Latest news with #AED8.9
Dubai Eye
24-05-2025
- Business
- Dubai Eye
Real estate transactions in five UAE emirates reach AED239 billion in Q1
Real estate transactions across five emirates in the UAE surged to over AED239 billion in the first quarter of 2025, underpinned by investor confidence, flexible regulations, and expanding project pipelines, official data showed. More than 94,719 sales, purchase, and mortgage deals were recorded from January through March in Abu Dhabi, Dubai, Sharjah, Ajman, and Ras Al Khaimah, marking a robust start to the year for the UAE's property sector. Talal Al Dhiyebi, Group Chief Executive Officer at Aldar Properties, said the UAE's real estate boom is fuelled by the country's broader economic and cultural progress, making it one of the world's most attractive destinations for living, working, and investing. In statements to the Emirates News Agency (WAM), he said that Aldar reported AED8.9 billion in Q1 sales, a 42 per cent year-on-year increase, with portfolio occupancy rates exceeding 95 per cent by the end of the quarter. Abu Dhabi posted AED25.3 billion in total real estate transactions, up 34.5 per cent from Q1 2024. This included 3,819 sale deals worth AED15.51 billion—up 26.7 per cent—and 3,077 mortgage transactions totalling AED9.8 billion, a 49 per cent increase, according to the Abu Dhabi Real Estate Centre. Dubai accounted for the largest share, with AED193 billion in real estate transactions, resulting from 58,039 transactions, a growth of 16.2 per cent in value and 31.5 per cent compared to 2024. The Dubai Land Department reported AED142 billion in sales from 45,077 deals, marking a 30 percent increase in value compared to the same period last year. Mortgages reached AED41 billion from 10,949 transactions, up 27 percent in volume. The remainder came from grants and exchanges. Sharjah recorded AED13.2 billion in property transactions from 24,597 deals, up 31.9 per cent year-on-year, data from the Sharjah Real Estate Registration Department showed. Ajman registered AED5.55 billion in total transactions, reflecting a 29 per cent increase. Of this, AED3.69 billion came from 3,132 sales and purchase transactions, and AED905 million from 498 mortgage transactions, with the remainder comprising grants and property exchanges. In Ras Al Khaimah, residential off-plan sales exceeded AED2.4 billion from more than 1,300 transactions, according to a report by CBRE, highlighting continued demand in the northern emirate's housing market.
ARN News Center
24-05-2025
- Business
- ARN News Center
Real estate transactions in five UAE emirates reach AED239 billion in Q1
Real estate transactions across five emirates in the UAE surged to over AED239 billion in the first quarter of 2025, underpinned by investor confidence, flexible regulations, and expanding project pipelines, official data showed. More than 94,719 sales, purchase, and mortgage deals were recorded from January through March in Abu Dhabi, Dubai, Sharjah, Ajman, and Ras Al Khaimah, marking a robust start to the year for the UAE's property sector. Talal Al Dhiyebi, Group Chief Executive Officer at Aldar Properties, said the UAE's real estate boom is fuelled by the country's broader economic and cultural progress, making it one of the world's most attractive destinations for living, working, and investing. In statements to the Emirates News Agency (WAM), he said that Aldar reported AED8.9 billion in Q1 sales, a 42 per cent year-on-year increase, with portfolio occupancy rates exceeding 95 per cent by the end of the quarter. Abu Dhabi posted AED25.3 billion in total real estate transactions, up 34.5 per cent from Q1 2024. This included 3,819 sale deals worth AED15.51 billion—up 26.7 per cent—and 3,077 mortgage transactions totalling AED9.8 billion, a 49 per cent increase, according to the Abu Dhabi Real Estate Centre. Dubai accounted for the largest share, with AED193 billion in real estate transactions, resulting from 58,039 transactions, a growth of 16.2 per cent in value and 31.5 per cent compared to 2024. The Dubai Land Department reported AED142 billion in sales from 45,077 deals, marking a 30 percent increase in value compared to the same period last year. Mortgages reached AED41 billion from 10,949 transactions, up 27 percent in volume. The remainder came from grants and exchanges. Sharjah recorded AED13.2 billion in property transactions from 24,597 deals, up 31.9 per cent year-on-year, data from the Sharjah Real Estate Registration Department showed. Ajman registered AED5.55 billion in total transactions, reflecting a 29 per cent increase. Of this, AED3.69 billion came from 3,132 sales and purchase transactions, and AED905 million from 498 mortgage transactions, with the remainder comprising grants and property exchanges. In Ras Al Khaimah, residential off-plan sales exceeded AED2.4 billion from more than 1,300 transactions, according to a report by CBRE, highlighting continued demand in the northern emirate's housing market.
