London, England -- (SBWire) -- 01/19/2012 --According to a news report, the economic crisis for Aldar Properties has worsened. Aldar Properties, which is one of the biggest developers of Abu Dhabi real estate, has suffered from an economic crisis for quite a long time. In a recent attempt to lasso the company out of this crisis, the government of Abu Dhabi has given an aid of sum of US $ 4.6. With this help, the annual balance sheet for Aldar Properties is expected to look less ugly.
This aid, on one hand, might just help lasso Aldar Properties out of a crisis, on the other hand, it will also prove to be much beneficial for Abu Dhabi real estate. The semi-government company is one of the biggest operatives in the whole area. The fact that the company finds itself in the midst of such a huge economic crisis goes to say volumes about the gravity of the economic crisis faced by the State of Abu Dhabi. With the aid of US $ 4.6, it became the second major company to be rescued by the government of Abu Dhabi this year.
After Dubai’s government embarked on the route to bring back the local realty market back on its feet, Abu Dhabi government has also gone to great lengths to help stabilize the prices of Abu Dhabi properties. While Dubai properties have continued their journey down the graph, things are also looking uncertain and murky for Abu Dhabi properties.
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Aldar's Crisis Worsens - More Bad News for Abu Dhabi Real Estate
Aldar Properties of Abu Dhabi has agreed to accept an aid of US $ 4.6 from the Abu Dhabi government to end up its balance sheet nicely.