Yas Island na 2015 31 141 598 2674 1017 59 2018
Total developments 608 771 3455 9018 4434 78
FINANCIAL STATEMENTS ndash PROFIT AND LOSS
19
NB
Q2 2016 included a
significant Shams land
transaction (Revenue
AED 524 million and
gross profit of AED
196 million)
Q-o-Q Y-o-Y
AED millions Q2 2017 Q2 20162017
YTD
2016
YTD
Revenues 1354 1696 2932 2928
Direct costs (812) (1003) (1637) (1694)
Gross profit 542 693 1295 1234
Gross profit Margin 40 41 44 42
SGampA expenses (94) (90) (180) (192)
Depreciation and Amortization (48) (52) (98) (101)
Gain on disposals - 1 - 15
Share of profit from associates JVs 12 16 28 34
Other Income 289 172 372 426
Finance expense (62) (59) (123) (118)
Finance income 27 30 59 58
Fair value gains (losses) provision reversal
for impairments(45) (56) (92) (49)
Net Profit for the period 620 654 1261 1308
Attributable to
Owners of the Company 620 657 1256 1306
Non-controlling interests - (3) 5 2
Profit for the period 620 654 1261 1308
Basic and diluted earnings per share (fils) 79 84 160 166
FINANCIAL STATEMENTS ndash BALANCE SHEET
20
Q-o-Q Y-o-Y
AED millions As at
30 Jun 2017
As at
31 Mar 2017
As at
31 Dec 2016
As at
31 Dec 2015
Property plant and equipment 2909 2951 2986 2936
Investment properties 15829 15770 15773 15570
Development work in progress 1470 1391 1298 2745
Inventory 2512 2519 2449 2030
Receivables 5279 5057 5263 5535
Cash 5944 6975 6696 6260
Other Assets 1084 1084 1096 1065
Total Assets 35029 35747 35561 36141
Equity 22455 21865 22086 20288
Debt 5495 5519 5564 5947
Payables Advances and Other Liabilities 7079 8363 7911 9906
Total Liabilities and Equity 35029 35747 35561 36141
sup1 Recurring revenues assets include Investment Properties Hospitality amp Leisure Operative Villages Schools (Aldar Academies) and Property amp Facilities Management (PFM) (Khidmah)
Q2 2017 recurring revenues excludes Pivot revenue of AED217m (Q2 2016 revenue AED179m Q1 2017 revenue AED262m)
Q2 2017 recurring revenues gross profit excludes Pivot gross loss of AED1m (Q2 2016 gross loss AED19m Q1 2017 gross profit AED5m)
Q2 2017 recurring revenues gross profit of AED 357 million (Q2 2016 AED381 million Q1 2017 AED 402 million) sup1
21
419
101
5
360
41
429 425
112
28
320
27
783
429
131
4
419
60
534
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
Q2 2017 Segmental Revenue Performance
Q2 2017 Q2 2016 Q1 2017
AE
D M
illio
ns
Q2 2017 recurring revenues of AED 666 million (Q2 2016 AED 706 million Q1 2017 AED 723 million) sup1
(1)
QUARTERLY SEGMENTAL ANALYSIS
Q2 2016 property development revenue
includes AED 524 million Shams land sale
338
6 5 7 32
154
349
11 4 21
309 355
29 4 19
58
289
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
Q2 2017 Segmental Gross Profit Performance
Q2 2017 Q2 2016 Q1 2017
AE
D M
illio
ns
Q2 2016 property development gross profit
includes AED 196 million Shams land sale
sup1 Recurring revenues assets include Investment Properties Hospitality amp Leisure Operative Villages Schools (Aldar Academies) and Property amp Facilities Management (PFM) (Khidmah)
H1 2017 recurring revenues excludes Pivot revenue of AED479m (H1 2016 revenue AED347m)
H1 2017 recurring revenue gross profit excludes Pivot gross profit of AED3m (H1 2016 gross loss AED11m) 22
848
232 9
779
101
963 866
258 66
611
64
1063
