Aldar Properties sold a major part of its signature Yas Island project, including the Grand Prix Circuit, to the Abu Dhabi Government. Chief Financial Officer for Aldar said “We sold a number of things, including the internal roads, vacuum systems, the marina, yacht club…and the race track.” Shafqat Malik said the sale was made in order to raise cash during one of Aldar’s most challenging periods, and also as part of a wider economic diversification in Abu Dhabi.
Aldar losses in the fourth quarter totaled Dh562 million due to a Dh520 million revaluation of properties under development, and Dh170mm in costs related to opening Yas Island in late October for the Formula 1 Grand Prix. Mr. Malik said Aldar now has about Dh10.3 billion in liquidity which will allow it to manage its development program over the next year.
This museum has an extensive collection of many works of art, including the Straus Collection of Renaissance and 18th-century paintings, as well as Post-Impressionist works from Gauguin, Van Gogh and Monet. Boasting over 45,000 pieces of art, this museum also showcases antiquities, African sculptures, costumes and textiles. The Beck Building has skylights in its roof, allowing sunlight to stream t...
Located in the heart of the city, along the Esplanadi street, is the first stage that Finland ever had. The Swedish theater was inaugurated in 1827 as a small wooden building. Through the years as interest in theater and film making grew in the Finnish, this small house had to expand and it became a beautifully constructed building in 1866 that could house hundreds of people. Location: Esplan...
It's easy to forget that Amman is an ancient city, settled for thousands of years. When it was capital of the Ammonite civilization it was known as Rabbath Ammon. During the Greek and Roman eras it was called Philadelphia, the city of brotherly love. It was ruled by a succession of the Middle East's great empires. For most of that history, development was centered on the Ci...
From its completion in 2000 until 2006, the London Eye was the world’s tallest Ferris wheel. One of several iconic projects built to celebrate the year 2000 (along with the Millennium Dome and the Millenium Bridge), it has become a symbol of London in the twenty-first century. The eye features 32 capsules, each representing one of London’s boroughs and capable of holding up to 25 people. Owing t...