Latest news with #AldarDevelopment
Gulf Business
30-07-2025
- Business
- Gulf Business
Aldar reports 24% rise in H1 net profit, revenue grows 42% YoY
Image: Aldar Aldar Properties reported a 24 per cent year-on-year increase in net profit after tax to Dhs4.1bn for H1 2025, driven by strong development sales, the recognition of a record revenue backlog, and continued expansion across its investment platform. H1 revenue rose 42 per cent year-on-year to Dhs15.5bn, while gross profit grew 39 per cent to Dhs5.3bn. EBITDA increased 38 per cent to Dhs5.3bn. Net profit before tax reached Dhs4.7bn, up 35 per cent year-on-year, with earnings per share rising 27 per cent to Dhs0.45. In Q2 alone, Group development sales hit Dhs18.3bn in H1 2025, up 31 per cent year-on-year, boosted by five new UAE project launches and robust demand for existing inventory. The development backlog rose to a record Dhs62.3bn, including Dhs53.4bn in the UAE, providing strong visibility for revenue over the next two to three years. Sales to overseas and expatriate customers reached Dhs14.7bn, accounting for 84 per cent of total UAE sales in H1. In July, Aldar set a new benchmark with the Dhs400m sale of a mansion at Faya Al Saadiyat, while in May, a residential building in Mamsha Gardens was sold to Hong Kong's Gaw Capital for Dhs586m, marking the firm's first UAE investment. Read: Aldar Development revenue soars 50 per cent in H1 Revenue from Aldar Development rose 50 per cent year-on-year to Dhs11.3bn in H1 2025, with EBITDA increasing 47 per cent to Dhs3.3bn. Q2 development revenue was up 54 per cent to Dhs5.6bn, as the group continued to execute its revenue backlog. Project management services backlog hit Dhs86bn at the end of June, with Dhs56.9bn under construction. UAE sales totalled Dhs17.5bn in H1 2025, rising 35 per cent year-on-year, with Q2 alone contributing Dhs9.0bn, up 32 per cent. Internationally, Egypt-based SODIC contributed Dhs291m in revenue and Dhs536m in sales, with a backlog of Dhs6.6bn. In the UK, London Square added Dhs710m in revenue and Dhs362m in sales. London Square's revenue backlog reached Dhs2.3bn, following multiple launches and acquisitions. Aldar Investment delivers 18 per cent EBITDA growth Aldar Investment reported H1 revenue of Dhs3.8bn, up 16 per cent year-on-year, with adjusted EBITDA increasing 18 per cent to Dhs1.6bn. In Q2, revenue rose 18 per cent to Dhs1.9bn, while adjusted EBITDA climbed 26 per cent to Dhs789m. Assets under management reached Dhs47bn, supported by strategic acquisitions including commercial and residential properties in Masdar City. High occupancy and strong rental growth across asset classes drove performance, with commercial assets at 99 per cent occupancy and residential at 98 per cent. Retail EBITDA increased 12 per cent in H1 to Dhs277m, with Yas Mall occupancy at 98 per cent and footfall up 15 per cent. Logistics EBITDA rose 14 per cent to Dhs35m, with further growth expected from newly acquired ALMARKAZ assets and upcoming cold storage facilities. Hospitality occupancy stood at 70 per cent, with RevPAR up 3 per cent and ADR up 8 per cent. EBITDA declined 4 per cent year-on-year in H1 to Dhs171m, due to asset redevelopments. Aldar Education's EBITDA rose 9 per cent to Dhs127m, with enrolment reaching 37,000. Aldar Estates' EBITDA increased 24 per cent to Dhs192m, driven by synergies across its integrated property and facilities management portfolio. Robust balance sheet and liquidity As of June 30, Aldar reported Dhs12.2bn in free cash and Dhs17.5bn in undrawn bank facilities. A new Dhs500m revolving credit facility raised H1 capital generation to Dhs16.8bn. Customer net promoter score (NPS) rose by 27 per cent during Q2. Aldar received an MSCI ESG rating upgrade to 'A' and was included in the FTSE4Good Index. The company also met its 2026 Emiratisation target ahead of schedule, with Emiratis now representing 44.6 per cent of its workforce. Environmental achievements include a 30 per cent improvement in energy use intensity and a 24 per cent reduction in embodied carbon. Aldar also recycled 96 per cent of construction and demolition waste. Aldar partnered with Emirates Steel to source hydrogen-based rebar for Abu Dhabi's first net zero carbon mosque and signed a Fitwel-certified health-focused masterplan for Fahid Island, which also received LEED Platinum pre-certification. Commenting on the results, Aldar chairman Mohamed Khalifa Al Mubarak said the company is well-positioned to capitalise on demand for high-quality real estate, supported by the UAE's macroeconomic fundamentals and growing global profile. Group CEO Talal Al Dhiyebi added that the company will continue to focus on scaling its development and investment platforms while aligning residential launches with market demand.
