Latest news with #ModonHolding
Gulf Business
29-07-2025
- Business
- Gulf Business
Modon Holding reports Dhs2.1bn as H1 net profit, revenue triples year-on-year
Image: Modon Holding Abu Dhabi-based Modon Holding reported a net profit of Dhs2.1bn for H1 2025, a 4.2-fold increase from a year earlier after excluding one-off items in H1 2024. The strong performance was driven by record real estate sales, increased recurring income streams, and continued strategic investments. Group revenue tripled year-on-year to Dhs6.5bn, while EBITDA rose fourfold to Dhs2.9bn. The company cited robust contributions from its four key business segments – real estate, asset and investment management, events, catering and tourism and hospitality. Real estate driving Modon's growth in H1 Real estate remained the group's primary growth engine, generating Dhs3.65bn in revenue, up four times from the prior year. Sales reached Dhs10bn, including full sell-outs of the Muheira and Nawayef Village projects. The company's recurring income portfolio also expanded, with near-full occupancy across its leasing portfolio and growing contributions from the hospitality and events businesses. Recurring income now contributes 44 per cent of group revenues. The year's first half also saw significant strategic activity. Modon acquired 100 per cent of Arena Events Group, expanding its international footprint in the events and infrastructure sector. The group also bought a 50 per cent stake in London's 2 Finsbury Avenue commercial development through a joint venture with British Land and GIC. A new infrastructure platform, Gridora, was launched in partnership with ADQ and IHC to lead strategic projects in the UAE and abroad. In May, Gridora signed an MoU with the Abu Dhabi Projects and Infrastructure Centre (ADPIC) to support the delivery of Dhs35bn in transport infrastructure across Abu Dhabi. 'The results reflect the strength of our diversified operating model and our ability to scale across high-impact sectors,' said group CEO Bill O'Regan. 'With record sales, a robust pipeline, and expanding recurring revenues, we're well-positioned for sustainable growth into the second half.' Chairman Jassem Mohammed Bu Ataba Al Zaabi added that the performance further reinforced Abu Dhabi's position as a global hub for investment and urban development. Modon assets rise Total assets rose to Dhs 85bn, up 12 per cent since end-2024, while net debt remained low at Dhs1.6bn, or 0.03x equity. Looking ahead, Modon plans to advance the launch of its 170.8m sqm Ras El Hekma development in Egypt and expand across priority markets including the UK, North America, and The group also intends to build on recent success with further launches, including the Wadeem community, which generated Dhs5.5bn in sales within three days of launch in July. Modon's hospitality arm, with 2,097 keys across nine wholly owned hotels, contributed Dhs359m in H1 revenue. The events, catering and tourism division brought in Dhs2.2bn, boosted by the integration of Arena, Business Design Centre, and Royal Catering. With a growing asset base, strong cash flow, and a diversified portfolio, Modon said it remains focused on long-term value creation, operational excellence, and supporting Abu Dhabi's broader economic ambitions.
