Abu dhabi: Aldar reported strong financial and operational results for the first half of 2026, driven by continued momentum in its development business, the strength of its investment property portfolio, and the growth of its regional and international operations.
According to Emirates News Agency, the group's first-half net profit after tax increased 18 percent year-on-year to AED4.9 billion. This growth was propelled by the realization of development revenue backlog and resilient earnings from a diversified, defensive investment properties portfolio. Earnings per share grew 17 percent year-on-year to AED0.53 in H1.
In July, Aldar unveiled Marsa Al Saadiyat, marking the final phase of Saadiyat Island's masterplan with an AED100 billion gross development value (GDV), of which Aldar will develop AED60 billion, with launches commencing in the second half of the year. Aldar also announced Yas Point, an AED6 billion mixed-use waterfront community on Yas Island, and launched its first development, The Canopies.
The group reported development sales of AED12.1 billion in the first half, reflecting a measured approach to new launches in the UAE in response to market conditions, with three successful UAE projects launched in the second quarter. Aldar's development backlog stood at AED71.6 billion at the end of June, including AED59.9 billion in the UAE, driving revenue recognition over the next two to three years.
Sales to overseas and expatriate buyers totaled AED7.6 billion, representing 80 percent of UAE sales. Meanwhile, Aldar's international businesses, SODIC and London Square, increased their contributions to group sales, with first-half 2026 sales up 171 percent and 236 percent, respectively.
Aldar Investment's first-half 2026 adjusted EBITDA rose 18 percent year-on-year to AED1.8 billion, supported by high occupancy and rental growth, as well as recent strategic acquisitions, including a logistics portfolio at KEZAD and The Link at Masdar City in the second quarter. Assets under management at Aldar Investment rose to AED56 billion. The develop-to-hold pipeline, which supports future income growth, stood at AED20 billion following the addition of five new projects in the second quarter, and completion of a facility for Emirates Snack Foods.
Among the develop-to-hold announcements in the second quarter, Aldar and Abu Dhabi's Department of Municipalities and Transport entered an AED2.8 billion partnership to develop 9,000 value housing rental units. In Dubai, Aldar acquired a residential and community retail development project in Dubai Studio City. Aldar continued to invest in education with a British school planned for the new Al Ghadeer Gardens development, and the relocation of Cranleigh Abu Dhabi to a new state-of-the-art facility on Saadiyat Island.
The group also closed an AED5 billion sustainability-linked revolving syndicated credit facility in April, enhancing Aldar's liquidity position, which stands at AED37.1 billion, including AED16.8 billion in free and unrestricted cash and AED20.3 billion in committed undrawn bank facilities.
Mohamed Khalifa Al Mubarak, Chairman of Aldar, stated that Aldar's robust first-half performance is the direct result of a clear strategy and deliberate investment decisions taken over many years, creating a strong and highly diversified business underpinned by exceptional financial strength. He highlighted the structural advantage of diversification, which allows the company to translate Abu Dhabi's momentum into positive performance across the business.
Talal Al Dhiyebi, Group Chief Executive Officer of Aldar, noted that Aldar delivered a solid first-half performance, characterized by healthy operating margins, steady revenue growth, and a net profit increase of 18 percent year-on-year. He emphasized that Aldar's development business continued to generate robust revenue with steady progress in delivering its substantial UAE backlog, while international businesses in the UK and Egypt continued to gain momentum. Al Dhiyebi reiterated the focus on delivering the residential development backlog and the develop-to-hold pipeline, while adding further value across the expanding investment property portfolio.