IOL News
28-07-2025
- Business
- IOL News
Record-breaking Abu Dhabi mansion sale sets new standard in luxury real estate
Living in style on an island has set the new owner of this lavish mega-mansion more than US$100 million. The eight-bedroom mansion is part of Faya Al Saadiyat, a beachfront community located on one of the last remaining villa plots on Saadiyat Island. This makes it one of the most costly residential deals in the emirate, according to Aldar, the master-developer of Saadiyat Island, Gulf News reported. A luxury mansion on the shores of Saadiyat Island in Abu Dhabi has sold for a whopping Dh400 million - that's $108.9 million. restore all settings to the default values Reset restore all settings to the default values Done Beginning of dialog window. Escape will cancel and close the window. Seek to live, currently behind live "Recognised as the crown jewel of Abu Dhabi's luxury real estate, Saadiyat Island continues to attract homebuyers and investors from around the world," said Jonathan Emery, CEO at Aldar Development. "The sale reflects the sustained growth of Abu Dhabi's luxury real estate market." The master-built mansion is located directly on Saadiyat Island's beach and within the Saadiyat Beach Golf Club, and boasts the largest allocation of space on the island, spanning 6,561 square metres. The development company said the sale reflected the growing demand from high-net-worth buyers, long-term residents and international investors. Foreign residents accounted for 86 percent of buyers who were mainly nationals of Russia, France, the UK, China and the US. Instagram comments included wry references to how the mansion was built for the super-rich by poorly-paid migrant labourers, while most were light-hearted. House_of_stan 3h posted: "Seems my bid didn't get accepted", while the green monster of jealousy seemed to surface in joe_familywealth101 3h, who shared: "Imagine the upkeep costs."
Zawya
24-06-2025
- Business
- Zawya
Most GCC equity indices jump in early trade as ceasefire comes into effect
GCC equity markets rose in early trade on Tuesday as a ceasefire in the 12-day war between Iran and Israel came into effect today. Dubai's DFM general Index rose 2.9% soon after open, powered by Air Arabia which surged more than 6.2% to 3.39 dirhams ($0.92). 'Today's jump in the markets is a reaction to the positive developments in the geopolitical space. The Dubai index is already near pre-conflict level,' Nishit Lakhotia, Head of Research at Bahrain-based investment bank SICO, told Zawya. The Abu Dhabi Securities Exchange (ADX) also rose 1.8% soon after open. Aldar Development was the star performer, rising 7.5% to AED 8.7. Elsewhere in the GCC, Qatar's main index QSI was up 2% in early trade. Saudi Arabia's TASI index rose 1.3% Kuwait bourse rose nearly 2%, led by Jazeera Airlines, which jumped 8.8%. Bahrain's All Share Index was 1.7% higher. Regional airline stocks in particular had taken a beating over the last few days as the missile attacks led to flight cancellations and closed airspaces. 'In terms of sectors – airlines will see an immediate recovery as air space opens and travel recovers in the busy summer month. However, Q2 will see the impact of the of the last 12 days,' said Lakhotia. While airline stocks may rebound faster than the broader market, they are unlikely to surpass pre-conflict levels immediately, he added. Oman's Muscat Stock Exchange was the only underperformer, with the MSX30 declining 0.3%. The US President Donald Trump on Monday night stated that Iran and Israel had agreed to a ceasefire and that it was in effect. (Reporting by Brinda Darasha; editing by Seban Scaria)
Al Etihad
02-06-2025
- Business
- Al Etihad
Abu Dhabi to get Dh40bn wellness island as Aldar bets big on lifestyle-led urban growth
3 June 2025 01:00 ISIDORA CIRIC (ABU DHABI)Abu Dhabi's real estate ambitions just got a Dh40 billion wellness upgrade, with Fahid Island — Aldar's newest development — indicating that intent, rather than scale alone, has become a defining feature of the emirate's urban planning between Yas Island and Saadiyat, the 2.7 million square metre masterplan blends residential, recreational, and natural spaces, creating a mixed-use community where every resident lives within a five-minute walk of the sea and no more than 250 metres from green island, marketed as Abu Dhabi's first wellness-focused destination, includes more than 6,000 homes, a top-tier international school, retail and hospitality offerings, and 30% of the land reserved for green areas. 'Wellness is a mega trend, and for Aldar, that's not a new thing. Whether it's spa and hospitality, food and nutrition, sleep and breathing - it's everywhere,' Jonathan Emery, CEO of Aldar Development, said in an interview with Aletihad on Monday. 