Aldar's three residential communities in Dubai also help with numbers
Dubai: The Abu Dhabi master-developer Aldar continues to hit the jackpot on sales to overseas and UAE expats, totaling Dh7.4 billion in the first three months of 2025. This made up a substantial 87% of Aldar’s total UAE sales, which apart from Abu Dhabi now extends to Dubai and Ras Al Khaimah.
All of which played their part in the company recording net profit before tax of Dh2.2 billion, up 33%. When it comes to the profit after tax, that tally comes to Dh1.9 billion, a gain of 22% year-on-year.
“Our pipeline of new launches is on track amid continued demand from both local and international buyers,” said Talal Al Dhiyebi, Group CEO at Aldar. “Meanwhile, our investment portfolio continued to perform positively, with recent acquisitions, increasing rental rates, and near-full occupancy levels driving revenue growth and income stability.”
Aldar is moving closer to launching its third island development in Abu Dhabi - Al Faid, which it had bought in late January of 2023. The masterplan should see more than 6,000 super-luxury homes with a 'potential sales value of Dh35 billion', according to Faisal Falaknaz, Chief Financial and Sustainability Officer.
"We have already doing a lot of destination building publicly and we are getting very close to launching Al Fahid in the second-half of 2025. (The 3.4 million square meter island is situated on the Sheikh Khalifa bin Zayed Highway. Aldar's other two island holdings in Abu Dhabu are Yas and Saadiyat.)
"The story (of UAE property market growth) remains the same," said Falaknaz. "The Aldar story is also very strong. We have great business fundamentals."
By end March, Aldar's UAE revenue backlog were at a 'record' high of Dh46.7 billion, from Dh45.9 billion for end 2024.
"With an average duration of 29 months, it provides significant visibility on revenue over the next 2-3 years," said a statement. "Cash collections remain strong totaling Dh3.6 billion as the company pursues accelerated delivery of projects."
According to Al Dhiyebi, "In early 2025, we took proactive steps to reinforce Aldar’s financial strength and resiliency, increasing liquidity through capital markets issuances and a syndicated loan.
"We have full confidence that our diversified platform, robust revenue backlog, and prudent capital deployment strategy position the company well to create long-term value for our stakeholders.”
In the first 3 months, Aldar's UAE sales increased 38% year-on-year to Dh8.4 billion, with new launches and existing offplan developments both chipping in. Aldar had two new projects for the period - Manarat Living III on Saadiyat Island and The Wilds in Dubai, its third development under a joint venture with Dubai Holding.
According to Falaknaz, "We've built a very successful franchise in Dubai, bringing a quite unique offering in sustainable living. We have seen that pay off in terms of demand on those three masterplans - Haven, Athlon and The Wilds.
"We are launching shortly a number of ultra-luxury villas on The Wilds."
On whether Aldar would look to buying more land in Dubai, he said: "Dubai continues to be a strategic market for us - so, strategic land replenishment is a priority..."
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