Today's Edition
ABU DHABI (ALETIHAD)
Aldar reported an 18% year-on-year increase in net profit after tax to Dh4.9 billion for the first half of 2026, supported by the recognition of revenue from its development backlog and growth in recurring income.
Revenue increased 8% to Dh16.8 billion, while gross profit rose 17% to Dh6.2 billion. Earnings before interest, taxes, depreciation and amortisation increased 19% to Dh6.3 billion.
Earnings per share rose 17% to Dh0.53. The group’s effective tax rate stood at 11.8%, compared with 12.2% in the first half of 2025.
In the second quarter, Aldar’s net profit after tax increased 17% year on year to Dh2.6 billion. Revenue rose 5% to Dh8.1 billion, gross profit increased 14% to Dh2.9 billion and EBITDA advanced 18% to Dh3.3 billion.
Group development sales stood at Dh12.1 billion during the first half. Aldar said the figure reflected a measured approach to new launches in the UAE in response to market conditions. The company launched three UAE projects during the second quarter.
The development revenue backlog reached Dh71.6 billion at the end of June, including Dh59.9 billion in the UAE. The backlog is expected to support revenue recognition over the next two to three years.
Sales to overseas buyers and expatriate residents in the UAE reached Dh7.6 billion and represented 80% of total UAE sales during the period.
Aldar’s international businesses increased their contributions to group sales, with first-half sales at Egypt-based SODIC rising 171% year on year and those at UK developer London Square increasing 236%.
In July, Aldar unveiled Marsa Al Saadiyat, activating the final phase of Saadiyat Island’s masterplan. The destination has a gross development value of Dh100 billion, of which Aldar will develop Dh60 billion. Project launches are expected to begin during the second half of the year.
The company also announced Yas Point, a Dh6 billion mixed-use waterfront community on Yas Island, and launched its first development within the community, The Canopies.
Aldar’s assets under management increased to Dh56 billion. Its develop-to-hold pipeline, comprising projects intended to be retained as income-generating assets after completion, stood at Dh20 billion following the addition of five projects during the second quarter.
The company also completed a facility for Emirates Snack Foods.
During the second quarter, Aldar and Abu Dhabi’s Department of Municipalities and Transport entered into a Dh2.8 billion partnership to develop 9,000 value-housing rental units.
In Dubai, Aldar acquired a residential and community retail development project in Dubai Studio City.
The company said it was continuing to invest in education, with a British school planned for the Al Ghadeer Gardens development and the relocation of Cranleigh Abu Dhabi to a new facility on Saadiyat Island.
Aldar closed a Dh5 billion sustainability-linked revolving syndicated credit facility in April. Its liquidity position stood at Dh37.1 billion, comprising Dh16.8 billion in free and unrestricted cash and Dh20.3 billion in committed undrawn bank facilities.
Mohamed Khalifa Al Mubarak, Chairman of Aldar, said the first-half performance reflected the company’s strategy and investment decisions over several years, which had created a diversified business supported by financial strength.
“This diversification is a structural advantage, allowing us to translate Abu Dhabi’s momentum into positive performance across the business,” Al Mubarak said.
He said the first half was characterised by sustained business activity, customer confidence, continued demand for Aldar’s developments and rising occupancy and rents across its income-generating portfolio.
“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,” Al Mubarak said.
Talal Al Dhiyebi, Group Chief Executive Officer of Aldar, said the results reflected healthy operating margins, steady revenue growth and the benefits of the group’s diversified business model.
“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,” Al Dhiyebi said.
He added that demand from international and expatriate resident buyers had positioned the company well for forthcoming launches, including homes at Marsa Al Saadiyat.
Al Dhiyebi said Aldar would remain focused on delivering its residential backlog and develop-to-hold pipeline, while expanding its investment property portfolio.
“Aldar has the financial strength and operational capabilities to pursue disciplined growth and generate long-term value for shareholders and our communities,” he said.
