Dubai: Abu Dhabi’s Aldar Properties is raising the bar over the internal transparency of its operations. It has become the first company in the GCC to adopt European Public Real Estate Association’s (EPRA) best practice for exposure.
These suggestions urge organizations to give detailed property-specific measurements, which are trailed by worldwide land-centered institutional investors. These exposures are in addition to IFRS detailing requirements.
It suggests better like-for-like comparisons over time and in between peer groups on main performance measures containing adjusted earnings, net profit value, yield, vacancy rate, and price ratios.
Aldar, which has been a member of EPRA since 2018, has contained the additional performance indicators for the previous two financial years in the company’s 2020 annual report.
Greg Fewer, Chief Financial and Sustainability Officer at Aldar Properties, said, “Greater data transparency and best-in-class financial reporting remain an integral part of Aldar’s engagement with investors and other important stakeholders. We believe that detailed disclosures will contribute to attracting increased global flows of capital into the UAE and the regional real estate sector.”