Aldar Properties said on Monday its board will meet this week to talk about asset sales as the Abu Dhabi-developer, bailed out once by the government in 2011, struggles with a property downturn.

Aldar, part owned by the government, said the board will meet Wednesday to consider the sale by the company of certain of its assets as well as other operational matters.

The developer has already sold assets to the Abu Dhabi government, including its Ferrari World theme park and the Yas Marina Formula One circuit.
Abu Dhabi bailed Aldar out in January with a $5.2 billion rescue package in exchange for 2.8 billion dirham ($762 million) in convertible bonds to Mubadala and the sale of properties. Mubadala converted a portion of its bonds earlier this month.

In January, Aldar said it would sell assets worth $1.49 billion to the government to meet debt obligations.

It did not name any specific assets allow for sale but analysts have said these could include properties such as the ‘Yas Hotel’ and some commercial and retail developments under construction.

Aldar shares were down 1.18 % on the Abu Dhabi exchange.