Modon posts Dh3.9 billion profit, Dh46 billion backlog signals strong pipeline

Dubai: Abu Dhabi developer Modon reported Dh3.9 billion in net profit for 2025 after revenue rose to Dh13.8 billion, supported by record property sales and a sharp rise in its project pipeline.

The group’s revenue backlog reached Dh46 billion, up nearly 1.8 times year on year, providing strong visibility on future income. Real estate remained the main driver, with total sales climbing to Dh36.3 billion, nearly three times higher than the previous year.

Most of the sales were generated in Abu Dhabi, where projects on Reem Island and Hudayriyat Island recorded repeated sell outs during successive launches.

Property business leads earnings growth

Real estate revenue rose to Dh7.4 billion, more than doubling during the year as Modon accelerated project execution and recognised backlog revenue.

International projects also contributed to growth. The launch of the Ras El Hekma development in Egypt generated Dh5.8 billion in sales, while operations in Spain continued to add recurring income.

Construction and consulting contracts worth Dh32 billion were awarded during the year, reflecting a sharp increase in project delivery activity.

Recurring income segments expand

Asset and investment management revenue rose 13.2% to Dh655 million, supported by occupancy levels of about 97% across owned properties.

Hospitality revenue increased 38.9% to Dh792 million, driven by higher room rates and occupancy of about 71%.

Events, catering and tourism revenue doubled to Dh5 billion after the group hosted 896 events and served more than 51 million meals.

"Building on the sustained growth momentum of recent years, 2025 marked a new phase of accelerated strategic transformation for Modon, mobilising an integrated business platform aligned across development, investment, and asset management," said Chairman Jassem Mohamed Bu Ataba Al Zaabi.

Group Managing Director Abdullah Al Sahi said the company strengthened its operational platform during the year.

"Modon Holding’s full-year 2025 results mark a clear step in delivering its long-term strategy, as the Group expanded its operations and further diversified its investment portfolio."

Modon ended the year with a net cash position of Dh1.8 billion, providing funding capacity for project expansion.

The company said it will focus on converting its Dh46 billion backlog into revenue while expanding recurring income from asset management, hospitality and events businesses.