Latest news with #AldarProperties
Time of India
12 hours ago
- Business
- Time of India
Aldar Properties posts 24% rise in profit in H1 2025
Abu Dhabi 's largest developer Aldar Properties reported a 24% jump in first-half profit on Tuesday, driven by a record development backlog and surging international demand - led by Chinese buyers. Aldar, the builder behind Ferrari World and lavish island properties in Abu Dhabi, made a net profit of 4.1 billion UAE dirhams ($1.12 billion) in the half ended June 30, as the group's development sales grew 31% to 18.3 billion dirhams. The growth in sales was driven by "a growing stream of international buyers" in the United Arab Emirates, with Chinese investors at the forefront, Chief Financial and Sustainability Officer Faisal Falaknaz told reporters. Sales to Chinese buyers hit 1.7 billion dirhams in the first half of 2025, already exceeding the 1.5 billion dirhams recorded for all of 2024, Falaknaz said. The UAE's real estate market continues to build momentum, drawing interest from institutional investors and private equity firms alike as they seek stable returns and the Gulf's low taxes, political stability and luxury properties draw investors from countries like China and Russia. International buyers and expats made up 84% of Aldar's UAE sales in the first half of 2025, up from 78% in 2024 and 66% in 2023. The firm, which recently acquired developers in Egypt and the UK, said it has no plans for further international expansion and is focusing instead on its domestic operations. "The UAE, Abu Dhabi, Dubai, Ras Al Khaimah will continue to be the primary focus going forward," Falaknaz said. Aldar launched five new projects in the Emirates in the first half. Aldar's development backlog rose to 62.3 billion dirham by the end of June, 53.4 billion of which is in the UAE.
The National
21 hours ago
- Business
- The National
Aldar's affordable housing portfolio a 'top priority' amid growing UAE population
Aldar Properties, Abu Dhabi's biggest listed developer, will continue to ensure more affordable housing options to cater to a growing population in the UAE, its chief finance and sustainability officer has said. The affordable segment, alongside its industrial and logistics portfolio, is a 'top priority' for the company's recurring investments, Faisal Falaknaz told The National during a conference call after the company released its second-quarter results on Tuesday. 'That is one of the top asset classes that we are focused on growing today in terms of our capital allocation priority … there's a lot of pent-up demand for more affordable offerings in Abu Dhabi and Dubai,' Mr Falaknaz said. 'We have a lot happening in the pipeline and, in due course, we'll be announcing those.' Aldar reported a 25 per cent annual jump in its second-quarter net profit, underpinned by higher sales and a strong UAE economy. Net profit in the three months ended June rose to Dh2.2 billion ($599 million), the company said on Tuesday in a filing to the Abu Dhabi Securities Exchange, where its shares are traded. Revenue for the quarter leapt 46 per cent year-on-year to Dh7.7 billion, while earnings before interest, taxes, depreciation and amortisation, a key metric of profitability, climbed 39 per cent to Dh2.8 billion. For the first half of 2025, net profit surged 24 per cent annually to Dh4.1 billion. Revenue leapt 42 per cent to Dh15.5 billion, while Ebitda increased 38 per cent to Dh5.3 billion. Aldar said total sales in the second quarter rose 32 per cent annually to Dh9 billion, while first-half sales grew 35 per cent to Dh17.5 billion. Aldar's performance through the first six months of the year comes 'against a backdrop of positive macroeconomic fundamentals, underpinned by the UAE's strong fiscal position and sustained investment across key sectors', said Mohamed Al Mubarak, chairman of Aldar. Furthermore, Aldar currently has no plans to raise more capital in the near future, said Mr Falaknaz. The company has a 'very strong' balance sheet with about Dh30 billion in liquidity and is not looking to expand into other overseas markets outside Egypt and the UK, he said. Real estate remains one of the key pillars of UAE's economy, proving its resilience after strongly bouncing back from the dip brought about by the pandemic. Government measures such as residency permits for retired and remote workers and expansion of the 10-year golden visa programme have boosted foreign investment flows into the Emirates' property market over the past few years. The robust momentum in the UAE's economy − the Arab world's second largest − driven by the government's diversification efforts, have also support real estate market activity. Also, millionaire investors are increasingly looking towards Abu Dhabi real estate. The UAE capital is home to the highest number of luxury properties on sale in the country, with 352 homes for sale valued above $1 million, a recent report by developer Bloom Holding found. Last week, Aldar announced that it sold an eight-bedroom ultra-luxury mansion for Dh400 million, which it claimed was the most expensive home ever sold in the UAE capital. 'Our development business recorded high demand across existing inventory and launches … our focus remains on delivering our substantial develop-to-hold pipeline, while maintaining a steady pace of residential launches aligned to market demand,' said Talal Al Dhiyebi, group chief executive of Aldar.
