Aldar Properties reported strong financial results for the first half of 2026, with net profit after tax rising 18 percent year on year to Dh4.9 billion. The Abu Dhabi-based developer said the growth was driven by revenue recognition from its large development backlog and stable earnings from its investment property portfolio.
Revenue for the six months ended June 30 increased 8 percent to Dh16.8 billion. Gross profit rose 17 percent to Dh6.2 billion, while EBITDA climbed 19 percent to Dh6.3 billion. Earnings per share also increased 17 percent to Dh0.53, reflecting steady operational performance across the business.
The company delivered another strong quarter during the period. Second-quarter net profit rose 17 percent to Dh2.6 billion. Revenue for the quarter reached Dh8.1 billion, up 5 percent from the same period a year earlier. EBITDA for the quarter increased 18 percent to Dh3.3 billion.
Aldar said its development backlog reached Dh71.6 billion at the end of June. The UAE accounted for Dh59.9 billion of that total. The backlog provides revenue visibility for the next two to three years and remains a key driver of future earnings growth.
The company’s development business continued to generate strong revenue as projects moved through construction and delivery stages. Revenue from Aldar Development, which includes operations in the UAE, Egypt, and the United Kingdom, rose 10 percent to Dh12.4 billion during the first half. EBITDA from the division increased 21 percent to Dh4.0 billion.
Although earnings remained strong, development sales declined compared with last year. Group development sales fell 34 percent year on year to Dh12.1 billion. Sales in the UAE dropped 46 percent to Dh9.4 billion. Aldar said the decline reflected a measured approach to launching new projects in response to current market conditions.
The slowdown continued in the second quarter. Group sales fell 43 percent to Dh5.4 billion, while UAE sales declined 61 percent to Dh3.5 billion. Despite lower sales volumes, demand from international buyers and expatriate residents remained strong throughout the period.
Sales to overseas and expatriate customers reached Dh7.6 billion during the first half. These buyers accounted for 80 percent of total UAE sales, showing continued confidence in Abu Dhabi’s real estate market and long-term growth prospects.
Company leaders said Abu Dhabi’s ongoing investment in infrastructure, economic development, and quality of life continues to attract people and capital to the emirate. They noted that the company remains well positioned to benefit from that growth while contributing to the development of the local economy.
Aldar also reported strong growth from its international operations. Egypt-based SODIC recorded first-half sales of Dh1.4 billion, representing a 171 percent increase from the previous year. In the United Kingdom, London Square achieved sales of Dh1.2 billion, marking a 236 percent increase year on year.
The strong performance of these businesses helped support the company’s overall results and demonstrated growing momentum outside the UAE market.
Aldar Investment, which manages the group’s income-generating assets, also delivered positive results. Revenue increased 12 percent to Dh4.2 billion during the first half, while adjusted EBITDA rose 18 percent to Dh1.8 billion. Assets under management reached Dh56 billion by the end of June.
The investment portfolio maintained high occupancy levels across all major asset classes. Commercial properties recorded occupancy of 99 percent. Residential assets achieved occupancy of 96 percent, while industrial and logistics properties reached 97 percent occupancy. These levels helped provide stable and recurring income for the company.
The company’s develop-to-hold pipeline stood at Dh20 billion at the end of the reporting period. This pipeline is expected to contribute to future rental income and support long-term portfolio growth.
Aldar also strengthened its financial position during the first half. The company secured a Dh5 billion sustainability-linked revolving credit facility. Total liquidity reached Dh37.1 billion, including Dh16.8 billion in cash and Dh20.3 billion in committed undrawn banking facilities.
With a substantial development backlog, expanding international operations, strong occupancy levels, and a solid balance sheet, Aldar entered the second half of 2026 with a strong financial foundation and clear visibility for future revenue growth.
