Aldar Q1 Net Profit Rises 20% To AED 2.3bln Reflecting The Resilience Of Its Diversified Business

Q1 2026 Group Highlights 

Net profit after tax increased 20% year-on-year (YoY) to AED 2.3 billion1, driven by realisation of development revenue backlog and resilient earnings from a diversified, defensive investment properties portfolio. Earnings per share for the Q1 2026 period increased 25% YoY to AED 0.25.

Group sales of AED 6.7 billion in the first quarter, with UAE sales contributing AED 5.9 billion. Two projects launched in the UAE in early Q1 2026: The Wilds Residences in Dubai and Baccarat Residences Saadiyat in Abu Dhabi.

Sustained demand among international buyers, with UAE sales to overseas and expat resident customers reaching AED 5.3 billion in Q1, representing 88% of total UAE sales.

Yas Park Place was launched in mid-April with 80% of released units sold to date, generating more than AED 800 million and highlighting continued confidence in Abu Dhabi’s real estate market.

Development revenue backlog rose to AED 72.1 billion, including AED 62.2 billion in the UAE, providing clear visibility on revenue recognition over the next three years.

Q1 landbank replenishment across the UAE with a Gross Development Value of AED 61 billion, including strategic land plots in key Abu Dhabi destinations, and the expansion of the Dubai Holding joint venture.

Aldar Investment’s adjusted EBITDA rose 18% YoY to AED 905 million , supported by high occupancy and contributions from strategic acquisitions. Assets under management rose to AED 52 billion.

The income-generating property portfolio remained resilient, supported by long-term leases and growth in the commercial, retail, industrial and logistics segments. Acquisitions of The Link at Masdar City and logistics assets at KEZAD further enhanced the platform.

Develop-to-hold pipeline expanded by AED 2.8 billion to AED 20.1 billion through a partnership with the Department of Municipalities and Transport to deliver 9,000 value housing units for rent in Abu Dhabi.

Strong financial position supports resilience and capital deployment strategy, with total available liquidity at AED 33.2 billion at March-end, comprising AED 13.9 billion in free and unrestricted cash and AED 19.4 billion in committed undrawn bank facilities.

Aldar closed a USD 1.0 billion (AED 3.7 billion) public hybrid issuance in January, followed by a USD 1.0 billion (AED 3.7 billion) hybrid issuance to Apollo in February. An AED 5 billion sustainability-linked committed revolving credit facility was completed in April, attracting strong demand from a broad group of regional and international banks.

In April, Aldar distributed a dividend of AED 0.205 per share for 2025, representing a 10.8% YoY increase and a total payout of AED 1.61 billion.

• Aldar Development’s revenue increased 14% YoY to AED 6.5 billion, with EBITDA increasing 23% to AED 2.2 billion, driven by continued project delivery on a record revenue backlog.
• Group sales totalled AED 6.7 billion, a 25% YoY decline reflecting moderating sales activity in March and a disciplined approach to launches in response to evolving market conditions. Customer collections have remained strong and in line with contractual schedules, while default rates have not deviated from historical levels of around 1%, reflecting continued buyer commitment and resilience of demand.
• Cross-geography sales have been supported by the company’s international sales network, which now includes ‘World of Aldar’ experience centres in Hong Kong and London, which opened in the first quarter.
• Group development revenue backlog reached a record level of AED 72.1 billion at the end of March 2026, up from AED 71.7 billion at the end of December, providing clear visibility on revenue over the next three years.
• Project management services backlog at the end of March 2026 was AED 91.6 billion, with AED 66.7 billion under construction, reflecting the strong pipeline of government investment in infrastructure and housing.

UAE

• Total UAE sales decreased 30% YoY to AED 5.9 billion, reflecting moderated launch activity with two projects launched: The Wilds Residences in Dubai, and Baccarat Residences, on Saadiyat Island in Abu Dhabi.
• In April, Aldar launched Yas Park Place. Sales reached over AED 800 million, with 80% of units released sold in the first week, highlighting sustained confidence in Abu Dhabi’s real estate market.
• UAE sales to overseas and expatriate buyers represented 88% in Q1 2026, reaching AED 5.3 billion, highlighting continued strength in international demand and sustained confidence in Abu Dhabi as a global investment destination.
• UAE revenue backlog at the end of March 2026 stood at a record AED 62.2 billion, up from AED 61.0 billion at the end of December, with an average duration of 29 months.
• Cash collections in Q1 2026 totalled AED 4.3 billion reflecting the strength of buyer commitment.

International

SODIC

• SODIC contribution to Aldar Development’s revenue was AED 116 million (EGP 1.5 billion).
• SODIC’s sales totalled AED 194 million (EGP 2.9 billion). Revenue backlog as at the end of March 2026 stood at AED 7.2 billion (EGP 107.1 billion), with an average duration of 39 months.

London Square

• London Square’s contribution to Aldar Development’s revenue was AED 316 million (GBP 64 million).
• London Square sales totalled AED 576 million (GBP 118 million), driven by three development launches in the first quarter, including Ransome’s Wharf, Wimbledon Bridge House, and Westminster Tower.
• The revenue backlog rose to AED 2.7 billion (GBP 560 million) at the end of March 2026, with an average duration of 31 months.