Abu Dhabi-based developer Aldar Properties is to reduce its workforce by 24 per cent as part of its new strategic plan.

In a statement released on 31 October, Aldar said it would be reducing its staff by 105 people, which constitutes 24 per cent of the total current workforce.

“Aldar will ensure all staff leaving the company receive full assistance and support,” said the developer in the statement.

The statement said its new strategic plan would take “into account the existing market environment and is designed to reorganise and refocus the company’s business development efforts to deliver and increase the value of existing development projects and investment properties, selectively target new developments where there is demonstrable demand, and increase Aldar’s large-.scale fee based development activities.”