Aldar Reports H1 2026 Net Profit of $1.33 Billion, Up 18%

ABU DHABI, UAE – Aldar reported strong financial and operational results for the first half of 2026, with net profit after tax rising 18% year-on-year to $1.33 billion (AED4.9 billion), supported by continued momentum in its development business, resilient income from its investment property portfolio and growing contributions from its regional and international operations, according to WAM.

Earnings per share increased 17% year-on-year to AED0.53 during the first six months of the year, reflecting the group's continued revenue growth and operational performance.

During July, Aldar launched Marsa Al Saadiyat, activating the final phase of Saadiyat Island's masterplan with a gross development value (GDV) of $27.23 billion (AED100 billion). Of this, Aldar will develop $16.34 billion (AED60 billion), with project launches scheduled to begin during the second half of 2026.

The company also announced Yas Point, a $1.63 billion (AED6 billion) mixed-use waterfront community on Yas Island, alongside the launch of its first residential development, The Canopies.

Development sales reached $3.29 billion (AED12.1 billion) during the first half, reflecting what the company described as a measured approach to new project launches in the UAE in response to prevailing market conditions. Three projects were successfully launched during the second quarter.

Aldar's development backlog reached $19.49 billion (AED71.6 billion) at the end of June, including $16.31 billion (AED59.9 billion) in the UAE, providing revenue visibility over the next two to three years.

Sales to overseas and expatriate buyers totalled $2.07 billion (AED7.6 billion), accounting for 80% of total UAE sales during the first half of the year.

The group's international businesses also continued to expand, with SODIC and London Square increasing their contribution to overall sales. First-half sales at SODIC rose 171%, while London Square recorded 236% growth.

Aldar Investment reported an 18% increase in adjusted EBITDA to $490 million (AED1.8 billion) during the first half, supported by high occupancy levels, rental growth and recent strategic acquisitions, including a logistics portfolio at KEZAD and The Link at Masdar City completed during the second quarter.

Assets under management increased to $15.25 billion (AED56 billion), while the company's develop-to-hold pipeline reached $5.45 billion (AED20 billion) following the addition of five new projects during the quarter and the completion of a facility for Emirates Snack Foods.

Among the quarter's key announcements, Aldar partnered with Abu Dhabi's Department of Municipalities and Transport on a $762 million (AED2.8 billion) project to develop 9,000 value housing rental units. In Dubai, the company also acquired a residential and community retail development project in Dubai Studio City.

The group continued expanding its education portfolio, announcing plans for a British school within the new Al Ghadeer Gardens development, alongside the relocation of Cranleigh Abu Dhabi to a new campus on Saadiyat Island.

In April, Aldar completed a $1.36 billion (AED5 billion) sustainability-linked revolving syndicated credit facility, strengthening its liquidity position.

Total liquidity stood at $10.10 billion (AED37.1 billion), comprising $4.57 billion (AED16.8 billion) in free and unrestricted cash and $5.53 billion (AED20.3 billion) in committed undrawn bank facilities.

Mohamed Khalifa Al Mubarak, Chairman of Aldar, said:

"This diversification is a structural advantage, allowing us to translate Abu Dhabi's momentum into positive performance across the business. In the first half, this was evident in sustained activity and firm customer confidence, with continued demand for our developments and rising occupancy and rental growth across the investment properties in our AED56 billion income-generating portfolio."

Talal Al Dhiyebi, Group Chief Executive Officer of Aldar, said:

"Our development business continued to generate robust revenue as we maintained steady progress in delivering our substantial UAE backlog, while our businesses in the UK and Egypt continued to gain momentum. New launches in the UAE drew significant demand from international and expatriate resident buyers, who accounted for 80 percent of total sales in the first half, positioning us well for planned launches in the coming period."

He added:

"Looking ahead, we remain focused on delivering on our residential development backlog and our develop-to-hold pipeline, while adding further value across our expanding investment property portfolio.”