Latest news with #InterContinental
Zawya
16 hours ago
- Business
- Zawya
Aldar delivers 24% net profit growth in H1 2025 driven by recognition of revenue backlog and investment platform expansion
RELATED TOPICS EARNINGS RELATED COMPANIES Gaw Cap Prtnrs DP Gaw Cap Prtnrs Adj Sheet Metal Emsteel Building InterContinental H1 2025 Group Highlights H1 net profit before tax up 35% YoY to AED 4.7 billion, while net profit after tax rose 24% YoY to AED 4.1 billion.1 Earnings per share grew 27% YoY to AED 0.45 in H1 on the back of cross-platform earnings growth. Strong group development sales of AED 18.3 billion in H1, up 31% YoY, due to high demand for existing inventory and five new UAE launches: two projects on Fahid Island, Waldorf Astoria Residences Yas, Manarat Living III and The Wilds in Dubai. Development backlog rose to a record AED 62.3 billion, including AED 53.4 billion in UAE, driving revenue recognition over next 2-3 years. Sustained appeal among international buyers, with UAE sales to overseas and expat resident customers reaching AED 14.7 billion, 84% of total H1 UAE sales. Record AED 400 million sale of a mansion at Faya Al Saadiyat in July reflects appeal of Abu Dhabi's luxury segment and increased investment among UHNWIs. A residential building in Mamsha Gardens sold to Hong Kong private equity firm GAW Capital for AED 586 million, illustrating growing global institutional investment in UAE real estate sector. Positive market conditions, high occupancy levels, and elevated rental rates drove an 18% YoY increase in Aldar Investment's adjusted EBITDA to AED 1.6 billion in H1, with assets under management reaching AED 47 billion. Commercial and residential assets in Masdar City acquired through the Mubadala partnership made a significant contribution, delivering on the strategic aim to further scale and diversify across the investment properties portfolio. The logistics platform was expanded through the AED 530 million acquisition of high-quality, income-generating warehousing and light industrial assets in ALMARKAZ Industrial Park in Abu Dhabi. Further expansion of Aldar Education's high-quality school offering through a strategic partnership with King's College School Wimbledon to establish a super-premium K–12 campus on Fahid Island. Progress in sustainability reflected in an MSCI ESG rating upgrade to 'A' from 'BBB', and inclusion in the FTSE4Good Index Series. Strong liquidity position supports prudent growth agenda with 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 Development revenue in Q2 2025 surged 54% YoY to AED 5.6 billion. In H1 2025, revenue jumped 50% YoY to AED 11.3 billion, with EBITDA increasing 47% to AED 3.3 billion, predominately driven by successful execution of the revenue backlog from new and existing projects. Group sales in Q2 2025 rose 22% to AED 9.4 billion maintaining a strong, sustainable run rate. H1 2025 Group sales were up 31% YoY to AED 18.3 billion, with both existing inventory and new launches - mostly in the UAE - performing strongly driven by the global sales network and robust domestic demand. Group revenue backlog reached a record AED 62.3 billion at the end of June 2025, up from AED 54.6 billion in FY 2024 providing strong visibility on UAE and International revenue over the next 2-3 years. Project management services backlog at the end of June 2025 was AED 86.0 billion, with AED 56.9 billion under construction, reflecting the strong pipeline of government investment in infrastructure and housing. The platform manages a large portfolio of projects at various stages of development for both the Government of Abu Dhabi and Aldar. UAE Total UAE sales in Q2 2025 increased 32% YoY to AED 9.0 billion. In H1 2025, UAE sales totalled AED 17.5 billion, a 35% increase YoY, driven by strong demand for existing developments and the five new launches year to date. Aldar launched three projects in Q2 2025: Fahid Beach Residences, The Beach House, and Waldorf Astoria Residences Yas. The sale of an AED 400 million mansion at Faya Al Saadiyat in July set an Abu Dhabi record, reflecting the UAE capital's appeal as a mature, lifestyle-driven investment destination. UAE sales to overseas and expatriate buyers increased to AED 7.3 billion in Q2 2025 and AED 14.7 billion in H1 2025, representing 82% and 84% of total UAE sales respectively. In May, Aldar sold a 71-unit residential building at Mamsha Gardens in Saadiyat Cultural District to Hong Kong-based private equity firm Gaw Capital Partners for AED 586 million. This marks Gaw Capital's first investment in the UAE and highlights Abu Dhabi and Aldar's growing appeal to global institutional capital. UAE revenue backlog at the end of June 2025 stood at a record AED 53.4 billion, up from AED 45.9 billion in FY 2024, with an average duration of 30 months. Cash collections in Q2 2025 stood at AED 4.3 billion, taking the H1 2025 total to AED 7.9 billion as the company pursues accelerated delivery of projects. International SODIC SODIC contributed AED 120 million (EGP 1.6 billion) in revenue in Q2 2025 and AED 291 million (EGP 4.0 billion) in H1 2025 to Aldar Development. SODIC's sales totalled AED 307 million (EGP 4.1 billion) in Q2 2025 and AED 536 