Latest news with #Wadeem
Al Etihad
05-08-2025
- Business
- Al Etihad
Abu Dhabi properties see robust capital appreciation in Q2 2025: ValuStrat report
5 Aug 2025 16:35 ABU DHABI (ALETIHAD)Abu Dhabi's residential property market continued its robust upward trajectory in the second quarter of 2025, with the capital values recording an 8.1% year-on-year (YoY) and 2.2% quarter-on-quarter (QoQ) rise across both villas and apartments. The report by ValuStrat highlights a market driven by limited supply, resilient demand, and increasing investor outpaced apartments in capital appreciation, with villa prices rising 10.1% YoY and 2.6% QoQ. Apartment prices rose by 5.9% annually—the strongest growth in three years—and 1.7% quarterly. The average citywide home value stood at Dh966 per sq ft, with villas averaging Dh795 per sq ft and apartments Dh1,037 per sq Island led villa capital gains with a 21.2% annual rise, while Hydra Village remained flat. For apartments, Saadiyat Island again topped the list with an 8% annual increase, followed by Al Reef (7.3%), Al Muneera Island (7%), and Al Reem Island (5.8%).Rental values also saw strong growth, with average rents rising 9.5% YoY and 1.5% QoQ. Apartments outperformed villas in rental growth, with apartment rents rising 12.5% YoY and 2% QoQ, while villa rents grew 7% annually but remained flat quarterly. Average citywide gross yields stood at 8.1%, with apartments yielding 8.5% and villas 7%.Citywide apartment asking rents averaged Dh117,000 per annum. Studios fetched Dh65,000, one-beds Dh91,000, two-beds Dh128,000, and three-beds Dh183,000. Among communities, Al Reef posted the highest quarterly increase at 5.4%. Villa rents averaged Dh249,000, with three-beds at Dh185,000, four-beds Dh249,000, and five-beds Dh313,000. Mohammad Bin Zayed City saw the strongest villa rent growth at 3.7% supply remains constrained, with only 7.1% of the projected 2025 pipeline delivered by mid-year. A total of 12,499 units are scheduled for completion this year, and 33,000 units are expected by 2030. Several new launches were announced, including Modon's Wadeem project on Hudayriyat Island, Bloom Holding's Granada Phase 2, and Seamont Autograph Residences on Al Reem activity rebounded sharply. Off-plan transactions surged 53.1% QoQ but were still 51.8% lower YoY. The average off-plan property price stood at Dh1,781 per sq ft, with a 38.1% annual increase. The average ticket size rose to Dh3 million, reflecting strong demand for high-end units. Off-plan deals made up nearly 30% of all residential home sales grew by 6.4% QoQ and 3% YoY. The average transaction price for ready homes was Dh1,180 per sq ft, and the average ticket size was Dh2.4 million. Total mortgage-backed transactions reached Dh8.3 billion, matching cash transactions, which also stood at Dh8.2 billion. Mortgages accounted for 50% of all ready property sales, supported by steady US interest office market remained buoyant, with average asking rents rising 6.1% QoQ and 28.3% YoY, driven by high occupancy rates in central business districts, which reached 90.5%. Masdar City Square added 50,000 sq m of new office space in Q2. In the hospitality sector, the emirate recorded an 83.7% occupancy rate in the first four months of the year. The average daily room rate reached Dh623, while revenue per available room (RevPAR) climbed to Dh521, up 26.8% YoY. The market welcomed 1.7 million guests during the same period. The planned Disney theme park resort on Yas Island is expected to reinforce Abu Dhabi's growing tourism appeal. Source: Aletihad - Abu Dhabi
Zawya
31-07-2025
- Business
- Zawya
Egypt: Modon Holding posts $572mln net profit in H1 2025
Egypt - Modon Holding PSC announced robust results for the first half of 2025, reporting a net profit of AED 2.1bn—an increase of more than fourfold compared to AED 502m in H1 2024 (excluding the AED 9bn one-off gain from last year's merger and other non-core adjustments). The Group's strong performance was underpinned by solid results across its core segments, recent acquisitions, and ongoing strategic investments. Group revenue tripled year-on-year to AED 6.5bn, supported by record real estate sales and the recognition of a deepening development backlog from both new launches and existing inventory. Recurring revenues from the Asset Management, Hospitality, and Events, Catering & Tourism segments also recorded notable improvement, boosted by near-full occupancy