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
2017 YTD Segmental Revenue Performance
2017 YTD 2016 YTD
AE
D M
illio
ns
H1 2017 recurring revenues of AED 1389 million (H1 2016 AED 1455 million) sup1
693
34 9 26 90
443
705
47 14 22 53
394
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
2017 YTD Segmental Gross Profit Performance
2017 YTD 2016 YTD
AE
D M
illio
ns
H1 2017 recurring revenues gross profit of AED 759 million (H1 2016 AED 799 million) sup1
HALF YEARLY SEGMENTAL ANALYSIS
23
sup1 Al Raha Beach land plot handed over in Q3 2016
sup2 Cash flow timing depends on handover of related assets
sup3 On-balance sheet infrastructure recoverables outstanding as at 30 Jun 17
⁴ Additional infrastructure reimbursement submissions made to Government of Abu Dhabi subject to approval
Remaining cash inflows Remaining
PampL events
Transaction (AEDm) H2 2017 2018 Total Other income
Sale of F1 Race Track 348 - 348 -
Sale of Al Raha Beach Land sup1 190 475 665 -
Shams Infrastructure Reimbursement sup2 300 - 300 300
838 475 1313 300
Infrastructure recoverables na na 500sup3-800 300⁴
1813-2113 600
GOVERNMENT TRANSACTIONS
THANK YOU
Now follow us on
18
sup1 Sold units and sold units sales value includes all units where a sales purchase agreement (ldquocontractrdquo) has been signed This does not include sales reservations and pending sales contracts Total units and values as at period end are net of fully cancellations
DEVELOPMENT SUMMARY TABLE ndash 30 JUN 17
Project Location Recognition Launch Q2 2017 Total as at 30 Jun 2017 Expected
completion date Sold
units sup1
Sold unit sales
value (AEDm)
sup1
Sold
units sup1
Sold unit
sales value
(AEDm) sup1
Units
launched
sold Revenue
recognition
Revenue
recognised
Revenue
backlog
Ansam Yas Island Over-time 2014 2 5 506 845 547 93 80 676 168 2017
Hadeel Al Raha Beach Over-time 2014 - - 214 426 233 92 82 349 77 2017
Nareel Abu Dhabi Island Over-time 2015 - - 86 1097 148 58 72 785 312 2017
Merief Khalifa City Over-time 2015 - - 281 609 281 100 26 161 448 2018
Meera Shams Abu Dhabi Over-time 2015 - - 371 461 408 91 47 216 246 2018
Mayan Yas Island Over-time 2015 8 17 411 739 512 80 0 - 739 2019
Yas AcresYas Island Over-time 2016 11 46 432 1605 652 66 4 70 1535 2020
The
Bridges Shams Abu Dhabi Over-time 2017 556 562 556 562 636 87 0 - 562 2020
Aldar developments 577 630 2857 6344 3417 84 2257 4087
West Yas Yas Island na 2015 31 141 598 2674 1017 59 2018
Total developments 608 771 3455 9018 4434 78
FINANCIAL STATEMENTS ndash PROFIT AND LOSS
19
NB
Q2 2016 included a
significant Shams land
transaction (Revenue
AED 524 million and
gross profit of AED
196 million)
Q-o-Q Y-o-Y
AED millions Q2 2017 Q2 20162017
YTD
2016
YTD
Revenues 1354 1696 2932 2928
Direct costs (812) (1003) (1637) (1694)
Gross profit 542 693 1295 1234
Gross profit Margin 40 41 44 42
SGampA expenses (94) (90) (180) (192)
Depreciation and Amortization (48) (52) (98) (101)
Gain on disposals - 1 - 15
Share of profit from associates JVs 12 16 28 34
Other Income 289 172 372 426
Finance expense (62) (59) (123) (118)
Finance income 27 30 59 58
Fair value gains (losses) provision reversal
for impairments(45) (56) (92) (49)
Net Profit for the period 620 654 1261 1308
Attributable to
Owners of the Company 620 657 1256 1306
Non-controlling interests - (3) 5 2
