Aldar Properties, Abu Dhabi’s largest listed developer, reported a 10% year-on-year jump in second-quarter net profit, with revenue up 5% despite broader regional uncertainty tied to the Iran conflict.
Net profit for the three months to end of June came in at AED 2.16 billion ($580 million), with quarterly revenue and rental income reaching AED 8.1 billion. For the first half of the year, profit climbed 16.3% annually to AED 4.2 billion, while revenue grew 8% to AED 16.8 billion.
Aldar’s chairman, Mohamed Al Mubarak, credited the strong first-half results to years of consistent strategic planning and investment decisions that have built a financially resilient well-diversified business.
The wider Abu Dhabi property market also had a standout first half: total real estate transactions jumped 112% year-on-year to AED 117 billion, with transaction volumes up 61.7% to 16,838 deals, according to Abu Dhabi Real Estate Centre figures. Residential prices in the emirate rose around 21.6% annually in the second quarter, with apartments leading the way at 24.4% growth and villas up a more modest 6.3%. By comparison, Dubai’s residential prices grew just 1.9% over the same period.
On the development side, Aldar continues to expand its pipeline — recently unveiling the AED 100 billion Marsa Al Saadiyat waterfront project, the final phase of Saadiyat Island’s masterplan, which will eventually house more than 58,000 residents across private mansions, luxury villas, waterfront apartments and branded residences. The developer also launched an AED 6 billion Yas Island waterfront project this month featuring 1,600 branded residences and a five-star resort, plus Yas Point — a new destination near the upcoming Sphere Abu Dhabi and Disneyland Abu Dhabi sites, set to house 5,000 residents alongside a school, retail and leisure space. Aldar is separately partnering with the Department of Municipalities and Transport to develop residential communities across five sites in Abu Dhabi.
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