Aldar’s Q3 profit up 40% as developer plans new affordable projects

Aldar Properties, Abu Dhabi’s biggest listed property company, reported a 40.5 per cent annual surge in third quarter profit amid a property boom in the UAE and plans to launch projects focusing on the affordable and middle income segment next year.

Aldar’s net profit attributable to equity holders of the company for three months to the end of September climbed to about Dh1.53 billion ($416 million), the company said in a statement on Tuesday to Abu Dhabi Securities Exchange, where its shares are traded.

Revenue during the period jumped 44 per cent annually to Dh8 billion, boosted by UAE property sales of Dh9.1 billion from its existing inventory as well as new launches, including Fahid Beach Terraces, Rise by Athlon and Al Deem Townhomes.

The company, which has been launching projects catering to the premium and luxury segment, aims to “serve a wider base of the market,” as the UAE population grows, chief financial and sustainability officer Faisal Falaknaz told reporters.

“It’s not only affordable, it’s affordable to middle income, and this where we want to replenish our land bank to start serving that segment, predominantly in Abu Dhabi, which is our core market, and Dubai as well, where we are going to replenish land in the future.”

The UAE’s property market is expected to continue to perform strongly amid higher demand from buyers, according to Mr Falaknaz.

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“We continue to see very strong demand in the market for residential units, not only for sale, but for rented [units] as well. This is on the back of population growth, and this is on the back of job creation.”

Demand and supply dynamics in Abu Dhabi continues to be “extremely healthy”, he said. “We see it in our own business. For example, this academic year we’ve added more than 2,000 students into our schools.”

Aldar expects full year sales to be about Dh39 billion this year, up from Dh33 billion recorded last year “with the majority coming from UAE sales”, Mr Falaknaz said.

“We expect Q4 [fourth quarter] to be strong, and we expect next year to be strong.”

Aldar this week announced that it is investing $1 billion in Yas Island and Al Shamkha in new projects to expand its portfolio. The new develop-to-hold properties for long-term leasing will be built around Abu Dhabi’s international airport, it said on Monday.

The developer launched other projects earlier this year, including the Dh40 billion Fahid island and Waldorf Astoria Residences on Yas Island. The company generated Dh850 million from the Astoria project.

Aldar’s development business has been “supported by strong domestic sales and the continued growth of overseas buyers drawn by the UAE’s position as one of the world’s safest and most attractive investment destinations”, said Aldar group chief executive Talal Al Dhiyebi.

The UAE’s property market has been booming on the back of government reforms, including residency permits for retired and remote workers and expansion of the 10-year golden visa programme.

Abu Dhabi property deals in the first half of 2025 surged by 42 per cent annually to Dh54 billion, with total volume of transactions up 25 per cent to 15,578, according to the latest data from Abu Dhabi Real Estate Centre.