Profit for the period 620 654 1261 1308
Basic and diluted earnings per share (fils) 79 84 160 166
FINANCIAL STATEMENTS ndash BALANCE SHEET
20
Q-o-Q Y-o-Y
AED millions As at
30 Jun 2017
As at
31 Mar 2017
As at
31 Dec 2016
As at
31 Dec 2015
Property plant and equipment 2909 2951 2986 2936
Investment properties 15829 15770 15773 15570
Development work in progress 1470 1391 1298 2745
Inventory 2512 2519 2449 2030
Receivables 5279 5057 5263 5535
Cash 5944 6975 6696 6260
Other Assets 1084 1084 1096 1065
Total Assets 35029 35747 35561 36141
Equity 22455 21865 22086 20288
Debt 5495 5519 5564 5947
Payables Advances and Other Liabilities 7079 8363 7911 9906
Total Liabilities and Equity 35029 35747 35561 36141
sup1 Recurring revenues assets include Investment Properties Hospitality amp Leisure Operative Villages Schools (Aldar Academies) and Property amp Facilities Management (PFM) (Khidmah)
Q2 2017 recurring revenues excludes Pivot revenue of AED217m (Q2 2016 revenue AED179m Q1 2017 revenue AED262m)
Q2 2017 recurring revenues gross profit excludes Pivot gross loss of AED1m (Q2 2016 gross loss AED19m Q1 2017 gross profit AED5m)
Q2 2017 recurring revenues gross profit of AED 357 million (Q2 2016 AED381 million Q1 2017 AED 402 million) sup1
21
419
101
5
360
41
429 425
112
28
320
27
783
429
131
4
419
60
534
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
Q2 2017 Segmental Revenue Performance
Q2 2017 Q2 2016 Q1 2017
AE
D M
illio
ns
Q2 2017 recurring revenues of AED 666 million (Q2 2016 AED 706 million Q1 2017 AED 723 million) sup1
(1)
QUARTERLY SEGMENTAL ANALYSIS
Q2 2016 property development revenue
includes AED 524 million Shams land sale
338
6 5 7 32
154
349
11 4 21
309 355
29 4 19
58
289
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
Q2 2017 Segmental Gross Profit Performance
Q2 2017 Q2 2016 Q1 2017
AE
D M
illio
ns
Q2 2016 property development gross profit
includes AED 196 million Shams land sale
sup1 Recurring revenues assets include Investment Properties Hospitality amp Leisure Operative Villages Schools (Aldar Academies) and Property amp Facilities Management (PFM) (Khidmah)
H1 2017 recurring revenues excludes Pivot revenue of AED479m (H1 2016 revenue AED347m)
H1 2017 recurring revenue gross profit excludes Pivot gross profit of AED3m (H1 2016 gross loss AED11m) 22
848
232 9
779
101
963 866
258 66
611
64
1063
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
2017 YTD Segmental Revenue Performance
2017 YTD 2016 YTD
AE
D M
illio
ns
H1 2017 recurring revenues of AED 1389 million (H1 2016 AED 1455 million) sup1
693
34 9 26 90
443
705
47 14 22 53
394
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
2017 YTD Segmental Gross Profit Performance
2017 YTD 2016 YTD
AE
D M
illio
ns
H1 2017 recurring revenues gross profit of AED 759 million (H1 2016 AED 799 million) sup1
HALF YEARLY SEGMENTAL ANALYSIS
23
sup1 Al Raha Beach land plot handed over in Q3 2016
sup2 Cash flow timing depends on handover of related assets
sup3 On-balance sheet infrastructure recoverables outstanding as at 30 Jun 17
⁴ Additional infrastructure reimbursement submissions made to Government of Abu Dhabi subject to approval
Remaining cash inflows Remaining
PampL events
Transaction (AEDm) H2 2017 2018 Total Other income
Sale of F1 Race Track 348 - 348 -
