
Modon sells out 'Wadeem' on Hudayriyat Island for Dhs5.5 billion
The sales place Wadeem as 2025's highest-valued real estate release in Abu Dhabi to date.
Bill O'Regan, Group CEO of Modon Holding, said, 'As demand for high-quality real estate in prime locations grows, Modon continues to strengthen its position as a trusted name in shaping vibrant, people-centric destinations. The strong interest in Wadeem is testament to individual and investor confidence in our capabilities in delivering exceptional residential communities.'
Ibrahim Al Maghribi, CEO of Modon Real Estate, said, 'The response to Wadeem and the value of sales generated are an outstanding achievement, representing a significant milestone in realising Modon's vision for Hudayriyat Island. The launch reinforces Hudayriyat's position among Abu Dhabi's most desirable residential destinations, offering unparalleled quality, lifestyle, and diversity of choice for future residents.'
WAM

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Zawya
07-08-2025
- Zawya
Saudi-listed SISCO Holding says affiliate wins contract to build wastewater treatment plant
Sustained Infrastructure Holding Company (SISCO Holding) said that a consortium comprising one of its affiliate companies has won a 53.28 million Saudi riyal ($14.51 million) contract to design and construct a wastewater and industrial water treatment plant in Saudi Arabia. The company owns a 50 percent stake in International Water Distribution Company (Tawzea), it said in a statement to the Saudi stock exchange on Thursday. Tawzea holds a 51 percent stake in the winning consortium. The name of the other company was not given. The project was awarded by the Saudi Authority for Industrial Cities and Technology Zones (MODON), with the work scope also including a storage and distribution system for treated water intended for industrial irrigation in Waad Al Shamal City for Mining Industries in the Northern Borders province. The consortium has 30 months to complete the project and has signed a 48-month operation and maintenance contract, the statement said. (Editing by Anoop Menon) (


Al Etihad
05-08-2025
- Al Etihad
Abu Dhabi properties see robust capital appreciation in Q2 2025: ValuStrat report
5 Aug 2025 16:35 ABU DHABI (ALETIHAD)Abu Dhabi's residential property market continued its robust upward trajectory in the second quarter of 2025, with the capital values recording an 8.1% year-on-year (YoY) and 2.2% quarter-on-quarter (QoQ) rise across both villas and apartments. The report by ValuStrat highlights a market driven by limited supply, resilient demand, and increasing investor outpaced apartments in capital appreciation, with villa prices rising 10.1% YoY and 2.6% QoQ. Apartment prices rose by 5.9% annually—the strongest growth in three years—and 1.7% quarterly. The average citywide home value stood at Dh966 per sq ft, with villas averaging Dh795 per sq ft and apartments Dh1,037 per sq Island led villa capital gains with a 21.2% annual rise, while Hydra Village remained flat. For apartments, Saadiyat Island again topped the list with an 8% annual increase, followed by Al Reef (7.3%), Al Muneera Island (7%), and Al Reem Island (5.8%).Rental values also saw strong growth, with average rents rising 9.5% YoY and 1.5% QoQ. Apartments outperformed villas in rental growth, with apartment rents rising 12.5% YoY and 2% QoQ, while villa rents grew 7% annually but remained flat quarterly. Average citywide gross yields stood at 8.1%, with apartments yielding 8.5% and villas 7%.Citywide apartment asking rents averaged Dh117,000 per annum. Studios fetched Dh65,000, one-beds Dh91,000, two-beds Dh128,000, and three-beds Dh183,000. Among communities, Al Reef posted the highest quarterly increase at 5.4%. Villa rents averaged Dh249,000, with three-beds at Dh185,000, four-beds Dh249,000, and five-beds Dh313,000. Mohammad Bin Zayed City saw the strongest villa rent growth at 3.7% supply remains constrained, with only 7.1% of the projected 2025 pipeline delivered by mid-year. A total of 12,499 units are scheduled for completion this year, and 33,000 units are expected by 2030. Several new launches were announced, including Modon's Wadeem project on Hudayriyat Island, Bloom Holding's Granada Phase 2, and Seamont Autograph Residences on Al Reem activity rebounded sharply. Off-plan transactions surged 53.1% QoQ but were still 51.8% lower YoY. The average off-plan property price stood at Dh1,781 per sq ft, with a 38.1% annual increase. The average ticket size rose to Dh3 million, reflecting strong demand for high-end units. Off-plan deals made up nearly 30% of all residential home sales grew by 6.4% QoQ and 3% YoY. The average transaction price for ready homes was Dh1,180 per sq ft, and the average ticket size was Dh2.4 million. Total mortgage-backed transactions reached Dh8.3 billion, matching cash transactions, which also stood at Dh8.2 billion. Mortgages accounted for 50% of all ready property sales, supported by steady US interest office market remained buoyant, with average asking rents rising 6.1% QoQ and 28.3% YoY, driven by high occupancy rates in central business districts, which reached 90.5%. Masdar City Square added 50,000 sq m of new office space in Q2. In the hospitality sector, the emirate recorded an 83.7% occupancy rate in the first four months of the year. The average daily room rate reached Dh623, while revenue per available room (RevPAR) climbed to Dh521, up 26.8% YoY. The market welcomed 1.7 million guests during the same period. The planned Disney theme park resort on Yas Island is expected to reinforce Abu Dhabi's growing tourism appeal. Source: Aletihad - Abu Dhabi


Zawya
31-07-2025
- Zawya
Egypt: Modon Holding posts $572mln net profit in H1 2025
Egypt - Modon Holding PSC announced robust results for the first half of 2025, reporting a net profit of AED 2.1bn—an increase of more than fourfold compared to AED 502m in H1 2024 (excluding the AED 9bn one-off gain from last year's merger and other non-core adjustments). The Group's strong performance was underpinned by solid results across its core segments, recent acquisitions, and ongoing strategic investments. Group revenue tripled year-on-year to AED 6.5bn, supported by record real estate sales and the recognition of a deepening development backlog from both new launches and existing inventory. Recurring revenues from the Asset Management, Hospitality, and Events, Catering & Tourism segments also recorded notable improvement, boosted by near-full occupancy rates, operational expansions, and integration synergies from strategic acquisitions. Group EBITDA grew more than fourfold to AED 2.9bn, with margins expanding to 44%, reflecting a stronger portfolio mix and operational efficiencies. Real estate sales reached AED 10bn in H1 2025, driven by the rapid sell-out of two flagship masterplan launches, which sold out within a day—highlighting continued strong market demand. The company's revenue backlog rose to AED 33bn, spanning all business lines. Building on this momentum, Modon secured an AED 5.5bn sell-out of residential plots at its Wadeem community in July, pushing cumulative sales beyond the full-year 2024 total and ensuring a strong start to the second half of 2025. This success further strengthens Modon's development pipeline and reinforces its long-term value creation strategy. Internationally, Modon advanced its strategic expansion with key investments in the United Kingdom and North America, expanding its operational footprint to 13 countries. Domestically, the company launched Gridora, a new infrastructure platform created in partnership with ADQ and IHC. In May, Gridora signed an MoU with Abu Dhabi Projects and Infrastructure Centre (ADPIC) to support delivery of ADPIC's AED 35bn transport infrastructure programme in Abu Dhabi. The Group's performance reflects Modon's balanced approach: combining record-breaking real estate sales and growing recurring income streams with strategic investments to drive sustained growth and create long-term shareholder value.