million (EGP 7.2 billion) in H1 2025. Revenue backlog reached AED 6.6 billion (EGP 89.5 billion) at the end of June 2025, with an average duration of 37 months. In May, SODIC signed a revenue-sharing agreement to develop a major land parcel in New Sphinx City, West Cairo, which is expected to generate over EGP 353 billion in sales. SODIC will receive 79% of revenues from the project. London Square London Square's contribution to Aldar Development's revenue was AED 575 million (GBP 117 million) in Q2 2025 and AED 710 million (GBP 146 million) in H1 2025. London Square sales in Q2 2025 totalled AED 99 million (GBP 17 million), bringing total H1 2025 sales to AED 362 million (GBP 72 million). The revenue backlog rose to AED 2.3 billion (GBP 449 million) at the end of June 2025, with an average duration of 31 months. London Square completed two land acquisitions and three new launches in H1 2025, bringing the total to 15 land acquisitions and six launches since Aldar's acquisition of the company at the end of 2023. The platform is set to drive accelerated growth in H2 2025, underpinned by continued integration into Aldar's sales network, with 25% of H1 sales driven by cross-selling through the World of Aldar platform. Aldar investment Comprises four main segments representing AED 47 billion of assets under management (AUM): Investment Properties houses Aldar's main asset management business comprising prime real estate assets across retail, residential, commercial, and logistics segments. Aldar Hospitality owns a portfolio of hotels as well as leisure assets principally located in Abu Dhabi and Ras Al Khaimah. Aldar Education is the leading private education provider in Abu Dhabi with 31 owned and managed schools primarily across the UAE. Aldar Estates is the region's largest integrated property and facilities management platform. Aldar Investment's revenue in Q2 2025 increased 18% to AED 1.9 billion while Adj. EBITDA rose 26% YoY to AED 789 million. For H1 2025, revenue increased 16% to AED 3.8 billion, with the platform's Adj. EBITDA rising 18% to reach AED 1.6 billion. High occupancy and strong rental growth across the core investment portfolio underpinned solid performance, further supported by strategic acquisitions, including Masdar City assets, which have driven the platform's assets under management to AED 47 billion. Aldar's develop-to-hold pipeline, valued at AED 14.3 billion, is set to drive further scale, diversification, and earnings growth over the next three years. Investment Properties Adj. EBITDA rose 20% YoY to AED 495 million in Q2 2025 and increased 17% YoY to AED 993 million in H1 2025, supported by active asset management and portfolio expansion, while the strength of the UAE economy has supported demand and rental growth across asset classes. Portfolio occupancy stood at 97% as at end of June. Commercial Adj. EBITDA increased 23% YoY to AED 208 million in Q2 2025 and rose 11% YoY to AED 420 million in H1 2025. The strong performance was driven by contributions from Masdar City commercial assets acquired on 1 January 2025, the ongoing ramp-up of Al Maryah Tower, and a strong rise in rental rates year to date across the portfolio. Excluding the one-off gain from disposals in H1 2024, Adj. EBITDA in the first half rose 30%. Demand for Grade A office space continues to fuel rental growth, with the portfolio at near full occupancy at 99%. The platform continues to expand its Grade A supply through execution of the develop-to-hold pipeline, including Yas Place, completed in Q2 and already 95% pre-leased ahead of its opening in Q3 2025. Residential Adj. EBITDA rose 28% to AED 132 million in Q2 2025 and increased 35% to AED 263 million in H1 2025. This was driven by a contribution from Masdar City residential assets, while rental rates across the portfolio increased up to 6% year to date amid 98% occupancy. During the period, Aldar generated AED 65 million from the sale of 47 strata units as part of its strategy to recycle capital into higher-yielding, long-term assets. When excluding these divestments H1 2025 Adj. EBITDA rose 41% YoY. Further growth in the platform will be driven by the develop-to-hold pipeline, including the Expo City joint venture in Dubai. Retail Adj. EBITDA in Q2 2025 increased 14% YoY to AED 138 million, driven by increased rental rates and high occupancy of 91% [1] as at the end of June. Adj. EBITDA in the H1 2025 period was up 12% YoY to AED 277 million, underscoring the portfolio's resilience amid ongoing re-development works. Yas Mall continues to lead with 98% occupancy, a 12% rise in tenant sales, and a 15% increase in footfall. Al Hamra Mall reached 98% occupancy following its recent redevelopment, while Al Jimi Mall is set to complete its upgrade in September 2025. The platform's growth momentum is set to continue, driven by the develop-to-hold pipeline and synergies in the new retail platform comprising Yas Mall and The Galleria Luxury Collection consolidated under the Mubadala joint venture, with completion of the transaction expected in Q3. Logistics Adj. EBITDA increased 16% YoY to AED 18 million in Q2 2025 and 14% YoY to AED 35 million in H1 2025, supported by strong occupancy of 