Aldar launches new Abu Dhabi developments worth $1.4 bln

DUBAI, April 21 Mon Apr 21, 2014 1:02am EDT

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DUBAI, April 21 (Reuters) - Real estate developer Aldar Properties has launched three new developments in Abu Dhabi worth 5 billion dirhams ($1.4 billion), the company said on Monday.

"Off-plan sales for the three developments will commence in May and construction is scheduled to begin in 2015," it said in a bourse statement.

"We are currently exploring 23 exciting real estate developments, excluding government projects, three of which have been announced today as part of the next phase of growth of our business," Aldar quoted its chairman Abubaker Seddiq Al Khoori as saying in the same statement. ($1 = 3.6730 UAE Dirhams) (Reporting by Olzhas Auyezov; Editing by Andrew Torchia)

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