Aldar Q1 Profit Rises to $626m as Sales Reach $1.82bn

ABU DHABI, UAE – Aldar Group recorded strong financial and operational results in the first quarter of 2026, with net profit after tax increasing 20 percent year-on-year to AED2.3 billion ($626 million).

The performance was driven by the realisation of development revenue backlog and resilient earnings from Aldar’s diversified investment properties portfolio. Earnings per share for Q1 2026 increased 25 percent year-on-year to AED0.25.

The Group achieved sales of AED6.7 billion ($1.82 billion) during the quarter, with UAE sales contributing AED5.9 billion ($1.61 billion). Two projects were launched in the UAE in early Q1 2026: The Wilds Residences in Dubai and Baccarat Residences Saadiyat in Abu Dhabi.

Demand from international buyers remained strong, with UAE sales to overseas and expat resident customers reaching AED5.3 billion ($1.44 billion) in Q1, representing 88 percent of total UAE sales.

In April, Aldar launched Yas Park Place, where sales reached more than AED800 million ($217.8 million), with 80 percent of released units sold in the first week.

Development revenue backlog rose to AED72.1 billion ($19.63 billion), including AED62.2 billion ($16.94 billion) in the UAE, providing visibility on revenue recognition over the next three years.

Aldar also replenished its UAE landbank during the quarter, with a gross development value of AED61 billion ($16.61 billion). This included strategic land plots in key Abu Dhabi destinations and the expansion of the Dubai Holding joint venture.

Aldar Investment’s adjusted EBITDA rose 18 percent year-on-year to AED905 million ($246.4 million), supported by high occupancy and contributions from strategic acquisitions. Assets under management increased to AED52 billion ($14.16 billion).

The income-generating property portfolio remained resilient, supported by long-term leases and growth across the commercial, retail, industrial and logistics segments. The acquisitions of The Link at Masdar City and logistics assets at KEZAD further strengthened the platform.

Aldar’s develop-to-hold pipeline expanded by AED2.8 billion ($762 million) to AED20.1 billion ($5.47 billion) through a partnership with the Department of Municipalities and Transport to deliver 9,000 value housing units for rent in Abu Dhabi.

The Group’s total available liquidity stood at AED33.2 billion ($9.04 billion) at the end of March, comprising AED13.9 billion ($3.79 billion) in free and unrestricted cash and AED19.4 billion ($5.28 billion) in committed undrawn bank facilities.

Aldar closed a $1 billion (AED3.7 billion) public hybrid issuance in January, followed by a $1 billion (AED3.7 billion) hybrid issuance to Apollo in February. An AED5 billion ($1.36 billion) sustainability-linked committed revolving credit facility was completed in April, attracting strong demand from regional and international banks.

In April, Aldar distributed a dividend of AED0.205 per share for 2025, representing a 10.8 percent year-on-year increase and a total payout of AED1.61 billion ($438.4 million).

H. E. Mohamed Khalifa Al Mubarak, Chairman of Aldar, commented, “Abu Dhabi continues to demonstrate strong economic fundamentals, underpinned by policy clarity, long-term vision, and sustained investment across key sectors. The emirate’s resilience, coupled with its enduring global appeal as a destination to live, work, and invest, provides a solid foundation for continued growth.”

He added that Aldar’s Q1 performance demonstrates the strength of its business model, which has evolved over time to ensure it is well-positioned to navigate counter-cyclical pressures as well as unforeseen external events.

"The Group delivered robust earnings growth while benefiting from the defensive characteristics of a diversified platform. The record development backlog of AED72.1 billion, and a high-quality and growing base of recurring income assets now valued at AED52 billion, provide strong clarity for future income generation," he stated.

Talal Al Dhiyebi, Group Chief Executive Officer of Aldar, stated, “The UAE economy continues to demonstrate remarkable resilience, supported by decisive leadership and a coordinated policy response, including measures to reinforce market stability and confidence."

He added that during Q1, revenue grew 12 percent to AED8.7 billion ($2.37 billion) and net profit rose 20 percent year-on-year to AED2.3 billion ($626 million), reflecting disciplined execution and the resilience of our diversified platform.

Al Dhiyebi stated, “Within Aldar Development, we continued to convert our record backlog into revenue. Underlying demand fundamentals remain robust, reaffirmed by the very successful recent launch at Yas Park Place. This supports our view that demand remains resilient for the right product, underpinned by a structurally undersupplied market in Abu Dhabi and strong long-term economic fundamentals."

Aldar Investment continues to demonstrate its value as a defensive earnings platform, supported by high occupancy and long-term lease structures. Contributions from recent acquisitions, coupled with firm rental rates, have driven growth, while further expansion will be supported by a develop-to-hold pipeline that has grown to AED20.1 billion ($5.47 billion).