Zawya
a day ago
- Business
- Zawya
Abu Dhabi-listed Aldar's development backlog hits $17bln by end of H1 2025
Aldar Properties, Abu Dhabi's largest listed developer, said its development backlog rose to 62.3 billion UAE dirhams ($16.96 billion) at the end of June 2025, up from AED 54.6 billion for the first half of 2024. The backlog provides strong visibility on UAE and international revenue over the next two to three years, the developer said in a statement on Tuesday. The UAE portion of the backlog is AED 53.4 billion, the statement noted. Project Management Services, the Group's dedicated project delivery arm for both in-house and Abu Dhabi government's projects, reported a backlog of AED 86 billion by the end of June 2025, with AED 56.9 billion under construction, reflecting the strong pipeline of government investment in infrastructure and housing In the first half of 2025, Aldar's sales totalled AED 17.5 billion, a 35 percent increase year-on-year (YoY), driven by strong demand for existing developments and the five new launches year to date. Total UAE sales in the second quarter of 2025 increased 32 percent YoY to AED 9 billion. Aldar launched three projects in the second quarter, which include Fahid Beach Residences, The Beach House, and Waldorf Astoria Residences Yas. (Writing by P Deol; Editing by Anoop Menon) (
Zawya
a day ago
- Business
- Zawya
UAE's Aldar reports 25% jump in Q2 net profit, beats estimates
Abu Dhabi real estate developer and asset manager Aldar Properties reported a 25% year-on-year (YoY) growth in Q2 2025 net profit to 2.2 billion UAE dirhams ($599 million) on strong development sales and expansion of its investment properties portfolio. The effort easily beat analysts' mean estimate of AED 1.82 billion, according to data provider LSEG. The Abu Dhabi-listed company reported AED 7.7 billion in revenue for the quarter, a 46% YoY growth. The company also saw a jump in its H1 figures, with net profit after tax rising 24% YoY to AED 4.1 billion. Assets under management reached AED 47 billion, with the company reporting AED 12.2 billion in free and unrestricted cash, and AED 17.5 billion in committed undrawn bank facilities as at end of June. Aldar's development backlog rose to AED 62.3 billion, including AED 53.4 billion in UAE. (Writing by Bindu Rai, editing by Brinda Darasha)
The National
a day ago
- Business
- The National
Aldar's Q2 profit jumps 25% on higher sales and strong UAE economy
Aldar Properties, Abu Dhabi's biggest listed developer, has posted a 25 per cent annual jump in its second-quarter net profit, underpinned by higher sales and a strong UAE economy. Net profit in the three months ended June rose to Dh2.2 billion ($599 million), the company said on Tuesday in a filing to the Abu Dhabi Securities Exchange, where its shares trade. Revenue for the quarter leapt 46 per cent year-on-year to Dh7.7 billion, while earnings before interest, taxes, depreciation and amortisation, a key metric of profitability, climbed 39 per cent to Dh2.8 billion. For the first half of 2025, net profit surged 24 per cent annually to Dh4.1 billion. Revenue leapt 42 per cent to Dh15.5 billion, while Ebitda increased 38 per cent to Dh5.3 billion. Aldar's performance through the first six months of the year comes 'against a backdrop of positive macroeconomic fundamentals, underpinned by the UAE's strong fiscal position and sustained investment across key sectors', said Mohamed Al Mubarak, chairman of Aldar.
