E-Paper
Sign In
Aldar H1 profit rises % to Dh4.9b as backlog drives earnings
Abu Dhabi-based developer said its development backlog stood at Dh71.6 billion at the end of June, including Dh59.9 billion in the UAE, providing revenue visibility for the next two to three years
- PUBLISHED: Wed 29 Jul 2026, 10:48 AM
Aldar Properties reported an 18 per cent year-on-year increase in first-half net profit after tax to Dh4.9 billion, supported by revenue recognition from its development backlog and steady earnings from its investment property portfolio.
Revenue for the six months ended June 30 rose 8 per cent to Dh16.8 billion, while gross profit increased 17 per cent to Dh6.2 billion. EBITDA climbed 19 per cent to Dh6.3 billion and earnings per share rose 17 per cent to Dh0.53.
Recommended For You
For the second quarter, net profit increased 17 per cent to Dh2.6 billion on revenue of Dh8.1 billion, up 5 per cent year-on-year. Quarterly EBITDA rose 18 per cent to Dh3.3 billion.
The Abu Dhabi-based developer said its development backlog stood at Dh71.6 billion at the end of June, including Dh59.9 billion in the UAE, providing revenue visibility for the next two to three years.
Group development sales fell 34 per cent year-on-year to Dh12.1 billion in the first half, while UAE sales dropped 46 per cent to Dh9.4 billion. Aldar attributed the decline to a measured approach to new project launches in response to market conditions. In the second quarter alone, group sales declined 43 per cent to Dh5.4 billion and UAE sales fell 61 per cent to Dh3.5 billion.
Despite slower sales activity, international and expatriate buyers remained a key source of demand. Sales to overseas and expatriate resident customers reached Dh7.6 billion in the first half, accounting for 80 per cent of total UAE sales.
"As Abu Dhabi continues to invest in the infrastructure, industries and quality of life that are drawing people and capital to the emirate, Aldar is both a contributor to and a beneficiary of that growth. We are well positioned to keep building on this performance," said Mohamed Khalifa Al Mubarak, Chairman Of Aldar.
“Aldar delivered a solid first-half performance, characterised by healthy operating margins, steady revenue growth, and a net profit increase of 18 per cent year on year,” said Talal Al Dhiyebi, Group Chief Executive Officer of Aldar. “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.”
Aldar Development, which includes its UAE, Egypt and UK operations, recorded revenue of Dh12.4 billion in the first half, up 10 per cent, while EBITDA rose 21 per cent to Dh4.0 billion.
The company’s international businesses delivered stronger sales growth. Egypt’s SODIC reported first-half sales of Dh1.4 billion, up 171 per cent, while UK-based London Square posted sales of Dh1.2 billion, a 236 per cent increase.
Meanwhile, Aldar Investment, which manages the group’s income-generating assets, reported a 12 per cent increase in revenue to Dh4.2 billion and an 18 per cent rise in adjusted EBITDA to Dh1.8 billion. Assets under management reached Dh56 billion.
The investment portfolio benefited from high occupancy levels, including 99 per cent in commercial assets, 96 per cent in residential properties and 97 per cent across industrial and logistics assets. The develop-to-hold pipeline stood at Dh20 billion at the end of June.
The company also strengthened its balance sheet during the period, securing a Dh5 billion sustainability-linked revolving credit facility. Total liquidity reached Dh37.1 billion, comprising Dh16.8 billion in cash and Dh20.3 billion in committed undrawn banking facilities.
Associate Editor Somshankar Bandyopadhyay brings more than three decades of experience to the KT newsroom. Currently, he manages the news production of the business section, ensuring that the top economic and business news of the day reaches its readers.