97% [2]. Growth momentum is expected to accelerate following the acquisition of assets within ALMARKAZ Industrial Park, which adds 180 thousand sqm of Grade A logistics net leasable area and a custom-designed cold storage facility for Emirates Snack Foods in Dubai South, which is set for handover in Q4 2025. In the near term, further scale will be driven by the DP World partnership and develop-to-hold pipeline, while long-term growth will be anchored by the Al Falah logistics hub under the Mubadala joint venture. The Hospitality portfolio occupancy stood at 70% in H1, with revenue per available room (RevPAR) increasing 3% and average daily rates (ADR) rising 8% YoY. EBITDA in Q2 2024 increased 10% YoY to AED 78 million and declined 4% YoY in H1 2025 to AED 171 million, reflecting the impact of Aldar's AED 1.5 billion redevelopment programme, with several assets partially offline due to the portfolio's strategic repositioning. As part of this programme, Aldhafra Resort, a luxury desert retreat in Liwa, commenced operations in March 2025 under InterContinental Hotels Group's (IHG) Vignette Collection. Aldar Education Adj. EBITDA rose 6% YoY to AED 65 million in Q2 2025 and increased 9% YoY to AED 127 million in H1 2025, largely driven by strong organic growth and fee uplifts in most operated schools. Total enrolment has reached 37,000, with further scale expected from the upcoming opening of Yasmina American School in Khalifa City and a new campus for Muna British School in Saadiyat Lagoons in 2025-2026 academic year, alongside multiple growth levers spanning organic, inorganic, and greenfield developments. Aldar has also entered a partnership to bring King's College School Wimbledon to Fahid Island in the 2028-2029 academic year. Aldar Estates Adj. EBITDA increased 21% YoY to AED 102 million in Q2 2025 and was up 24% YoY to AED 192 million H1 2025, underpinned by synergies and organic growth across the expanded property management, facilities management, and integrated community services portfolio. Group & Corporate Updates Aldar strengthened its liquidity and capital structure through an additional AED 500 million bilateral revolving credit facility arranged in June 2025, taking the total capital raised in H1 2025 to AED 16.8 billion. Aldar's customer net promoter score (NPS) score increased by 27% during the second quarter of 2025, representing a 12-point increase. This increase can largely be attributed to an elevated process for home buyers, as well as customer experience enhancements within the Aldar Estates and Aldar Education businesses. During the first half of 2025, Aldar launched a new Property Listing Experience, enhanced its Broker Portal, and completed Darna integration into Live Aldar, uplifting experience across the entire digital ecosystem. In Q2, Aldar enabled an end-to-end digital sales feature through Live Aldar. Going live for the Fahid Island launch, the feature enabled a selection of overseas buyers to enjoy a fully digital experience with AED 188 million worth of transactions completed. This success will be accelerated in future launches and highlights the continued evolution of Aldar's digital customer journey. There has been a 36% increase of active, registered users across our main digital properties since January, showing strong adoption and engagement in comparison to the previous year. ESG Highlights As one of the UAE's leading real estate developers, Aldar has a duty to uphold best practice international ESG standards. ESG is a core pillar of the company's long-term growth strategy, with strong governance and responsible environmental and social impact integrated into its investment processes and business decisions. Highlights of Aldar's recent ESG activities include: Aldar has been upgraded to an 'A' from 'BBB' in the latest MSCI ESG Rating assessment. The rating upgrade reflects the company's continued progress in strengthening its environmental, social, and governance practices across its operations. Additionally, in June 2025, Aldar was added as a constituent to the FTSE4Good Index series. Aldar has reached its 2026 Emiratisation target ahead of schedule. More than 1,000 job opportunities have been created for UAE nationals since 2021, with Emiratis now representing 44.6% of the Group's employee base. Aldar achieved an Energy Use Intensity (EUI) improvement of 30% by design against the ASHRAE 2007 baseline. The company has also reduced embodied carbon in construction materials by 24% compared to business-as-usual levels and recycled 96% of construction and demolition waste. A partnership with Emirates Steel will allow the Aldar to access hydrogen-based steel rebar, for use in Abu Dhabi's first net zero carbon mosque, serving as a benchmark for future collaboration and use of hydrogen-produced steel. Fahid Island's health-focused masterplan attained Fitwel certification - the first ever for an island - and also achieved a LEED Platinum precertification for Cities and Communities. The wellness destination has been designed to promote eco-friendly mobility and connectivity. A partnership with Awqaf Abu Dhabi will develop an AED 70 million endowment residential project, with rental proceeds supporting