Aldar Properties has reported robust first-quarter results for 2025, with profit before tax rising 33% year-on-year to AED2.2 billion ($599 million). Net profit after tax increased by 22% to AED1.9 billion, driven by strong momentum across its development and investment businesses.
Chairman: Diversification and Strategic Growth Fuel Performance
Mohamed Khalifa Al Mubarak, Chairman of Aldar, credited the strong start to the year to the “strength and diversification of its business sectors” and the group’s efficiency and clear strategy to create sustainable long-term value, according to a report by WAM news agency.
He added that the UAE continues to provide a supportive climate for business and investment, underpinned by “a focus on investing in vital sectors, attracting business, and diversifying the economy.”
Al Mubarak emphasized Aldar’s readiness to deploy capital efficiently and deliver sustainable performance while enhancing its role in supporting the UAE’s economic development. The company’s development revenue backlog has reached a record AED55.7 billion, underscoring future growth prospects.
CEO: Strong Sales and Strategic Moves Support Growth
Talal Al Dhiyebi, Group CEO of Aldar, said the group’s Q1 performance was driven by “continued momentum across its core business segments.”
- Development sales rose by 42% to AED8.9 billion, as construction on new projects continues in line with plans and growing demand from both local and international buyers.
- Early in the year, Aldar bolstered its financial position through various capital markets transactions and debt facilities to enhance liquidity.
Solid Revenue Visibility and Buyer Demand
The company reported AED46.7 billion in UAE revenue backlog, providing visibility over the next two to three years. Of total UAE sales, 87% (AED7.4 billion) came from international and resident buyers, indicating strong local and global demand.
Capital Structure Enhanced Through Debt and Equity Instruments
To support its long-term strategy and financial flexibility, Aldar raised:
- AED3.7 billion in hybrid capital notes
- AED1.8 billion in green sukuk
- AED9 billion in syndicated revolving credit facilities
- AED1.8 billion in hybrid capital from Apollo
Project Management and Infrastructure Backlog Grows
Aldar’s project management services backlog reached AED88.7 billion by the end of March 2025, with AED49.5 billion currently under construction. This reflects sustained investment by the UAE government in infrastructure and housing.
Earnings Per Share and Liquidity
Earnings per share rose 25% year-on-year to AED0.20, supported by earnings growth across platforms. Aldar ended the quarter with AED10.2 billion in unrestricted cash and AED19.3 billion in undrawn bank facilities, providing a strong liquidity buffer for expansion.
Business Segment Performance: Development and Investment
- Aldar Development
Revenue surged 46% year-on-year to AED5.7 billion, while EBITDA climbed 50% to AED1.8 billion. Growth was driven by the company’s expanding backlog and strong sales, especially amid continued international buyer demand. - Aldar Investment
EBITDA rose 10% year-on-year to AED764 million, and 20% excluding asset sale gains, reflecting continued diversification efforts. Assets under management reached AED46 billion.
International Contributions
- Egypt-based SODIC added AED172 million in revenue, with its backlog reaching AED6.3 billion.
- UK-based London Square contributed AED135 million to development revenue.
Aldar’s performance reflects both resilient market fundamentals and the success of its multi-pronged strategy combining local development, international expansion, and disciplined capital management.
