Citigroup has initiated coverage with a 'buy' and medium risk rating for Aldar Properties and Sorouh Real Estate, both of which are based in Abu Dhabi and owned by the emirate. The target price for Aldar was pegged at Dhs16.6 and Dhs5.6 for Sorouh. Citigroup noted that both companies have substantial funding requirements in order to realise the full value of their land banks, but it believes that the flexibility of their business models substantially mitigate this risk.