Sale of Al Raha Beach Land sup1 190 475 665 -
Shams Infrastructure Reimbursement sup2 300 - 300 300
838 475 1313 300
Infrastructure recoverables na na 500sup3-800 300⁴
1813-2113 600
GOVERNMENT TRANSACTIONS
THANK YOU
Now follow us on
FINANCIAL STATEMENTS ndash PROFIT AND LOSS
19
NB
Q2 2016 included a
significant Shams land
transaction (Revenue
AED 524 million and
gross profit of AED
196 million)
Q-o-Q Y-o-Y
AED millions Q2 2017 Q2 20162017
YTD
2016
YTD
Revenues 1354 1696 2932 2928
Direct costs (812) (1003) (1637) (1694)
Gross profit 542 693 1295 1234
Gross profit Margin 40 41 44 42
SGampA expenses (94) (90) (180) (192)
Depreciation and Amortization (48) (52) (98) (101)
Gain on disposals - 1 - 15
Share of profit from associates JVs 12 16 28 34
Other Income 289 172 372 426
Finance expense (62) (59) (123) (118)
Finance income 27 30 59 58
Fair value gains (losses) provision reversal
for impairments(45) (56) (92) (49)
Net Profit for the period 620 654 1261 1308
Attributable to
Owners of the Company 620 657 1256 1306
Non-controlling interests - (3) 5 2
Profit for the period 620 654 1261 1308
Basic and diluted earnings per share (fils) 79 84 160 166
FINANCIAL STATEMENTS ndash BALANCE SHEET
20
Q-o-Q Y-o-Y
AED millions As at
30 Jun 2017
As at
31 Mar 2017
As at
31 Dec 2016
As at
31 Dec 2015
Property plant and equipment 2909 2951 2986 2936
Investment properties 15829 15770 15773 15570
Development work in progress 1470 1391 1298 2745
Inventory 2512 2519 2449 2030
Receivables 5279 5057 5263 5535
Cash 5944 6975 6696 6260
Other Assets 1084 1084 1096 1065
Total Assets 35029 35747 35561 36141
Equity 22455 21865 22086 20288
Debt 5495 5519 5564 5947
Payables Advances and Other Liabilities 7079 8363 7911 9906
Total Liabilities and Equity 35029 35747 35561 36141
sup1 Recurring revenues assets include Investment Properties Hospitality amp Leisure Operative Villages Schools (Aldar Academies) and Property amp Facilities Management (PFM) (Khidmah)
Q2 2017 recurring revenues excludes Pivot revenue of AED217m (Q2 2016 revenue AED179m Q1 2017 revenue AED262m)
Q2 2017 recurring revenues gross profit excludes Pivot gross loss of AED1m (Q2 2016 gross loss AED19m Q1 2017 gross profit AED5m)
Q2 2017 recurring revenues gross profit of AED 357 million (Q2 2016 AED381 million Q1 2017 AED 402 million) sup1
21
419
101
5
360
41
429 425
112
28
320
27
783
429
131
4
419
60
534
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
Q2 2017 Segmental Revenue Performance
Q2 2017 Q2 2016 Q1 2017
AE
D M
illio
ns
Q2 2017 recurring revenues of AED 666 million (Q2 2016 AED 706 million Q1 2017 AED 723 million) sup1
(1)
QUARTERLY SEGMENTAL ANALYSIS
Q2 2016 property development revenue
includes AED 524 million Shams land sale
338
6 5 7 32
154
349
11 4 21
309 355
29 4 19
58
289
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
Q2 2017 Segmental Gross Profit Performance
Q2 2017 Q2 2016 Q1 2017
AE
D M
illio
ns
Q2 2016 property development gross profit
includes AED 196 million Shams land sale
sup1 Recurring revenues assets include Investment Properties Hospitality amp Leisure Operative Villages Schools (Aldar Academies) and Property amp Facilities Management (PFM) (Khidmah)
H1 2017 recurring revenues excludes Pivot revenue of AED479m (H1 2016 revenue AED347m)
