Aldar Properties posts 10% Q2 profit rise on 5% revenue growth

Aldar Properties posted a 10 per cent rise in Q2 profit. Net profit attributable to equity holders climbed to Dh2.16 billion, while revenue and rental income grew 5 per cent year‑on‑year to Dh8.1 billion. The company’s first‑half profit rose 16.3 per cent annually to Dh4.2 billion, and total revenue for the January‑June period increased 8 per cent to Dh16.8 billion. “Aldar's robust first‑half performance is the direct result of a clear strategy and deliberate investment decisions taken over many years, which have created a strong and highly diversified business underpinned by exceptional financial strength.” — Mohamed Al Mubarak, Chairman Quarterly financial highlights Despite a 43 per cent drop in second‑quarter sales to Dh5.4 billion, the developer’s profit margin improved thanks to higher rental yields and cost‑control measures. First‑half sales fell 34 per cent to Dh12.1 billion, with UAE sales down 46 per cent to Dh9.5 billion and a further 61 per cent decline in Q2 to Dh3.5 billion. Growth in overseas markets helped offset domestic weakness. Sales in Egypt surged 171 per cent and in London jumped 236 per cent during the first half, providing a meaningful contribution to the overall earnings profile. Backlog and market context Aldar’s development backlog stood at Dh71.6 billion at the end of June, including Dh59.9 billion of projects within the UAE. The firm expects this pipeline to drive revenue recognition over the next two to three years. Abu Dhabi’s broader property market remained active, with total real‑estate transactions up 112 per cent year‑on‑year to Dh117 billion and transaction volumes rising 61.7 per cent to 16,838. Residential prices in the emirate rose about 21.6 per cent year‑on‑year in Q2, led by a 24.4 per cent jump in apartment values. “The backlog is the driver of revenue growth. This is a demonstration of continued construction activity across our sites and, as we construct, we collect sales from our customers.” — Faisal Falaknaz, Group Chief Finance and Sustainability Officer With a diversified portfolio spanning commercial, retail, logistics, hotel and education sectors, Aldar continues to deliver strong earnings while positioning for sustained growth as its project pipeline matures. Frequently asked questions What is Aldar Properties' Q2 profit? Aldar Properties posted a 10% rise in Q2 profit, with net earnings of Dh2.16 billion. How much is Aldar Properties' development backlog? Aldar's development backlog stood at Dh71.6 billion at the end of June. What is the growth in Aldar Properties' revenue? Revenue and rental income grew 5% year‑on‑year to Dh8.1 billion. How did Aldar Properties' sales perform in Q2? Despite a 43% drop in second‑quarter sales to Dh5.4 billion, the developer’s profit margin improved thanks to higher rental yields and cost‑control measures. What is the state of Abu Dhabi's property market? Abu Dhabi’s broader property market remained active, with total real‑estate transactions up 112% year‑on‑year to Dh117 billion and transaction volumes rising 61.7% to 16,838. How did residential prices in Abu Dhabi change in Q2? Residential prices in the emirate rose about 21.6% year‑on‑year in Q2, led by a 24.4% jump in apartment values.