Aldar Profit Jumps 19% To $1.9 Billion Over Nine Months

Key Points

1. Aldar posted $1.9 billion in net profit for the first nine months of 2026, up 19%.
2. Revenue rose 11% to $7.1 billion as the developer converted an existing project backlog.
3. Foreign and expatriate buyers drove 78% of UAE sales, underlining Abu Dhabi's pull on overseas capital.

The latest:

Net profit after tax at Abu Dhabi’s Aldar climbed 19% year on year to $1.9 billion in the first nine months of 2026, according to a financial statement published Tuesday, with the developer crediting backlog conversion and earnings from its diversified investment property portfolio. Revenue rose 11% to $7.1 billion over the same period. Shares gained 2.51% on the Abu Dhabi Securities Exchange.

Details:

• The headline numbers: EBITDA rose 20% year on year to $2.6 billion in the January-September period, according to the statement, while earnings per share also grew 20% to $0.2. Revenue of $7.1 billion represented an 11% increase, outpaced by the faster growth in profitability metrics.
• Sales momentum: Group development sales reached $5.2 billion across the first nine months, of which $1.9 billion landed in the third quarter alone. UAE sales totaled $3.9 billion for the nine-month period, with year-to-date sales exceeding $5.5 billion, the company reported.
• Who is buying: Sales to overseas buyers and expatriate residents in the UAE hit $3.08 billion between January and September, accounting for 78% of all UAE sales. The concentration leaves Aldar’s domestic sales book heavily dependent on non-citizen demand.
• Project pipeline: Aldar launched seven projects in the third quarter, taking its year-to-date total to 12, which the company attributed to accelerated launches and sustained demand for both new developments and existing inventory.
• Investment arm: Aldar Investment’s assets under management reached $15.52 billion over the nine months, lifted by acquisitions and completed projects including the Emirates Snack Foods cold storage facility and the first phase of a Grade A logistics center at National Industries Park.
• International units: Egypt-based SODIC and UK-based London Square grew sales 99% and 177% year on year respectively in the first nine months, increasing their contribution to group sales, according to the company.
• The Arada deals: Aldar announced a September partnership with Arada covering $3 billion in development opportunities for a joint venture in Seih Al Sedeirah, alongside the sale of Yas Island land plots. An October forward purchase agreement followed for more than 1,100 residential units at Arada’s Aljada development for $299.5 million.
• First Sharjah entry: The Aljada transaction marks Aldar’s first real estate investment in Sharjah, extending a portfolio long anchored in Abu Dhabi. Separately, Aldar and Mubadala bought the nearly fully occupied Masdar City Square for $250 million in the third quarter through a joint venture established in 2024.
• Management framing: Chairman Mohamed Khalifa Al Mubarak tied the results to Abu Dhabi’s economic foundations, long-term vision and infrastructure investment. CEO Talal Al Dhiyebi said fourth-quarter priorities remain execution, converting customer demand into sales and progressing the expanding development and investment pipelines.
• Market standing: Shares traded at $2.11 on the Abu Dhabi Securities Exchange as of 11:30 am AST Tuesday, giving Aldar a market capitalization of $16.6 billion. The company ranked 28th on Forbes Middle East’s 100 Most Valuable Companies 2026 list.

Between the lines:

Profit growth is outrunning revenue growth by a wide margin, pointing to margin expansion rather than volume gains alone. Aldar’s own explanation, backlog conversion, suggests much of the period’s earnings came from sales booked earlier. The Arada and Mubadala deals, together with the Sharjah entry, show a developer buying growth outside its home emirate while demand there still holds.

What’s next

Fourth-quarter and full-year results will show whether the remaining backlog sustains margins once converted, and whether the 12 launches translate into booked sales. The Aljada forward purchase and the Seih Al Sedeirah joint venture have no disclosed delivery timeline.