Zawya
30-04-2025
- Business
- Zawya
Aldar Properties profit before tax jumps 33% to $599mln
Aldar Properties has reported a 33% year-on-year increase in profit before tax to AED2.2 billion ($599 million) for the first quarter of 2025, with net profit after tax rising by 22% year-on-year to AED1.9 billion. Mohamed Khalifa Al Mubarak, Chairman of Aldar, said the company's performance at the beginning of the year reflects the strength and diversification of its business sectors, and its ability to operate efficiently and grow in line with a clear strategy to create sustainable long-term value, said a Wam news agency report. He added that the UAE offers a conducive environment for stability and business growth, with a focus on investing in vital sectors, attracting business, and diversifying the economy. He said Aldar is well positioned to deliver sustainable performance, deploy capital efficiently, and strengthen its role as a long-term partner in shaping the UAE's economic development, noting that the development revenue backlog has reached a record AED55.7 billion. Talal Al Dhiyebi, Group CEO of Aldar, said Aldar delivered strong financial results in the first quarter, driven by continued momentum across its core business segments. Development sales remained strong, increasing by 42% to AED8.9 billion. Meanwhile, construction is progressing on new projects in line with plans amid sustained demand from both local and international buyers, he said. He added that at the start of the year, Aldar proactively took steps to strengthen its financial position and enhance liquidity through capital markets issuances and securing a syndicated loan. In terms of key financial highlights, Aldar recorded AED46.7 billion in UAE revenue backlog, indicating strong revenue visibility over the next two to three years. Sales to international and resident buyers in the UAE rose to AED7.4 billion, representing 87% of total UAE sales. Aldar further enhanced its capital structure and financial flexibility through the issuance of AED3.7 billion in hybrid capital notes, AED1.8 billion in green sukuk, and securing AED9 billion in syndicated revolving credit facilities and a AED1.8 billion hybrid capital solution from Apollo. The project management services backlog reached AED88.7 billion as of the end of March 2025, of which AED49.5 billion is under construction, reflecting strong government investment in infrastructure and housing. In Q1, Aldar also recorded a 25% year-on-year increase in earnings per share to AED0.20, supported by earnings growth across all platforms. Aldar maintains a strong liquidity position to support its growth plans, with AED10.2 billion in unrestricted cash and AED19.3 billion in undrawn bank facilities as of end-March. Aldar Development recorded a 46 percent year-on-year increase in revenue to AED5.7 billion, with EBITDA rising by 50 percent to AED1.8 billion, driven by revenue backlog and strong sales from new launches and existing inventory amid sustained international demand. Aldar Investment continued to deliver on its diversification and growth strategy, with EBITDA rising by 10% year-on-year to AED764 million — a 20% increase excluding gains from asset sales — while assets under management grew to AED46 billion. Internationally, SODIC contributed AED172 million in revenue to Aldar Development, with revenue backlog reaching AED6.3 billion by end-March 2025. London Square contributed AED135 million to Aldar Development revenue. Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Trade Arabia
29-04-2025
- Business
- Trade Arabia
Aldar Properties profit before tax jumps 33% to $599m
Aldar Properties has reported a 33% year-on-year increase in profit before tax to AED2.2 billion ($599 million) for the first quarter of 2025, with net profit after tax rising by 22% year-on-year to AED1.9 billion. Mohamed Khalifa Al Mubarak, Chairman of Aldar, said the company's performance at the beginning of the year reflects the strength and diversification of its business sectors, and its ability to operate efficiently and grow in line with a clear strategy to create sustainable long-term value, said a Wam news agency report. He added that the UAE offers a conducive environment for stability and business growth, with a focus on investing in vital sectors, attracting business, and diversifying the economy. He said Aldar is well positioned to deliver sustainable performance, deploy capital efficiently, and strengthen its role as a long-term partner in shaping the UAE's economic development, noting that the development revenue backlog has reached a record AED55.7 billion. Talal Al Dhiyebi, Group CEO of Aldar, said Aldar delivered strong financial results in the first quarter, driven by continued momentum across its core business segments. Development sales remained strong, increasing by 42% to AED8.9 billion. Meanwhile, construction is progressing on new projects in line with plans amid sustained demand from both local and international buyers, he said. He added that at the start of the year, Aldar proactively took steps to strengthen its financial position and enhance liquidity through capital markets issuances and securing a syndicated loan. In terms of key financial highlights, Aldar recorded AED46.7 billion in UAE revenue backlog, indicating strong revenue visibility over the next two to three years. Sales to international and resident buyers in the UAE rose to AED7.4 billion, representing 87% of total UAE sales. Aldar further enhanced its capital structure and financial flexibility through the issuance of AED3.7 billion in hybrid capital notes, AED1.8 billion in green sukuk, and securing AED9 billion in syndicated revolving credit facilities and a AED1.8 billion hybrid capital solution from Apollo. The project management services backlog reached AED88.7 billion as of the end of March 2025, of which AED49.5 billion is under construction, reflecting strong government investment in infrastructure and housing. In Q1, Aldar also recorded a 25% year-on-year increase in earnings per share to AED0.20, supported by earnings growth across all platforms. Aldar maintains a strong liquidity position to support its growth plans, with AED10.2 billion in unrestricted cash and AED19.3 billion in undrawn bank facilities as of end-March. Aldar Development recorded a 46 percent year-on-year increase in revenue to AED5.7 billion, with EBITDA rising by 50 percent to AED1.8 billion, driven by revenue backlog and strong sales from new launches and existing inventory amid sustained international demand. Aldar Investment continued to deliver on its diversification and growth strategy, with EBITDA rising by 10% year-on-year to AED764 million — a 20% increase excluding gains from asset sales — while assets under management grew to AED46 billion. Internationally, SODIC contributed AED172 million in revenue to Aldar Development, with revenue backlog reaching AED6.3 billion by end-March 2025. London Square contributed AED135 million to Aldar Development revenue.