H1 2017 recurring revenue gross profit excludes Pivot gross profit of AED3m (H1 2016 gross loss AED11m) 22
848
232 9
779
101
963 866
258 66
611
64
1063
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
2017 YTD Segmental Revenue Performance
2017 YTD 2016 YTD
AE
D M
illio
ns
H1 2017 recurring revenues of AED 1389 million (H1 2016 AED 1455 million) sup1
693
34 9 26 90
443
705
47 14 22 53
394
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
2017 YTD Segmental Gross Profit Performance
2017 YTD 2016 YTD
AE
D M
illio
ns
H1 2017 recurring revenues gross profit of AED 759 million (H1 2016 AED 799 million) sup1
HALF YEARLY SEGMENTAL ANALYSIS
23
sup1 Al Raha Beach land plot handed over in Q3 2016
sup2 Cash flow timing depends on handover of related assets
sup3 On-balance sheet infrastructure recoverables outstanding as at 30 Jun 17
⁴ Additional infrastructure reimbursement submissions made to Government of Abu Dhabi subject to approval
Remaining cash inflows Remaining
PampL events
Transaction (AEDm) H2 2017 2018 Total Other income
Sale of F1 Race Track 348 - 348 -
Sale of Al Raha Beach Land sup1 190 475 665 -
Shams Infrastructure Reimbursement sup2 300 - 300 300
838 475 1313 300
Infrastructure recoverables na na 500sup3-800 300⁴
1813-2113 600
GOVERNMENT TRANSACTIONS
THANK YOU
Now follow us on
FINANCIAL STATEMENTS ndash BALANCE SHEET
20
Q-o-Q Y-o-Y
AED millions As at
30 Jun 2017
As at
31 Mar 2017
As at
31 Dec 2016
As at
31 Dec 2015
Property plant and equipment 2909 2951 2986 2936
Investment properties 15829 15770 15773 15570
Development work in progress 1470 1391 1298 2745
Inventory 2512 2519 2449 2030
Receivables 5279 5057 5263 5535
Cash 5944 6975 6696 6260
Other Assets 1084 1084 1096 1065
Total Assets 35029 35747 35561 36141
Equity 22455 21865 22086 20288
Debt 5495 5519 5564 5947
Payables Advances and Other Liabilities 7079 8363 7911 9906
Total Liabilities and Equity 35029 35747 35561 36141
sup1 Recurring revenues assets include Investment Properties Hospitality amp Leisure Operative Villages Schools (Aldar Academies) and Property amp Facilities Management (PFM) (Khidmah)
Q2 2017 recurring revenues excludes Pivot revenue of AED217m (Q2 2016 revenue AED179m Q1 2017 revenue AED262m)
Q2 2017 recurring revenues gross profit excludes Pivot gross loss of AED1m (Q2 2016 gross loss AED19m Q1 2017 gross profit AED5m)
Q2 2017 recurring revenues gross profit of AED 357 million (Q2 2016 AED381 million Q1 2017 AED 402 million) sup1
21
419
101
5
360
41
429 425
112
28
320
27
783
429
131
4
419
60
534
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
Q2 2017 Segmental Revenue Performance
Q2 2017 Q2 2016 Q1 2017
AE
D M
illio
ns
Q2 2017 recurring revenues of AED 666 million (Q2 2016 AED 706 million Q1 2017 AED 723 million) sup1
(1)
QUARTERLY SEGMENTAL ANALYSIS
Q2 2016 property development revenue
includes AED 524 million Shams land sale
338
6 5 7 32
154
349
11 4 21
309 355
29 4 19
58
289
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
Q2 2017 Segmental Gross Profit Performance
Q2 2017 Q2 2016 Q1 2017
AE
D M
illio
ns
Q2 2016 property development gross profit
includes AED 196 million Shams land sale
sup1 Recurring revenues assets include Investment Properties Hospitality amp Leisure Operative Villages Schools (Aldar Academies) and Property amp Facilities Management (PFM) (Khidmah)