Al Bawaba
29-07-2025
- Business
- Al Bawaba
Modon Holding delivers outstanding AED 2.1 billion H1 2025 Net Profit, with continued momentum across core segments supported by record AED 10 billion real estate sales and strategic investments
Modon Holding PSC ('Modon') delivered exceptional performance in the first half of 2025, with revenue and profitability significantly increasing year-on-year, excluding last year's one-off items. The results were driven by solid contributions across all four core segments, underpinned by the successful integration of recent acquisitions and execution of strategic estate revenue led Modon's growth, which was further strengthened by stronger recurring revenue from improved operations across the Asset Management and Hospitality assets, as well as outperformance in the Events, Catering & Tourism segment. The Group recorded landmark real estate sales of AED 10 positive momentum as Modon enters H2, the AED 5.5 billion sell-out of the Wadeem community's residential plots in July has pushed cumulative sales beyond the 2024 total, ensuring a strong start for the second half while further reinforcing Modon's growing development pipeline and building a strong foundation for long-term value creation.H1 2025 Group Highlights• Group revenue tripled year-on-year to AED 6.5 billion, driven by the recognition of a deepening development backlog which reflects record real estate sales from new launches and existing inventory, improved performance across the recurring revenue portfolio, and contributions from recent acquisitions.• Group EBITDA reached AED 2.9 billion, rising 4.0x year-on-year, excluding last year's one-off items, and outpacing revenue growth, with margins expanding to 44%, supported by an enhanced portfolio mix, efficiency gains and integration synergies.• Group net profit grew 4.2x year-on-year to AED 2.1 billion, compared to AED 502 million in H1 2024, excluding the one-off AED 9.0 billion bargain gain from the 2024 merger and other non-core provisions and unrealised fair value changes. The uplift was underpinned by a strong operating performance across all four core business segments.• Group revenue backlog amounted to AED 33 billion across all business segments.• Real estate sales were AED 10 billion, with two launches across flagship Modon masterplans sold out within a day, reflecting strong market demand.• Recurring income streams strengthened across Asset Management, Hospitality, and Events, Catering & Tourism segments, driven by near-full occupancy across the leasing portfolio, operational expansion, strategic acquisitions, and improved rates and synergies.• International expansion continued through strategic investments in the United Kingdom and North America, increasing Modon's operational footprint to 13 countries.• Operating under Modon, Gridora, a new infrastructure platform was jointly formed with ADQ and IHC and will lead strategic infrastructure projects in the UAE and abroad. In May, Gridora signed an MoU with Abu Dhabi Projects and Infrastructure Centre (ADPIC) to support delivery of ADPIC's AED 35 billion mandated transport infrastructure programme in Abu Performance by SegmentModon recorded significant growth across its four key business segments:• Real Estate: The Group's primary revenue driver in H1 2025 delivered AED 3.65 billion in top-line, 4.0x prior year, fuelled by sustained sales momentum and backlog recognition. Flagship UAE developments on Reem and Hudayriyat Islands achieved record sales of AED 10 billion, with full sell-outs at the newly launched Muheira and Nawayef Village projects. In parallel, a record AED 10.4 billion in construction and consulting contracts were awarded during the period, a 17.3x increase year-on-year, accelerating the transition from design-stage assets to active, on-the-ground execution. Internationally, Modon has moved forward on its 170.8 million sqm Ras El Hekma project in Egypt, while making strategic progress at Spain's La Zagaleta estate through land sales, further diversifying and strengthening its global real estate platform.• Asset & Investment Management: The segment strengthened income stability across a diversified portfolio of residential, retail, commercial, staff accommodation, and leisure assets. Consistently high occupancy, rising footfall and rental uplifts supported recurring income growth, with revenue reached AED 320 million in H1 2025, up 23% year-on-year. Investment portfolio repositioning included the divestment of legacy financial assets, as well as the formation of new joint ventures including 2 Finsbury Avenue in London with British Land and GIC and the Gridora infrastructure platform in partnership with IHC and ADQ.• Events, Catering & Tourism: Robust performance was driven by operational expansion and strategic acquisitions including Arena Events Group, Business Design Centre (BDC), and Royal Catering. Revenue amounted to AED 2.2 billion, 2.7x prior year, supported by scale benefits from recent acquisitions and improved delivery across clusters. The Venues cluster hosted 97 events, attracting 3 million visitors across the four venues (ADNEC Abu Dhabi, Al Ain, ExCel London, BDC London). Key events included International Defence Exhibition and Conference (IDEX 2025), Make it in the Emirates (MIITE) Forum, and the Abu Dhabi International Book Fair at ADNEC, alongside major international events such as KubeCon, Salesforce World Tour and the Food, Drink and Hospitality Week Exhibition at UK venues. The Catering cluster served 23.7 million meals, with growth driven by strong aviation and multi-channel demand.