healthcare for vulnerable chronic disease patients — reinforcing Aldar's commitment to sustainable, community-focused development. About Aldar Aldar is the leading real estate developer, manager, and investor in Abu Dhabi, with a growing presence across the United Arab Emirates, the Middle East and North Africa, and Europe. The company has two core business segments, Aldar Development and Aldar Investment. Aldar Development is a master developer of a 62 million sqm strategic landbank, creating integrated and thriving communities across Abu Dhabi, Dubai, and Ras Al Khaimah's most desirable destinations. The delivery of Aldar's developments is managed by Aldar Projects, which is also a key partner of the Abu Dhabi government in delivering housing and infrastructure projects across the UAE's capital. Internationally, Aldar Development wholly owns UK real estate developer London Square, as well as a majority stake in leading Egyptian real estate development company, SODIC. Aldar Investment houses a core asset management business comprising a portfolio of AED 47 billion worth of investment-grade and income-generating real estate assets diversified across retail, residential, commercial, logistics, hospitality, property and facilities management, and education segments. It manages four core platforms: Aldar Investment Properties, Aldar Hospitality, Aldar Education, and Aldar Estates. For more information on Aldar please visit
The Australian
4 days ago
- The Australian
Two injured, woman charged after alleged stabbing at InterContinental Sydney
Two employees at a luxe hotel in Sydney's CBD have been injured after they were allegedly attacked by a co-worker. Police were called to the InterContinental Sydney on Macquarie St at about 2.30am on Saturday after reports of an assault. A 30-year-old woman suffered stab wounds to her upper body, with police believing scissors were used in the alleged attack. Police continue to investigate the incident, though charges are not yet laid. Picture: NewsWire / Monique Harmer Sydney City Police Area Command's Chief Inspector Gary Coffey said police had so far been unable to determine an exact motive for the alleged stabbing. 'At this stage we're unable to confirm the exact motive for this crime other than all three persons involved in this incident are co-workers,' he told media on Saturday afternoon. 'I'm not exactly sure of the circumstances which led up to the attack but you would have to think there was some sort of a, perhaps a dispute this morning in the work environment. 'We have to pay tribute to the co-workers who intervened because the situation could have been a lot worse than it is.' The 30-year-old woman was treated at the scene by paramedics before being taken to St Vincent's Hospital in a stable condition. Police allege a 27-year-old woman was assaulted as she tried to intervene in the altercation, suffering minor injuries. The violent incident took place in one of Sydney's most exclusive hotels. Picture: Google A 31-year-old woman was arrested at the scene. She has since been charged with cause wounding/grievous bodily harm to the person with intent to murder and assault occasioning actual bodily harm. She was refused bail to appear at Parramatta Local Court on Sunday. Police say all three women are known to one another. InterContinental has been contacted for comment.
The Guardian
4 days ago
- The Guardian
Woman allegedly stabs colleague with scissors in attack at InterContinental Sydney hotel
A woman has been charged with attempted murder after she allegedly wielded scissors in a stabbing attack against her co-worker in a luxury hotel in central Sydney. Emergency services were called to the InterContinental Sydney on Macquarie Street at 2.20am on Saturday after reports of an assault. Police found a 30-year-old woman with stab wounds to her upper body, police said. She was treated by New South Wales Ambulance paramedics and taken to St Vincent's hospital where she was due to undergo surgery today, chief inspector Gary Coffey said. A 27-year-old woman was also injured after attempting to intervene and was also taken to St Vincent's Hospital. Sign up: AU Breaking News email A 31-year-old woman was arrested at the hotel and taken to Day Street police station where she was charged with causing grievous bodily harm with intent to murder and assault, police said in a statement. All three women worked together at the hotel, Coffey said. He said the attack weapon was a pair of scissors and that the incident unfolded in a back office area out of public view. 'At this stage, we're unable to confirm the exact motive for this crime, other than all three persons involved in this incident are co-workers,' he told reporters on Saturday morning. 'I'm not exactly sure of the circumstances which led up to the attack, but you would have to think that there was some sort of … dispute, this morning in the work environment.' When asked whether the attack was 'frenzied', Coffey said it was – and that it was 'lucky that things didn't escalate worse than that'. A spokesperson from InterContinental said no comment would be made. The 31-year-old was refused bail to appear before Parramatta local court on Sunday.
