Alpha Dhabi Posts 23% Profit Gain as AI Holdings Lift Nine-Month Results
Net profit reached $3.5B for the first nine months of 2026, helped by $1B in fair value gains on stakes in SpaceX, Anthropic and OpenAI.
Alpha Dhabi Holding's net profit climbed 23% year on year to $3.5 billion (AED12.8 billion) in the first nine months of 2026, up from $2.8 billion (AED10.4 billion) in the same stretch of 2025. The company disclosed the figures in a Monday statement.
Group revenue rose 6.1% to $15.9 billion (AED58.3 billion) from $14.9 billion (AED54.9 billion). Adjusted EBITDA grew 9% to $3.8 billion (AED13.9 billion) from $3.5 billion (AED12.8 billion).
A large part of the profit gain came from the investment book rather than from operations. Fair value gains on holdings reached $1 billion (AED3.8 billion) over the nine months, which the company attributed to positions in artificial intelligence and technology groups including SpaceX, Anthropic and OpenAI.
Total assets stood at $64.4 billion (AED236.4 billion) on September 30, 2026, 10% above the $58.4 billion (AED214.4 billion) recorded at the end of 2025. Total equity increased 10.2% to $31.2 billion (AED114.6 billion) from $28.3 billion (AED104 billion). Cash and bank balances were $9.9 billion (AED36.5 billion).
Real estate leads the segment table
Real estate produced $6 billion (AED22.2 billion) of external revenue, the largest contribution by segment. Industrial activity added $5.8 billion (AED21.3 billion), construction $2.3 billion (AED8.6 billion) and services and other businesses $1.7 billion (AED6.2 billion).
Revenue earned outside the UAE by portfolio companies came to $2.1 billion (AED7.7 billion), or 13.2% of the total.
Mohamed Thani Murshed Ghannam Al Rumaithi, the chairman, said the nine-month performance reflected the resilience of the UAE economy and the strength of the group's diversified portfolio.
Hamad Al Ameri, managing director and group CEO, said the company advanced its priorities through AI, global technology and private credit investments while widening its international presence. He said the focus through the close of 2026 is operational performance and disciplined capital deployment.
The $1 billion of fair value gains was larger than the $700 million increase in net profit year on year, which shows how much of the headline number rests on valuations rather than on recurring operations. That is the trade-off a holding company accepts when it parks capital in private technology assets. Revenue concentration tells a similar story: real estate and industrial together supplied the bulk of the top line, while the 13.2% earned abroad leaves the international push at an early stage.
Capital moves across funds, credit and Sharjah
In October, Alpha Dhabi agreed to commit $1 billion (AED3.7 billion) to Alpha Wave III, a global investment fund managed by Alpha Wave Global, subject to approvals. That same month, Aldar, the developer in its portfolio, agreed to a $299.5 million (AED1.1 billion) forward purchase of nine residential buildings in Aljada, Sharjah, from Arada. The deal was Aldar's first real estate investment in the emirate.
In August, the group doubled its commitment to the MICAD Credit joint venture managed by Mubadala Capital to $1 billion and raised its ownership in the vehicle to 40% from 20%.
Alpha Dhabi placed 21st on a 2026 ranking of the 100 Most Valuable Companies, and Al Ameri took 12th place on a 2026 list of the Top 100 CEOs.
For the final quarter, the company named AI, digital banking, hospitality, advanced infrastructure, energy and healthcare as its focus areas.
