Aldar posts $129.5m Q2 net loss

Aldar Properties reported its third consecutive quarterly loss as the biggest real-estate developer in Abu Dhabi suffered from lower sales.

Second-quarter loss was AED475.3m ($129.5m), according to Bloomberg calculations based on half-yearly data provided by the company on Thursday. The average estimate of seven analysts was for a loss of AED210m for the quarter, according to data compiled by Bloomberg.

The company said first-half loss was 789.5 million dirhams after a profit of 1.14 billion dirhams a year earlier.

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