Aldar Properties, the Abu Dhabi developer of the capital's Formula One complex and Raha Beach, is considering selling off properties to raise capital.
The board of directors will meet Wednesday to consider “the sale... of certain assets,” the company announced in a statement posted on the Abu Dhabi Securities Exchange.
In January Aldar announced a funding plan under which the Abu Dhabi Government would buy Dh10.9 billion ($2.9bn) of the company’s infrastructure assets on Yas Island, Dh5.5bn of residential units and land, and issued a Dh2.8bn convertible bond to Mubadala, a strategic investment company owned by the Abu Dhabi Government..
Last week Mubadala converted $2.1 billion of the bonds into shares to increase its stake in the company to 49 per cent, sending the company’s shares to record lows over concerns the developer would delist.
kbrass@thenational.ae
Pox that threatens the Middle East's native species
Camelpox
Caused by a virus related to the one that causes human smallpox, camelpox typically causes fever, swelling of lymph nodes and skin lesions in camels aged over three, but the animal usually recovers after a month or so. Younger animals may develop a more acute form that causes internal lesions and diarrhoea, and is often fatal, especially when secondary infections result. It is found across the Middle East as well as in parts of Asia, Africa, Russia and India.
Falconpox
Falconpox can cause a variety of types of lesions, which can affect, for example, the eyelids, feet and the areas above and below the beak. It is a problem among captive falcons and is one of many types of avian pox or avipox diseases that together affect dozens of bird species across the world. Among the other forms are pigeonpox, turkeypox, starlingpox and canarypox. Avipox viruses are spread by mosquitoes and direct bird-to-bird contact.
Houbarapox
Houbarapox is, like falconpox, one of the many forms of avipox diseases. It exists in various forms, with a type that causes skin lesions being least likely to result in death. Other forms cause more severe lesions, including internal lesions, and are more likely to kill the bird, often because secondary infections develop. This summer the CVRL reported an outbreak of pox in houbaras after rains in spring led to an increase in mosquito numbers.
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