Latest news with #ManaratLivingIII
Khaleej Times
29-07-2025
- Business
- Khaleej Times
Aldar posts record Dh4.1b H1 profit as sales, investments surge
Aldar, one of the UAE's top real estate developers, on Tuesday reported a 24 per cent year-on-year increase in net profit after tax to Dh4.1 billion for the first-half. Net profit before tax surged 35 per cent to Dh4.7 billion, driven by strong demand across its residential and commercial offerings and continued expansion of its investment portfolio. The developer recorded group development sales of Dh18.3 billion in the first six months of 2025, marking a 31 per cent jump from the same period last year. This sales momentum was fuelled by robust demand for existing inventory and five high-profile project launches in the UAE, including two developments on Fahid Island, Waldorf Astoria Residences Yas, Manarat Living III, and The Wilds in Dubai. The company's development backlog climbed to a record Dh62.3 billion, with Dh53.4 billion concentrated in the UAE, offering solid revenue visibility over the next two to three years. The group's earnings per share rose 27 per cent to Dh0.45, underscoring cross-platform growth. Chairman Mohamed Khalifa Al Mubarak credited the results to the strength of Aldar's diversified business model, and the UAE's sound economic fundamentals. 'The country's growing population and global appeal are driving sustained demand for quality real estate,' he said. With Dh12.2 billion in free cash and Dh17.5 billion in undrawn bank facilities, Aldar said it remains well-positioned for sustained growth. Group CEO Talal Al Dhiyebi said, 'Our momentum in the first half reflects disciplined capital deployment and a clear focus on long-term value creation across all platforms.' Aldar's expanding investment business also played a significant role. Adjusted Ebitda for Aldar Investment increased 18 per cent year-on-year to Dh1.6 billion, supported by high occupancy and rising rents. The group's assets under management reached Dh47 billion by the end of June, bolstered by the strategic acquisition of commercial and residential assets in Masdar City and warehousing facilities at Almarkaz Industrial Park. A notable transaction in July — a Dh400 million record-setting mansion sale at Faya Al Saadiyat — demonstrated Abu Dhabi's growing luxury real estate appeal, particularly among ultra-high-net-worth individuals. International investor interest continued to climb, with overseas and expatriate buyers accounting for Dh14.7 billion, or 84 per cent, of Aldar's UAE sales in H1. Additionally, Aldar sold a residential tower in Mamsha Gardens to Hong Kong-based Gaw Capital for Dh586 million, further underscoring global institutional appetite for UAE real estate assets. In terms of development revenue, Aldar reported Dh11.3 billion for H1, up 50 per cent year-on-year, with Ebitda rising 47 per cent to Dh3.3 billion. Cash collections stood at Dh7.9 billion, reflecting accelerated project delivery. Project management services backlog hit Dh86 billion, including Dh56.9 billion worth of developments currently under construction, mostly for the Abu Dhabi government and international arms also contributed meaningfully. Egypt-based SODIC posted Dh291 million in revenue and Dh536 million in sales, with a backlog of Dh6.6 billion. UK-based London Square generated Dh710 million in revenue and Dh362 million in sales in H1, with a backlog of Dh2.3 billion. In the investment portfolio, commercial assets delivered Dh420 million in EBITDA, up 11 per cent, supported by near full occupancy and rising rents. Residential assets added Dh263 million in EBITDA, marking a 35 per cent increase, aided by strong rental growth and 98 per cent occupancy. Retail EBITDA rose 12 per cent to Dh277 million, with Yas Mall maintaining 98 per cent occupancy and a 15 per cent rise in footfall. The logistics platform also grew, with a 14 per cent rise in H1 EBITDA to Dh35 million, backed by 97 per cent occupancy and the acquisition of prime warehousing assets in Almarkaz. A cold storage facility in Dubai South and the Al Falah logistics hub are expected to support future growth. Aldar's hospitality segment saw 70 per cent occupancy in H1, with RevPAR rising 3 per cent and ADR up 8 per cent. However, H1 EBITDA declined 4 per cent to Dh171 million due to asset repositioning under its Dh1.5 billion redevelopment plan. The Aldhafra Resort opened in March as part of this portfolio upgrade. In education, EBITDA increased 9 per cent to Dh127 million, supported by rising enrolments and fee growth. Total student numbers reached 37,000, with further growth expected from new campuses, including a super-premium King's College School Wimbledon branch planned for Fahid Estates recorded 24 per cent growth in H1 EBITDA to Dh192 million, with expansion in property and facilities management services contributing to the performance.
Arabian Business
31-01-2025
- Business
- Arabian Business
Abu Dhabi real estate: Aldar's Manarat Living III sells out in 24 hours, generates $255mn
Aldar announced that Manarat Living III, the final phase of its urban collection on Saadiyat Island, sold out in 24 hours, generating AED 940 million in sales. The demand reflects the interest in Saadiyat Island as a residential location. The project features 400 homes with outdoor and community spaces. UAE nationals accounted for 28 per cent of sales, while expatriate residents and overseas buyers made up 72 per cent. The top four international buyers by sales volume were from the UAE, Jordan, China, and the UK. Aldar reported that 65 per cent of buyers were under the age of 45. First-time buyers of an Aldar property represented 57 per cent of sales. Manarat Living III is positioned as the most elevated proposition within the Manarat Living collection, offering enhanced amenities and premium features.
Zawya
31-01-2025
- Business
- Zawya
Aldar sells out Manarat Living III on Saadiyat Island generating AED 940mln
400 homes sold with 57% of buyers purchasing an Aldar home for the first time Expatriate residents and overseas buyers account for 72% of sales UAE, Jordan, China, and UK buyers make up the top four nationalities by sales volume Abu Dhabi, UAE: Aldar announced today that Manarat Living III, the final edition of its design-led urban collection on Saadiyat Island, sold out in just 24 hours, generating AED 940 million in sales. The speed at which the community sold out reflects Saadiyat Island's reputation as Abu Dhabi's most sought-after neighbourhood with a collection of unique residential concepts that are attracting significant local and international interest. UAE nationals accounted for 28% of sales, while expatriate residents and overseas buyers accounted for 72%, highlighting the universal demand for homes on Saadiyat Island. UAE, Jordan, China, and UK nationals make up the top four international buyers by sales volume. 65% of all buyers are under the age of 45, reflecting the growing popularity of contemporary residential concepts among young homebuyers. First-time buyers of an Aldar property accounted for 57% of sales, highlighting the growing popularity of the Aldar brand amongst both investors and homeowners. The boutique residential community features 400 urban homes and is the most elevated proposition within the Manarat Living collection. It offers enhanced amenities and premium features, including thoughtfully designed outdoor and community spaces. 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 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 more than AED 37 billion worth of investment grade and income-generating real estate assets diversified across retail, residential, commercial, logistics, and hospitality segments. It manages four core platforms: Aldar Investment Properties, Aldar Hospitality, Aldar Education, and Aldar Estates.
