Abu Dhabi: Aldar Properties today announced its financial results for the first quarter of 2025, reporting a 33% year-on-year increase in profit before tax to AED2.2 billion, with net profit after tax rising by 22% year-on-year to AED1.9 billion.
According to Emirates News Agency, Mohamed Khalifa Al Mubarak, Chairman of Aldar, stated that the company's performance at the beginning of the year reflects the strength and diversification of its business sectors, and its ability to operate efficiently and grow in line with a clear strategy to create sustainable long-term value. He emphasized that the UAE provides a conducive environment for stability and business growth, focusing on investing in vital sectors, attracting business, and diversifying the economy.
He noted that Aldar is well positioned to deliver sustainable performance, deploy capital efficiently, and strengthen its role as a long-term partner in shaping the UAE's economic development, highlighting that the development revenue backlog has reached a record AED55.7 billion.
Talal Al Dhiyebi, Group CEO of Aldar, mentioned that Aldar delivered strong financial results in the first quarter, driven by continued momentum across its core business segments. Net profit before tax rose by 33% to AED2.2 billion, while development sales increased by 42% to AED8.9 billion. Construction is progressing on new projects in line with plans amid sustained demand from both local and international buyers.
He added that at the start of the year, Aldar proactively took steps to enhance its financial position and liquidity through capital markets issuances and securing a syndicated loan. Aldar recorded AED46.7 billion in UAE revenue backlog, indicating strong revenue visibility over the next two to three years. Sales to international and resident buyers in the UAE rose to AED7.4 billion, representing 87% of total UAE sales.
Aldar bolstered its capital structure and financial flexibility through issuing AED3.7 billion in hybrid capital notes, AED1.8 billion in green sukuk, and securing AED9 billion in syndicated revolving credit facilities, along with a AED1.8 billion hybrid capital solution from Apollo. The project management services backlog reached AED88.7 billion as of the end of March 2025, with AED49.5 billion under construction, reflecting strong government investment in infrastructure and housing.
In Q1, Aldar also recorded a 25% year-on-year increase in earnings per share to AED0.20, supported by earnings growth across all platforms. Aldar maintains a strong liquidity position to support its growth plans, with AED10.2 billion in unrestricted cash and AED19.3 billion in undrawn bank facilities as of end-March.
Aldar Development recorded a 46% year-on-year increase in revenue to AED5.7 billion, with EBITDA rising by 50% to AED1.8 billion, driven by revenue backlog and strong sales from new launches and existing inventory amid sustained international demand. Aldar Investment continued to deliver on its diversification and growth strategy, with EBITDA rising by 10% year-on-year to AED764 million, a 20% increase excluding gains from asset sales, while assets under management grew to AED46 billion.
Internationally, SODIC contributed AED172 million in revenue to Aldar Development, with revenue backlog reaching AED6.3 billion by end-March 2025. London Square contributed AED135 million to Aldar Development revenue.