H1 2017 recurring revenues excludes Pivot revenue of AED479m (H1 2016 revenue AED347m)
H1 2017 recurring revenue gross profit excludes Pivot gross profit of AED3m (H1 2016 gross loss AED11m) 22
848
232 9
779
101
963 866
258 66
611
64
1063
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
2017 YTD Segmental Revenue Performance
2017 YTD 2016 YTD
AE
D M
illio
ns
H1 2017 recurring revenues of AED 1389 million (H1 2016 AED 1455 million) sup1
693
34 9 26 90
443
705
47 14 22 53
394
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
2017 YTD Segmental Gross Profit Performance
2017 YTD 2016 YTD
AE
D M
illio
ns
H1 2017 recurring revenues gross profit of AED 759 million (H1 2016 AED 799 million) sup1
HALF YEARLY SEGMENTAL ANALYSIS
23
sup1 Al Raha Beach land plot handed over in Q3 2016
sup2 Cash flow timing depends on handover of related assets
sup3 On-balance sheet infrastructure recoverables outstanding as at 30 Jun 17
⁴ Additional infrastructure reimbursement submissions made to Government of Abu Dhabi subject to approval
Remaining cash inflows Remaining
PampL events
Transaction (AEDm) H2 2017 2018 Total Other income
Sale of F1 Race Track 348 - 348 -
Sale of Al Raha Beach Land sup1 190 475 665 -
Shams Infrastructure Reimbursement sup2 300 - 300 300
838 475 1313 300
Infrastructure recoverables na na 500sup3-800 300⁴
1813-2113 600
GOVERNMENT TRANSACTIONS
THANK YOU
Now follow us on
sup1 Recurring revenues assets include Investment Properties Hospitality amp Leisure Operative Villages Schools (Aldar Academies) and Property amp Facilities Management (PFM) (Khidmah)
Q2 2017 recurring revenues excludes Pivot revenue of AED217m (Q2 2016 revenue AED179m Q1 2017 revenue AED262m)
Q2 2017 recurring revenues gross profit excludes Pivot gross loss of AED1m (Q2 2016 gross loss AED19m Q1 2017 gross profit AED5m)
Q2 2017 recurring revenues gross profit of AED 357 million (Q2 2016 AED381 million Q1 2017 AED 402 million) sup1
21
419
101
5
360
41
429 425
112
28
320
27
783
429
131
4
419
60
534
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
Q2 2017 Segmental Revenue Performance
Q2 2017 Q2 2016 Q1 2017
AE
D M
illio
ns
Q2 2017 recurring revenues of AED 666 million (Q2 2016 AED 706 million Q1 2017 AED 723 million) sup1
(1)
QUARTERLY SEGMENTAL ANALYSIS
Q2 2016 property development revenue
includes AED 524 million Shams land sale
338
6 5 7 32
154
349
11 4 21
309 355
29 4 19
58
289
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
Q2 2017 Segmental Gross Profit Performance
Q2 2017 Q2 2016 Q1 2017
AE
D M
illio
ns
Q2 2016 property development gross profit
includes AED 196 million Shams land sale
sup1 Recurring revenues assets include Investment Properties Hospitality amp Leisure Operative Villages Schools (Aldar Academies) and Property amp Facilities Management (PFM) (Khidmah)
H1 2017 recurring revenues excludes Pivot revenue of AED479m (H1 2016 revenue AED347m)
H1 2017 recurring revenue gross profit excludes Pivot gross profit of AED3m (H1 2016 gross loss AED11m) 22
848
232 9
779
101
963 866
258 66
611
64
1063
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
2017 YTD Segmental Revenue Performance
2017 YTD 2016 YTD
AE
D M
illio
ns
H1 2017 recurring revenues of AED 1389 million (H1 2016 AED 1455 million) sup1
693
34 9 26 90
