Aldar Group reported a net profit after tax of Dhs7.1 billion for the first nine months of 2026, marking a 19% increase year-on-year (YoY), supported by development backlog conversion and resilient earnings from its diversified investment property portfolio.
Earnings per share rose 20% YoY to Dhs0.77, while adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) increased 21% to Dhs2.8 billion. The growth was supported by high occupancy rates, rental growth and the addition of new properties to the group’s recurring-income portfolio.
The company’s investment assets under management (AUM) reached Dhs57 billion following new acquisitions and the completion of projects, including the Emirates Snack Foods cold store facility and Phase 1 of a Grade A logistics centre at National Industries Park in Dubai.
Development sales reach Dhs18.9 billion
Aldar’s development sales totalled Dhs18.9 billion during the first nine months, including Dhs6.8 billion in the third quarter (Q3). UAE sales reached Dhs14.4 billion during the nine-month period, while year-to-date sales across the business exceeded Dhs20 billion.
The company launched seven projects during Q3, bringing the total number of launches for the year to 12. The increased activity followed a measured launch strategy in the first half of 2026, with demand remaining strong for both newly launched projects and existing inventory.
International demand continued to contribute significantly to sales. Overseas buyers and expatriate residents accounted for Dhs11.3 billion in UAE sales during the first nine months, representing 78% of total UAE sales.
At the end of September, Aldar’s development backlog stood at Dhs71.6 billion, including Dhs59.3 billion in the UAE. The backlog provides visibility over potential revenue recognition in the next two to three years, subject to project delivery schedules and other factors.
The company also expanded its development pipeline with the unveiling of new destinations, including Marsa Al Saadiyat, with a gross development value (GDV) of Dhs60 billion, and Yas Point, valued at Dhs6 billion in GDV.
Investment portfolio expands through acquisitions
Aldar Investment continued to expand its recurring-income portfolio, supported by acquisitions and completed develop-to-hold (d-hold) projects. The d-hold pipeline, which comprises assets intended to generate long-term income, reached Dhs21.3 billion following the announcement of Dhs6.6 billion in new projects since the start of the year.
During Q3, Aldar and Mubadala acquired Masdar City Square for Dhs918 million through their joint venture established in 2024. The property was nearly fully occupied at the time of the acquisition.
In September, Aldar announced a strategic partnership with Arada that created Dhs11 billion in development opportunities for the Aldar-Arada joint venture in Seih Al Sedeirah. The agreement also included the sale of land plots on Yas Island to Arada.
In October, Aldar agreed to a Dhs1.1 billion forward purchase of more than 1,100 residential units at Arada’s Aljada development. The transaction marked Aldar’s first real estate investment in Sharjah.
Aldar’s international businesses also recorded growth. SODIC and London Square increased their contributions to group sales, with sales during the first nine months of 2026 rising 99% and 177%, respectively.
Liquidity stands at Dhs38.2 billion
Aldar maintained access to funding and financial flexibility following the issuance of US$2 billion in hybrid instruments during the first quarter and the completion of a Dhs5 billion sustainability-linked revolving syndicated credit facility in the second quarter.
Group liquidity stood at Dhs38.2 billion at the end of Q3, providing financial capacity to support development commitments, investment activity and future growth.
Management highlights Abu Dhabi’s economic outlook
Mohamed Khalifa Al Mubarak, Chairman of Aldar, said, “Abu Dhabi continues to demonstrate the strength of its economic foundations, supported by a clear long-term vision, sustained investment in infrastructure and lifestyle, and a progressive business environment. These strengths continue to underpin the emirate’s attractiveness as a destination to live, work and invest.
“Aldar’s performance reflects these foundations, alongside the deliberate investment decisions we have made over time to build a more diversified and resilient business.”
Talal Al Dhiyebi, Group Chief Executive Officer of Aldar, said, “Aldar’s performance in the first nine months reflects the growing strength and maturity of our business, and our ability to maintain momentum while responding to changing market conditions with discipline. Following a measured approach to new launches during the first half, we accelerated activity in Q3 with encouraging demand for our new communities.
“Alongside this momentum, we have maintained our focus on executing our substantial development backlog, while investments made across our recurring-income platform in recent years are delivering increasingly meaningful contributions to earnings.”
He added, “As we enter the final quarter, our priorities remain firmly on execution, converting customer demand into sales and progressing our expanding development and investment pipelines. With the scale and diversity of our platform, we are well positioned to sustain momentum and pursue new opportunities while maintaining our commitment to disciplined capital deployment and long-term value creation.”
tanvir@dubainewsweek.com
