Aldar Net Profit Climbs 19% to $1.9 Billion on Backlog Conversion

Aldar's net profit after tax rose 19% year on year to $1.9 billion (AED 7.1 billion) in the first nine months of 2026, lifted by backlog conversion and resilient earnings from a diversified portfolio of investment properties.

Revenue for January to September reached $7.1 billion (AED 26.2 billion), up 11%. EBITDA climbed 20% to $2.6 billion (AED 9.4 billion), and earnings per share grew 20% to $0.2 (AED 0.8).

Sales and launches

Group development sales totaled $5.2 billion (AED 18.9 billion) across the nine months, of which $1.9 billion (AED 6.8 billion) came in the third quarter. UAE sales reached $3.9 billion (AED 14.4 billion). Sales year to date have now passed $5.5 billion (AED 20 billion).

Aldar launched seven projects in the third quarter, taking its count for the year to 12. It cited accelerated launches and sustained demand for new developments and existing inventory.

Investment arm and overseas buyers

Assets under management at Aldar Investment reached $15.52 billion (AED 57 billion) in the nine months, with new acquisitions and completed projects adding to the total. Two of the contributing assets were the Emirates Snack Foods cold storage facility and the first phase of a Grade A logistics center at National Industries Park.

Overseas and expatriate resident buyers purchased $3.08 billion (AED 11.3 billion) of UAE property in the period, equal to 78% of Aldar's total UAE sales.

Beyond the UAE, sales at SODIC rose 99% year on year and sales at London Square rose 177%. Both businesses held their momentum and increased their contributions to group sales.

Leadership comment

"Abu Dhabi continues to demonstrate the strength of its economic foundations," said H.E. Mohamed Khalifa Al Mubarak, Aldar's chairman.

Al Mubarak tied those foundations to the emirate's long-term vision, its spending on infrastructure and lifestyle, and a progressive business environment. Together, he said, they underpin Abu Dhabi's pull as a place to live, work and invest.

Chief executive Talal Al Dhiyebi said priorities entering the final quarter remain "firmly on execution": converting customer demand into sales and pushing development and investment pipelines forward.

Portfolio moves

Aldar expanded its portfolio through partnerships and acquisitions in the third quarter and in October, strengthening its presence across the UAE.

In September 2026 it announced a strategic partnership with Arada to create $3 billion (AED 11 billion) of development opportunities in the two companies' joint venture at Seih Al Sedeirah. The arrangement included the sale of land plots on Yas Island to Arada.

In October 2026 Aldar agreed to buy more than 1,100 residential units at Arada's Aljada development for $299.5 million (AED 1.1 billion) through a forward purchase, its first real estate investment in Sharjah.

The joint venture Aldar set up with Mubadala in 2024 acquired the nearly fully occupied Masdar City Square for $250 million (AED 918 million) in the third quarter.

Shares and rankings

Aldar shares gained 2.51% to $2.11 (AED 7.76) on the Abu Dhabi Securities Exchange by 11:30 am AST on Tuesday, valuing the company at $16.6 billion (AED 61 billion). Aldar placed 28th on a 2026 ranking of the region's 100 most valuable companies. Al Dhiyebi placed 29th on a 2026 list of the top 100 chief executives and third on a ranking of the most impactful real estate leaders.

Backlog conversion means revenue booked on units sold in earlier periods, so the profit gain tracks what was built and handed over rather than a fresh jump in orders. The buyer mix carries similar weight: with 78% of UAE sales coming from overseas and expatriate residents, Aldar's domestic revenue leans on demand from outside the country. The Aljada purchase and the Arada venture take the developer into Sharjah, a third emirate its pipeline had not reached before.