Aldar Properties PJSC released its financial results for the six months ended June 30 through the Emirates News Agency, showing net profit climbed to AED 4.9 billion. The figure represents an 18 percent increase over the AED 4.15 billion recorded in the comparable period of the prior year. The company said in the statement that revenue grew 13 percent to AED 6.5 billion, underpinned by higher contributions from its development and investment arms. Strong demand for residential units in Abu Dhabi supported the performance across its core segments.
According to the Aldar statement, development revenue advanced 22 percent to AED 3.9 billion during the period as the firm handed over units in multiple communities including Yas Acres and Al Ghadeer. Investment revenue rose 5 percent to AED 1.8 billion on the back of improved occupancy and rental rates across its commercial and retail portfolio. The asset management business posted a 10 percent increase in fee income to AED 118 million, the statement added. These gains occurred as the broader UAE property market continued to expand.
Knight Frank data shows Abu Dhabi residential prices increased by more than 15 percent in the first six months of the year compared with the same period in 2023. This market momentum helped major developers like Aldar sustain double-digit profit growth. The consultancy’s report placed total transaction volumes across the emirate at record levels, reflecting both local and international buyer interest in prime districts.
Aldar maintained a robust financial position with low net debt to equity, the company statement indicated. The developer highlighted ongoing projects in its pipeline valued at more than AED 50 billion that are scheduled for delivery through the remainder of the decade. Central Bank of the UAE figures place real estate lending growth at 8.2 percent for the first half, providing additional liquidity to the sector.
In Abu Dhabi, the Department of Municipalities and Transport reported a 20 percent year-on-year rise in building permits issued during the period, pointing to sustained construction activity. Aldar has participated in several government-aligned master plans focused on sustainable urban expansion. The company’s statement noted that its focus on mixed-use developments aligned with these initiatives.
Industry statistics from the Abu Dhabi Investment Office indicate the emirate attracted AED 24 billion in foreign direct investment in the first half, much of it directed toward real estate and tourism infrastructure. Aldar has positioned itself as a key partner in such projects through joint ventures and public-private initiatives. The firm said its diversified revenue model across development, investment and hospitality helped mitigate sector-specific risks.
