UAE's Aldar to develop $3 bln auto property project

ABU DHABI, April 3 (Reuters) - Abu Dhabi's Aldar Properties ALDR.AD said on Thursday it will develop a real estate project dedicated to the car trade, including a site for auctions, at a cost of $3 billion.

The project, near the airport in Abu Dhabi in the United Arab Emirates, would house as many as 30,000 people, the state-controlled developer said in a statement given to reporters.

The project will cost 11 billion dirhams, Aldar Chairman Ahmed Ali al-Sayegh. (Reporting by Stanley Carvalho; Editing by James Cordahi)