News.com.au
4 days ago
- News.com.au
Woman charged after alleged stabbing at InterContinental Sydney
Two employees at a luxe hotel in Sydney's CBD have allegedly been attacked by a co-worker. Police were called to the InterContinental Sydney on Macquarie St at about 2.30am on Saturday after reports of an assault. A 30-year-old woman had suffered stab wounds to her upper body. She was treated at the scene by paramedics before being taken to St Vincent's Hospital in a stable condition. Police allege a 27-year-old woman was assaulted as she tried to intervene in the altercation, suffering minor injuries. A 31-year-old woman was arrested at the scene. She has since been charged with cause wounding/grievous bodily harm to the person with intent to murder and assault occasioning actual bodily harm. She was refused bail to appear at Parramatta Local Court on Sunday. Police say all three women are known to one another. Sydney City Police Area Command's Chief Inspector Gary Coffey said police had so far been unable to determine an exact motive for the alleged stabbing, other than the fact all three women were co-workers. 'We have to pay tribute to the co-workers who intervened because the situation could have been a lot worse than it is,' he said, as per The Daily Telegraph.
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Travel + Leisure
4 days ago
- Travel + Leisure
A Travel Advisor's Guide to Australia's Great Barrier Reef—What to Know Before You Go
The Great Barrier Reef, which stretches over 1,400 miles along Australia's east coast, is bigger than the United Kingdom, Switzerland, Belgium, and the Netherlands combined. Given its size, there are many ways to experience it—including private villas, exclusive-use islands and superyachts. As a travel advisor who's visited this technicolor natural wonder multiple times, here are my top tips for planning a trip there. The Hamilton Beach Club Restaurant. Kara Rosenlund/Hamilton Island For a truly private reef encounter, consider exclusive-use islands like Pelorus Private Island, which has a full-service beach house that accommodates 11 guests. For a more remote and rustic location, Haggerstone Island is in the far north reaches of the reef. Other luxury resort options include The House at Lizard Island and The Residence at Qualia. There are adult-only properties if you're looking for a romantic experience. Enjoy sunset cocktails in your own plunge pool at Qualia on Hamilton Island, detach from the rest of the world at Bedarra Island Resort, or slip away to Wilson Island for intimate glamping. Families with younger children are welcomed at the new Sundays on Hamilton Island and the InterContinental Hayman Great Barrier Reef resort in the heart of the Whitsunday Islands. Further north, Orpheus Island also offers a collection of family-friendly amenities and activities. At the fabulous Silky Oaks Lodge, visitors can experience two UNESCO World Heritage-listed natural wonders side-by-side: Daintree Rainforest and the Great Barrier Reef. Incredible snorkeling and scuba diving can be found across the Great Barrier Reef. Lizard Island, for example, provides opportunities to snorkel with green turtles above giant clam gardens or dive at the famous Cod Hole. For serious underwater explorers, stay on a dive ship that goes to some of the most remote and biodiverse spots on the planet. For those who'd rather stay above water, the 74 tropical islands in the Whitsundays offer spectacular cruising grounds for bareboat charters and superyachts alike. If you're interested in visiting the Outer Reef, which is approximately 90 minutes by catamaran from the mainland, you might consider a scenic heli-transfer to beat the crowds and enjoy aerial views that help contextualize the Great Barrier Reef's vast scale. Free diving at Lizard Island in the Great Barrier Reef. Luxury Lodges of Australia Generally speaking, May through October is considered to have the most stable weather conditions and best underwater visibility. But there are certain natural phenomena that travelers may want to time their trip around. Swim with Minke Whales at the Ribbon Reefs in June-July. Take part in reef conservation by joining The Great Reef Census in September-January Game fish for black marlin on Lizard Island in September-November Witness coral spawning in the Reef's northern reaches just after a full-moon in October-December Watch turtle hatchlings make their way out to sea at Mon Repos, Heron Island, or Lady Elliot in February-April. Stuart Rigg is a member of Travel + Leisure's A-List and specializes in trips to Australia. You can create a tailor-made itinerary with Rigg at [email protected] .