rates, operational expansions, and integration synergies from strategic acquisitions. Group EBITDA grew more than fourfold to AED 2.9bn, with margins expanding to 44%, reflecting a stronger portfolio mix and operational efficiencies. Real estate sales reached AED 10bn in H1 2025, driven by the rapid sell-out of two flagship masterplan launches, which sold out within a day—highlighting continued strong market demand. The company's revenue backlog rose to AED 33bn, spanning all business lines. Building on this momentum, Modon secured an AED 5.5bn sell-out of residential plots at its Wadeem community in July, pushing cumulative sales beyond the full-year 2024 total and ensuring a strong start to the second half of 2025. This success further strengthens Modon's development pipeline and reinforces its long-term value creation strategy. Internationally, Modon advanced its strategic expansion with key investments in the United Kingdom and North America, expanding its operational footprint to 13 countries. Domestically, the company launched Gridora, a new infrastructure platform created in partnership with ADQ and IHC. In May, Gridora signed an MoU with Abu Dhabi Projects and Infrastructure Centre (ADPIC) to support delivery of ADPIC's AED 35bn transport infrastructure programme in Abu Dhabi. The Group's performance reflects Modon's balanced approach: combining record-breaking real estate sales and growing recurring income streams with strategic investments to drive sustained growth and create long-term shareholder value.
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 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.
Zawya
07-07-2025
- Business
- Zawya
Abu Dhabi: Modon announces sellout of Hudayriyat Island residential plots
Leading Abu Dhabi developer Modon has announced the complete sell-out of its first residential plots, Wadeem, on Hudayriyat Island within 72 hours of launch, generating sales of AED5.5 billion ($1.5 billion). The sales place Wadeem as 2025's highest-valued real estate release in Abu Dhabi to date, said a statement from Modon. Set opposite Abu Dhabi's prestigious Al Bateen area, Wadeem is the first new offering of land so close to the city's most exclusive areas in more than 15 years, as well as the first residential plots release on Hudayriyat Island. The rapid sell-out reflects strong demand and rising confidence in the emirate's real estate projects, it stated. Plots in Wadeem feature ample room for a four- to six-bedroom villa and are generous enough to accommodate a swimming pool alongside outdoor dining and entertainment spaces. Homes in the community - just a stone's throw from Hudayriyat Island's idyllic coastline - will each offer owners the chance to enjoy stunning views of Abu Dhabi's impressive skyline, as well as easy access to the island's many pristine beaches and the azure waters of the Gulf. On the solid response, Group CEO Bill O'Regan said: "As demand for high-quality real estate in prime locations grows, Modon continues to strengthen its position as a trusted name in shaping vibrant, people-centric destinations." "The strong interest in Wadeem is testament to individual and investor confidence in our capabilities in delivering exceptional residential communities," he stated. Offering discerning buyers the opportunity to design and build their own dream homes in one of Abu Dhabi's most desirable emerging locations, Wadeem seamlessly complements Modon's larger Hudayriyat Island masterplan as a unique lifestyle proposition. At the heart of the neighbourhood will be a community centre with a selection of shopping outlets, a private school, a mosque and a central park, connected by walking and cycling paths meandering through lush greenery, said the developer. Supporting healthy lifestyles and wellbeing, a selection of local outdoor exercise areas will include a recreational hub boasting swimming pools, a jogging track, and sports courts, as well as a yoga and meditation zone, it added. Modon Real Estate CEO Ibrahim Al Maghribi said: "The response to Wadeem and the value of sales generated are an outstanding achievement, representing a significant milestone in realising Modon's vision for Hudayriyat Island." "The launch reinforces Hudayriyat's position among Abu Dhabi's most desirable residential destinations, offering unparalleled quality, lifestyle, and diversity of choice for future residents," he added.- TradeArabia News Service
