Modon Reports $1.06 Billion Net Profit in 2025 as Sales Reach $9.88 Billion

Dubai, UAE: Modon Holding delivered a landmark financial performance in 2025, reporting revenue of AED13.8 billion ($3.76 billion) and net profit of AED3.9 billion ($1.06 billion). The year marked Modon’s first full year of consolidated results following its formation in February 2024, underscoring the scale and speed of its institutional build-out.

In 2025, L’imad Holding Company, wholly owned by the Abu Dhabi Government, acquired an 84.75 percent ownership stake in Modon Holding. The transaction strengthened the group’s capital base and institutional positioning, supporting accelerated execution across its diversified portfolio.

“Modon’s 2025 achievements reflect a clarity of strategic direction and a growing ability to translate vision into sustainable economic value. This is being realized through the development of fully integrated urban ecosystems, improved capital allocation efficiency and enhanced resilience and sustainability of future cash flows,” said H.E. Jassem Mohamed Bu Ataba Al Zaabi, Chairman of Modon Holding.

“Supported by strong real estate performance in Abu Dhabi, Egypt, and Spain, alongside continued growth in recurring income businesses and disciplined international investments, Modon strengthened its operational platform and enhanced its ability to deliver sustainable value, reinforcing its position as a strategic partner driving quality growth across regional and global markets,” said H.E. Abdullah Al Sahi, Group Managing Director of Modon Holding.

Net Profit Outpaces Revenue Growth

Revenue for 2025 exceeded AED13.8 billion, representing a 2.1x year-on-year increase, supported by a growing development backlog, stronger recurring income streams and contributions from strategic acquisitions.

Adjusted EBITDA reached AED4.9 billion ($1.33 billion), rising 2.5x year-on-year, with margins expanding by 521 basis points to 35.2 percent. Net profit reached AED3.9 billion ($1.06 billion), increasing 19.9x year-on-year excluding prior-year one-off bargain purchase gains, highlighting operating strength across all core segments.

The group closed the year with a net cash position of AED1.8 billion ($490 million), reflecting a well-capitalised balance sheet positioned to fund development pipelines and expansion initiatives while maintaining disciplined capital structure targets.

Real Estate Leads with $9.88 Billion in Sales

Real estate remained the primary growth engine, with record sales of AED36.3 billion ($9.88 billion) across Abu Dhabi, Egypt and Spain. Performance was driven by rapid sell-outs of new launches in Abu Dhabi and the launch of Wadi Yemm, the first district within Ras El Hekma in Egypt.

In Abu Dhabi, Modon advanced key projects on Reem Island and the Hudayriyat Island masterplan, delivering successive launches and repeat sell-outs, while maintaining construction momentum. Ras El Hekma also progressed as a strategic international destination within the group’s expanding portfolio.

Group revenue backlog stood at AED46 billion ($12.52 billion), up 1.8x year-on-year. Development sales account for 93 percent of the backlog, reinforcing forward earnings visibility and underpinning sustained growth.

Diversified Growth Across Segments

Modon’s Asset and Investment Management and Hospitality segments improved income visibility through higher rental yields, strong occupancy rates and operational efficiencies, alongside strategic expansion in the United Kingdom, the United States and infrastructure-related platforms.

The Events, Catering and Tourism segment delivered strong growth driven by record activity levels and acquisitions, including Arena Group, as well as the full-year consolidation of Business Design Centre (UK) and Royal Catering.

International Expansion Gains Momentum

During 2025, Modon executed targeted global investments aligned with its long-term growth strategy. The group acquired a 50 percent equity interest in the 2 Finsbury Avenue development in London’s Broadgate district, marking its first direct exposure to UK prime commercial real estate.

It also completed the acquisition of 100 percent of Arena Events Group, significantly expanding its international event infrastructure capabilities and strengthening its North American presence.

In the United States, Modon invested in Wellington Lifestyle Partners, entering the equestrian-led lifestyle sector, and formed a joint venture with Related Companies and Panepinto Properties to develop Harborside 4, a luxury residential tower in Jersey City, New Jersey.

Positioned for Continued Delivery

Modon is focused on converting its AED46 billion ($12.52 billion) backlog into revenue while maintaining construction momentum across key destinations. Continued activation of its recurring income platforms across asset management, hospitality and events is expected to enhance earnings visibility and capital efficiency.

Supported by a strong balance sheet and disciplined capital deployment, the group remains positioned to pursue high-growth opportunities across priority international markets, infrastructure platforms and experiential developments.