'The challenge for Aldar is, how do we bring that into a physical real estate solution? How do you actually make it real? Rather than just an experience, we have to build the stage for it, and that's what we're trying to do.' Designing for Wellbeing, Rooted in Community Fahid Island's masterplan builds on what Aldar has learned from years of work on Yas and Saadiyat. But Emery is quick to point out that this isn't a cut-and-paste version of previous he said, the project aims to respond to the new expectations of both local and international buyers, many of whom are looking for something different post-pandemic - more nature, less distance, and a quieter, more intentional way of a result, Fahid Island is being designed as a fully walkable and connected environment, with 15km of shaded pedestrian routes and bridges connecting both sides of the island to limit car use. It will also feature a 10km landscaped Berm Park, complete with cycling routes and running trails, and a 2km promenade.'We've learned how to optimise the natural benefits of the island,' Emery said. 'How to work with the mangroves, even with the wind, the sea, and the sun. Just understanding what those things mean to people.'The emphasis on proximity, ecology and liveability also ties into the UAE's current national theme, the Year of Community. In the case of Fahid Island, that has meant prioritising walkability, shared public areas and amenities that bring residents into contact with one another. Emery described this approach as rooted in the UAE's sense of 'generosity', not in scale, but in how space is shared.'It's about how we allocate space and how we create opportunities for people to meet. That's very much in line with the values of the UAE, and the kind of community we're trying to build.' Backed by Strong Funding and Market Momentum The first phase of Fahid Island, which includes the school and residential buildings, is expected to be completed by 2029. Later phases will be delivered over the following three developer acquired the land in early 2023 for Dh2.5 billion, initially estimating the site's gross development value at Dh26 billion, which has since grown to surpass Dh40 to Aldar, the project is already fully funded through a mix of corporate financing, bonds, sukuk, and projected sales. Sales are expected to begin shortly after the Eid Al-Adha, with one-bedroom units starting at Dh3.5 company is forecasting total development sales of between Dh36 billion and Dh39 billion in 2025, up from Dh33.6 billion last year, and Fahid Island is likely to play a substantial role in meeting those targets. Its launch comes amid a broader upswing in Abu Dhabi's real estate market, where demand for high-end, waterfront communities surged by 15% in 2024, according to a recent report by MPM Properties. Investor confidence received an added boost last month with the announcement of a Disney theme park on nearby Yas revealed that interest in Fahid Island has come from both international and local buyers, though the domestic market has shown particular strength. He attributes this resilience to a mix of ambition, talent, and the UAE's solutions-oriented approach.'The talent that now exists in the UAE is sort of unprecedented - it's an incredible place to be,' he said. 'It's an amazing talent pool that can help it achieve its ambition.' 'That, combined with a focus on quality and problem-solving, is what's driving the next phase of development.'
Arabian Business
15-05-2025
- Business
- Arabian Business
Abu Dhabi's Aldar launches first Waldorf Astoria-branded residences on Yas Island
Aldar has announced the launch of Waldorf Astoria Residences Yas, the first branded residential development on Yas Island, Abu Dhabi, offering a collection of 133 furnished residences that combine luxury living with the hospitality of Waldorf Astoria. Positioned adjacent to Yas Links Golf Course and offering views of the Yas Marina Circuit and surrounding mangrove waterfront, the development marks the debut of Waldorf Astoria Residences in Abu Dhabi. 'As the first Waldorf Astoria Residences in Abu Dhabi and the first ever branded residential product on Yas Island, Waldorf Astoria Residences Yas is set to become the most enviable address on the island, offering residents unmatched luxury, an iconic lifestyle and signature experiences,' said Jonathan Emery, Chief Executive Officer of Aldar Development. 'With direct access to Yas Links and surrounding amenities, residents will have an opportunity to be immersed in the most vibrant neighbourhood in the region while experiencing Waldorf Astoria's globally renowned hospitality every day,' he added. Designed by Nordic Office Architects, the project features three buildings that integrate biophilic principles and reflect the character of Yas Island. London-based KZ Design Services led the interiors, with layouts including one-to-three-bedroom apartments, one-bedroom duplexes, and four-bedroom penthouses. Amenities include 24/7 personal concierge service, a residents' lounge inspired by Peacock Alley, a world-class fitness and spa facility, swimming pool overlooking the golf course, kids club, simulator room, games room, and cinema. In line with Aldar's sustainability goals, the development targets a 3 Pearl Estidama and 2 Star Fitwel rating. Aldar aims to cut construction-related emissions by 25 per cent through the use of low-carbon concrete and steel, while the buildings are expected to be 35 per cent more energy-efficient and 45 per cent more water-efficient than established global and local benchmarks. The development will launch for sale on May 22 at Hilton Abu Dhabi Yas Island.