• Hospitality: As of H1 2025, the Hospitality segment included nine wholly owned hotels totalling 2,097 keys, complemented by three operated hotels with 147 keys and a broader joint venture portfolio of 15 hotels with 4,894 keys. Improvements in average daily rates across the UAE and Egypt supported steady operating performance. Revenue from owned and operated hotels reached AED 359 million, driven by stronger pricing metrics and the addition of Four Seasons Rabat, Morocco in H2 Investments & PartnershipsH1 2025 marked continued execution of Modon's global expansion strategy through high-impact investments and partnerships:• 2 Finsbury Avenue: Modon acquired a 50% stake in a 750,000 square foot commercial development in London's Broadgate district, through a joint venture with British Land and GIC. The project enhances Modon's exposure to institutional-grade real estate in a leading global financial hub.• Arena Events Group: Modon acquired 100% of Arena, a global provider of event infrastructure and modular venues operating in nine countries. The transaction expands Modon's footprint into North America and other markets, strengthening its capabilities in the international events and exhibitions space.• Gridora: Modon launched a dedicated infrastructure platform in partnership with ADQ and IHC, also serving as operational lead. Gridora will support the development of strategic infrastructure projects across the UAE and targeted regional markets. In May 2025, Gridora announced its first major engagement through a partnership with the Abu Dhabi Projects and Infrastructure Centre (ADPIC) to support delivery of ADPIC's mandated AED 35 billion in transport infrastructure projects across Abu Dhabi.• Elsewedy LOI: In Egypt, Modon signed a letter of intent with Elsewedy Industrial Development to build and operate a new industrial zone servicing the 170.8 million square metre Ras El Hekma & Future GrowthModon enters the second half of 2025 with strong momentum and a clear focus on disciplined execution. Its diversified business model continues to provide resilience, while recent acquisitions and integrations have expanded the Group's operational scale and strategic in H2, the launch of Wadeem – Modon's first residential land plot offering on Hudayriyat Island – has generated AED 5.5 billion in sales within 72 hours, with more launches still to be announced. The success of Wadeem reinforces both the strength of the development pipeline and sustained demand for flagship communities, while demonstrating Modon's capacity for shaping distinctive offerings that meet market demands across unrivalled a robust revenue backlog, rising recurring income and continued asset rotation, Modon is well-positioned to enhance capital efficiency and sustain long-term growth. Key priorities for the second half include advancing the Ras El Hekma launch in Egypt, sustaining performance across Abu Dhabi's core developments, further activation of the recuring income portfolio, and unlocking synergies across the core segments. The Group remains focused on timely project delivery, deepening its income base, driving operational excellence, and advancing ESG and digital transformation – supporting its role in delivering Abu Dhabi's national and global development agenda.
Zawya
29-07-2025
- Business
- Zawya
Modon Holding posts $572mln net profit in H1 2025
ABU DHABI: Modon Holding has reported exceptional results for the first half of 2025, with net profit rising 4.2 times year-on-year to AED2.1 billion, compared to AED502 million in H1 2024. The strong performance was driven by solid results across the Group's four core business segments, the successful integration of recent acquisitions, and the efficient execution of strategic investments. Modon's growth was led by its real estate segment, alongside stronger recurring revenues supported by operational improvements in asset management and hospitality, as well as exceptional performance in events, catering, and tourism. The Group has maintained positive momentum into the second half of the year. In July, the full sell-out of residential plots in the Wadeem project generated AED5.5 billion in sales, pushing H1 2025 sales beyond the total achieved in all of 2024. Modon recorded AED6.5 billion in revenue for the first half of 2025—tripling year-on-year—driven by robust revenue recognition from development projects. This growth was fuelled by record real estate sales from new launches and existing inventory, rising recurring income, and the positive impact of recent acquisitions. Group EBITDA increased to AED2.9 billion, representing 4.0x growth year-on-year (excluding non-recurring items), outpacing revenue growth. The Group's revenue backlog reached AED33 billion across all business segments, while real estate sales amounted to AED10 billion. All units launched in two key development projects were sold out in a single day, underscoring strong market demand. Modon continued to expand its global footprint through strategic investments in the United Kingdom and North America, extending its operational presence to 13 countries.
