Aldar has significantly strengthened its foothold in Aldar Estates, increasing its stake to 82.55% following the acquisition of Modon Holding’s 17.45% indirect ownership, which was held through the wholly owned subsidiary ADNEC Group. This strategic move underscores Aldar’s commitment to expanding its influence in the real estate sector and positions Aldar Estates for greater growth in the competitive market.
Through a combination of strategic acquisitions and organic growth, Aldar Estates has emerged as the leading integrated real estate services corporation in the region, currently overseeing more than AED3 billion ($817 million) in active contracts.
The platform’s portfolio boasts the management of over 155,000 residential units, achieving an impressive 15% growth rate over the past two years. Additionally, it has doubled its prime retail and commercial leasable space to a remarkable two million square meters during this period.
Aldar Estates and Financial Performance
In 2024, Aldar Estates reported revenue of AED2.6 billion ($708 million) and EBITDA of AED400 million ($109 million). These figures significantly bolster Aldar’s strategy to expand and diversify its recurring income streams.
Jassem Salah Busaibe, CEO of Aldar Investment, remarked, “Aldar Estates is on a strong growth trajectory, driven by rising demand for facilities management, property management, and community services.” This statement highlights the increasing market need that Aldar Estates is well-positioned to meet.
“Supported by Aldar’s development pipeline, an expanding portfolio of investment properties, and a growing base of third-party clients, the business is well positioned to scale further, capture new opportunities in the real estate services market, and deliver long-term value to communities, clients, and shareholders,” Busaibe added, emphasizing the firm’s strategic advantages.
Expanding Capabilities and Future Prospects
Aldar Estates operates under the Aldar Investment umbrella, which manages a robust AED47 billion ($12.8 billion) portfolio of income-generating assets. Recent acquisitions have broadened the platform’s capabilities, enhancing services in landscaping, security, technical services, sustainability consulting, and community management.
In late 2023, Aldar Estates further expanded its reach by acquiring FAB Properties, a move that not only increased its client base but also enriched its service offerings in the competitive real estate marketplace. This strategic acquisition aligns well with Aldar’s objectives to enhance its service capabilities and provide comprehensive solutions to clients.