443
705
47 14 22 53
394
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
2017 YTD Segmental Gross Profit Performance
2017 YTD 2016 YTD
AE
D M
illio
ns
H1 2017 recurring revenues gross profit of AED 759 million (H1 2016 AED 799 million) sup1
HALF YEARLY SEGMENTAL ANALYSIS
23
sup1 Al Raha Beach land plot handed over in Q3 2016
sup2 Cash flow timing depends on handover of related assets
sup3 On-balance sheet infrastructure recoverables outstanding as at 30 Jun 17
⁴ Additional infrastructure reimbursement submissions made to Government of Abu Dhabi subject to approval
Remaining cash inflows Remaining
PampL events
Transaction (AEDm) H2 2017 2018 Total Other income
Sale of F1 Race Track 348 - 348 -
Sale of Al Raha Beach Land sup1 190 475 665 -
Shams Infrastructure Reimbursement sup2 300 - 300 300
838 475 1313 300
Infrastructure recoverables na na 500sup3-800 300⁴
1813-2113 600
GOVERNMENT TRANSACTIONS
THANK YOU
Now follow us on
sup1 Recurring revenues assets include Investment Properties Hospitality amp Leisure Operative Villages Schools (Aldar Academies) and Property amp Facilities Management (PFM) (Khidmah)
H1 2017 recurring revenues excludes Pivot revenue of AED479m (H1 2016 revenue AED347m)
H1 2017 recurring revenue gross profit excludes Pivot gross profit of AED3m (H1 2016 gross loss AED11m) 22
848
232 9
779
101
963 866
258 66
611
64
1063
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
2017 YTD Segmental Revenue Performance
2017 YTD 2016 YTD
AE
D M
illio
ns
H1 2017 recurring revenues of AED 1389 million (H1 2016 AED 1455 million) sup1
693
34 9 26 90
443
705
47 14 22 53
394
Investment Properties Hospitality amp Leisure Operative Villages Adjacent Businesses Development Management Property Development
2017 YTD Segmental Gross Profit Performance
2017 YTD 2016 YTD
AE
D M
illio
ns
H1 2017 recurring revenues gross profit of AED 759 million (H1 2016 AED 799 million) sup1
HALF YEARLY SEGMENTAL ANALYSIS
23
sup1 Al Raha Beach land plot handed over in Q3 2016
sup2 Cash flow timing depends on handover of related assets
sup3 On-balance sheet infrastructure recoverables outstanding as at 30 Jun 17
⁴ Additional infrastructure reimbursement submissions made to Government of Abu Dhabi subject to approval
Remaining cash inflows Remaining
PampL events
Transaction (AEDm) H2 2017 2018 Total Other income
Sale of F1 Race Track 348 - 348 -
Sale of Al Raha Beach Land sup1 190 475 665 -
Shams Infrastructure Reimbursement sup2 300 - 300 300
838 475 1313 300
Infrastructure recoverables na na 500sup3-800 300⁴
1813-2113 600
GOVERNMENT TRANSACTIONS
THANK YOU
Now follow us on
23
sup1 Al Raha Beach land plot handed over in Q3 2016
sup2 Cash flow timing depends on handover of related assets
sup3 On-balance sheet infrastructure recoverables outstanding as at 30 Jun 17
⁴ Additional infrastructure reimbursement submissions made to Government of Abu Dhabi subject to approval
Remaining cash inflows Remaining
PampL events
Transaction (AEDm) H2 2017 2018 Total Other income
Sale of F1 Race Track 348 - 348 -
Sale of Al Raha Beach Land sup1 190 475 665 -
Shams Infrastructure Reimbursement sup2 300 - 300 300
838 475 1313 300
Infrastructure recoverables na na 500sup3-800 300⁴
1813-2113 600
GOVERNMENT TRANSACTIONS
THANK YOU
Now follow us on
THANK YOU
Now follow us on