Aldar posts AED4.9 billion first-half net profit, up 18%

Aldar reported strong financial and operational results for the first half of 2026, driven by continued momentum in its development business, the strength of its investment property portfolio and the growth of its regional and international operations.

The group’s first-half net profit after tax increased 18 percent YoY to AED4.9 billion, driven by realisation of development revenue backlog and resilient earnings from a diversified, defensive investment properties portfolio. Earnings per share grew 17 percent YoY to AED0.53 in H1.

In July, Aldar unveiled Marsa Al Saadiyat, activating the final phase of Saadiyat Island’s masterplan with an AED100 billion GDV, of which Aldar will develop AED60 billion, with launches commencing in H2.

Aldar also announced Yas Point, an AED6 billion mixed-use waterfront community on Yas Island, and launched its first development, The Canopies.

The group reported development sales of AED12.1 billion in H1, reflecting a measured approach to new launches in the UAE in response to market conditions, with three successful UAE projects launched in Q2.

Aldar’s development backlog stood at AED71.6 billion at the end of June, including AED59.9 billion in the UAE, driving revenue recognition over the next 2-3 years.

Sales to overseas and expatriate buyers totalled AED7.6 billion, representing 80 percent of UAE sales. Meanwhile, Aldar’s international businesses, SODIC and London Square, increased their contributions to group sales, with H1 2026 sales up 171 percent and 236 percent, respectively.

Aldar Investment’s H1 2026 adjusted EBITDA rose 18 percent YoY to AED1.8 billion, supported by high occupancy and rental growth, as well as recent strategic acquisitions, including a logistics portfolio at KEZAD and The Link at Masdar City in Q2.

Assets under management (AUM) at Aldar Investment rose to AED56 billion. The develop-to-hold (D-hold) pipeline, which supports future income growth, stood at AED20 billion following the addition of five new projects in Q2, and completion of a facility for Emirates Snack Foods.

Among the D-hold announcements in Q2, Aldar and Abu Dhabi’s Department of Municipalities and Transport entered an AED2.8 billion partnership to develop 9,000 value housing rental units, while in Dubai Aldar acquired a residential and community retail development project in Dubai Studio City.

Aldar continued to invest in education with a British school planned for the new Al Ghadeer Gardens development, and relocation of Cranleigh Abu Dhabi to a new state-of-the-art facility on Saadiyat Island.

The group also closed an AED5 billion sustainability-linked revolving syndicated credit facility closed in April. This enhanced Aldar’s liquidity position, which stands at AED37.1 billion, including AED16.8 billion in free and unrestricted cash and AED20.3 billion in committed undrawn bank facilities.

Mohamed Khalifa Al Mubarak, Chairman of Aldar, said Aldar’s robust first-half performance is the direct result of a clear strategy and deliberate investment decisions taken over many years, which have created a strong and highly diversified business underpinned by exceptional financial strength.

“This diversification is a structural advantage, allowing us to translate Abu Dhabi’s momentum into positive performance across the business. In the first half, this was evident in sustained activity and firm customer confidence, with continued demand for our developments and rising occupancy and rental growth across the investment properties in our AED56 billion income-generating portfolio,” he said.

Talal Al Dhiyebi, Group Chief Executive Officer of Aldar, said that Aldar delivered a solid first-half performance, characterised by healthy operating margins, steady revenue growth, and a net profit increase of 18 percent YoY.

“Our development business continued to generate robust revenue as we maintained steady progress in delivering our substantial UAE backlog, while our businesses in the UK and Egypt continued to gain momentum. New launches in the UAE drew significant demand from international and expatriate resident buyers, who accounted for 80 percent of total sales in the first half, positioning us well for planned launches in the coming period,” he added.

Al Dhiyebi said, “Looking ahead, we remain focused on delivering on our residential development backlog and our develop-to-hold pipeline, while adding further value across our expanding investment property portfolio.”