Trade Arabia
12-02-2025
- Business
- Trade Arabia
Emsteel delivers $2.26bn in revenue for 2024
Emsteel, one of the largest publicly traded steel and building materials manufacturers in the region, has delivered total revenues of AED8.3 billion ($2.26 billion) for financial year 2024, approximately 6% lower than the AED8.9 billion reported for 2023. This decrease in revenue is due to various factors, including fluctuations in global steel prices, increased competition, and changing demand trends driven by economic uncertainties in key markets, the company said. Despite the challenging market environment Emsteel realised a solid profit before tax of AED432 million and a net profit after tax of AED392 million. The net profit was supported by the reversal of an impairment taken during Covid, with a net positive impact of AED189 million. Financial highlights for 2024: • During 2024, Emsteel maintained overall steel production volumes in line with the level attained during 2023. • Emsteel's profitability margins have been affected by an increase in low-priced Chinese steel exports, which have directly or indirectly impacted prices in several of the group's key markets, including the GCC and important export destinations like Europe and the US. * The group further strengthened its balance sheet, realising a positive net cash generation of AED401 million resulting in a balance sheet free of net debt. • In 2024, Emsteel recorded EBITDA of AED892 million, with a margin of 10.9%, compared to 14.2% in 2023. Emsteel's FY24 profitability was supported by a significant improvement of the group's EBITDA during the fourth quarter of the year, amounting to AED247 million, up 81% compared to the third quarter of 2024. One of the key factors was Emsteel's ability to leverage increased UAE construction activity, which supported rebar demand and allowed the group to maximise capacity utilisation, while at the same time improving price realisation in this core segment. • Revenue from the group's Emirates Steel division totalled AED7.6 billion during 2024, generating an EBITDA of AED680 million. Emirates Steel's performance was impacted by adverse global market conditions. • Revenue from the group's Emirates Cement division was AED0.8 billion in 2024, with an EBITDA of AED212 million. Within the Cement division the Pipes & Other segment is reported as assets held for sale as a divestment process is ongoing. Revenue for this segment amounted to AED156 million in 2024. • As of the end of 2024, the group continues to maintain a robust liquidity position, with AED823 million cash in hand compared to AED426 million as of 31 December 2023. Hamad Al Hammadi, Chairman, Emsteel, said: '2024 has been a year of transformation for Emsteel. With the evolution of our corporate identity and our key business divisions, our team has demonstrated exceptional adaptability and focus, enabling us to deliver innovative solutions and services, and to continue creating value for our stakeholders. These efforts reaffirm our vision to lead the industry toward a low-carbon future while strengthening our position as the UAE's largest publicly traded steel and building materials manufacturer.' Eng Saeed Ghumran Al Remeithi, Group Chief Executive Officer, Emsteel, said: 'In 2024, Emsteel demonstrated resilience in navigating a dynamic and challenging market environment. Despite these headwinds, we remain committed to innovation, sustainability and accelerating the adoption of low-carbon solutions. A key milestone is our pilot green hydrogen project with Masdar, a critical step in decarbonising this hard-to-abate sector. "Looking ahead, we embrace our role as pioneers in sustainable innovation, laying the foundation for a low-carbon iron hub, with strategic partnerships driving our vision of a more sustainable and resilient future for all. The UAE's expanding construction sector, with $772 billion in ongoing and upcoming projects, further strengthens our growth strategy. With 52% of projects in planning, design, or tender stages, the country's infrastructure boom will continue to drive demand for sustainable steel and building material solutions, positioning Emsteel as a key enabler of economic and developmental progress.' -
