Aldar in Abu Dhabi Reports 22% Jump in First-Quarter Profit to $517 Million Due to Higher Revenue
Real estate company Aldar, based in Abu Dhabi, said on Tuesday that its profit for the first quarter rose by 22% compared to last year, reaching $517.3 million (AED 1.9 billion), thanks to higher earnings.
First-quarter performance
- The company’s net profit increased due to a strong 39% rise in revenue, which reached $2.1 billion (AED 7.8 billion) for the first three months of the year, according to a report on the Abu Dhabi Securities Exchange (ADX).
- Aldar’s gross profit grew by 37%, reaching $762.3 million (AED 2.8 billion) for the quarter ending March 31, 2025.
- The company also saw a 36% increase in earnings before interest, taxes, depreciation, and amortization (EBITDA), reaching $680.6 million (AED 2.5 billion) in the first quarter of the year, according to the filing.
- Aldar’s earnings per share (EPS) was about $0.054 (AED 0.2), up by 25%, thanks to the growth in its overall earnings.
Revenue growth
Aldar’s revenue growth was mainly due to a 42% rise in development sales, totaling $2.4 billion (AED 8.9 billion). This was driven by strong demand for both existing properties and new ones.
The company also saw a significant increase in sales to international buyers. Sales to overseas and expatriate customers in the UAE reached $2 billion (AED 7.4 billion), making up 87% of total sales in the UAE.
Business segments
Aldar Development’s revenue grew by 46%, reaching $1.6 billion (AED 5.7 billion) in the first quarter of 2025. Its EBITDA also rose by 50%, reaching $490.1 million (AED 1.8 billion). This strong performance was due to the company’s large project backlog and strong sales from both new and existing properties, supported by high demand from international buyers.
Within this division, UAE sales increased by 38%, reaching $2.3 billion (AED 8.4 billion), up from $1.7 billion (AED 6.1 billion) during the same period last year.
Aldar Investment saw a 15% increase in revenue, reaching $509.4 million (AED 1.9 billion), and its EBITDA grew by 10%, reaching $208 million (AED 764 million) for the quarter.
Crucial quote
“Our investment portfolio continued to perform well, with recent acquisitions, higher rental rates, and nearly full occupancy helping to grow revenue and ensure stable income,” said Aldar Group CEO Talal Al Dhiyebi in the statement.
“In early 2025, we took steps to strengthen Aldar’s financial position by increasing liquidity through capital market issuances and a syndicated loan,” he added.
Published: 3rd May 2025
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