Aldar Properties creates new subsidiary with $5.4 bln assets

Abu Dhabi’s largest developer Aldar Properties is spinning off its recurring-revenue assets worth 20 billion dirhams ($5.4 billion) into a new, fully-owned subsidiary as it seeks to achieve operational efficiencies and raise cheaper capital.  The state-linked builder of Abu Dhabi’s Formula One circuit said on Wednesday the subsidiary, Aldar Investment…