Zawya
29-07-2025
- Business
- Zawya
Modon Holding posts over $571mln net profit in H1 2025
ABU DHABI - Modon Holding has reported exceptional results for the first half of 2025, with net profit rising 4.2 times year-on-year to AED2.1 billion, compared to AED502 million in H1 2024. The strong performance was driven by solid results across the Group's four core business segments, the successful integration of recent acquisitions, and the efficient execution of strategic investments. Modon's growth was led by its real estate segment, alongside stronger recurring revenues supported by operational improvements in asset management and hospitality, as well as exceptional performance in events, catering, and tourism. The Group has maintained positive momentum into the second half of the year. In July, the full sell-out of residential plots in the Wadeem project generated AED5.5 billion in sales, pushing H1 2025 sales beyond the total achieved in all of 2024. Modon recorded AED6.5 billion in revenue for the first half of 2025—tripling year-on-year—driven by robust revenue recognition from development projects. This growth was fuelled by record real estate sales from new launches and existing inventory, rising recurring income, and the positive impact of recent acquisitions. Group EBITDA increased to AED2.9 billion, representing 4.0x growth year-on-year (excluding non-recurring items), outpacing revenue growth. The Group's revenue backlog reached AED33 billion across all business segments, while real estate sales amounted to AED10 billion. All units launched in two key development projects were sold out in a single day, underscoring strong market demand. Modon continued to expand its global footprint through strategic investments in the United Kingdom and North America, extending its operational presence to 13 countries.
Al Etihad
28-07-2025
- Business
- Al Etihad
Modon Holding posts Dh2.1 billion profit in H1
28 July 2025 22:42 ABU DHABI (ALETIHAD)Modon Holding delivered a net profit of Dh2.1 billion for the first half of 2025, marking a 4.2-fold increase compared to the same period last year (excluding one-off items), on the back of strong real estate sales, improved recurring income, and strategic Abu Dhabi-headquartered holding company also saw its revenue triple year-on-year to Dh6.5 billion, supported by high demand for new property launches and a growing portfolio of income-generating assets across hospitality, events, and asset management segments. Group EBITDA rose 4-fold to Dh2.9 billion, with margins expanding to 44%, driven by synergies, efficiency gains, and a more balanced portfolio mix.A key highlight was the company's record Dh10 billion in real estate sales, fuelled by strong uptake of flagship developments on Reem and Hudayriyat Islands. The firm's total revenue backlog reached Dh33 billion, providing strong forward visibility. Total assets climbed to Dh85 billion, up 12% from end-2024, while equity rose to Dh53 Jassem Mohammed Bu Ataba Al Zaabi said the first-half results marked 'another pivotal chapter' in Modon's transformation. 'Exceptional commercial performance and strategic delivery continue to accelerate our transformation, enabling us to scale across high-impact sectors. We remain focused on long-term value creation while reinforcing Abu Dhabi's position as a global hub for investment, innovation and sustainable urban development.'Group Managing Director Abdullah Al Sahi highlighted the disciplined execution of Modon's strategy. 'Continued expansion into priority markets such as the UK and North America, alongside targeted growth across Egypt and Spain, reflects our commitment to building a future-ready portfolio with global reach.'Group CEO Bill O'Regan attributed the strong results to Modon's diversified model and focused execution. 'Revenue and EBITDA grew significantly, driven by high-demand real estate launches, stable recurring income and disciplined capital deployment. Record sales of Dh10 billion and a robust development pipeline reinforce forward visibility.' Modon also advanced its international footprint with investments in the UK and Egypt, including the launch of Gridora, a new infrastructure platform, and the acquisition of global events firm Arena. With Dh5.5 billion in sales already recorded in July through its Wadeem residential plot launch, Modon enters the second half with strong momentum.
