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Tag: Aldar

  • UAE’s Top 10 Developers Sell Dh113.7 Billion in First Half of 2026

    UAE’s Top 10 Developers Sell Dh113.7 Billion in First Half of 2026

    The combined sales figures demonstrate the scale and momentum of the UAE’s property development sector, with the top three developers — Modon, Emaar and DAMAC — accounting for Dh61.4 billion alone during the six months to the end of June.

    Modon topped the ranking with Dh23 billion in Abu Dhabi property sales, supported by the launch of Hudayriyat Golf Estates and the sell-out of all units at Tara Park on Reem Island. The company’s total property sales across all markets reached Dh26 billion, 2.6 times the level recorded a year earlier, while group revenue climbed 40 percent year-on-year to Dh9.2 billion.

    Emaar followed with Dh22.4 billion in UAE sales, part of Dh26.6 billion in total property sales when international transactions are included. The developer’s revenue backlog from projects under development stood at approximately Dh164.9 billion at the end of June, up 13 percent from a year earlier.

    DAMAC ranked third with Dh16 billion in sales, placing the three developers well ahead of the rest of the market during the first half of 2026.

    Aldar recorded Dh9.5 billion in UAE development sales, part of Dh12.1 billion in total development sales across the group, ranking fourth among the country’s leading developers. International buyers and expatriate residents accounted for Dh7.6 billion, or 80 percent, of Aldar’s UAE sales during the period.

    Aldar’s development revenue backlog reached Dh71.6 billion at the end of June, including Dh59.9 billion from UAE projects, while net profit after tax rose 18 percent year-on-year to Dh4.9 billion.

    Binghatti ranked fifth with Dh7.6 billion in sales, narrowly ahead of Meraas at Dh7.5 billion and H&H at Dh7.4 billion.

    Ellington followed with Dh7 billion, while Omniyat recorded Dh6.7 billion and Beyond completed the top 10 with Dh6.6 billion, establishing the minimum threshold needed to rank among the UAE’s largest developers by sales volume during the first half of the year.

    The figures are based on announced first-half financial results, excluding international sales recorded by Modon and Emaar, together with the half-year ranking published by real estate data platform DXB Interact.

    The performance comes as Dubai completed 24,800 residential units during the first half of 2026, a 38 percent increase year-on-year, while transaction values across the emirate reached Dh221.4 billion. Meanwhile, Modon’s revenue backlog doubled year-on-year to a record Dh65.4 billion, positioning it as Abu Dhabi’s largest developer by sales value.

  • Aldar Acquires Dubai Studio City Development for $299.5 Million

    Aldar Acquires Dubai Studio City Development for $299.5 Million

    The transaction marks Aldar’s latest residential-for-rent community in Dubai, reinforcing the developer’s long-term strategy to build a high-quality recurring income portfolio and scale its presence across the emirate.

    Set for completion in 2028, the development will include six mid-rise buildings comprising 312 residential units, alongside a community mall featuring retail, recreational, and F&B concepts. A 16,000 square meter park will provide activity areas, a jogging track, and a playground within the community.

    “Dubai is a priority growth market for Aldar, and this acquisition reflects our belief in the city’s residential market and the central role that institutionally owned, professionally managed rental housing plays in meeting the needs of a growing population,” said Jassem Saleh Busaibe, Chief Executive Officer of Aldar Investment.

    Located in Dubai Studio City, the development benefits from established infrastructure, direct connectivity to Al Qudra Road and Hessa Street, and proximity to key employment and lifestyle hubs including Motor City and Dubai Sports City. The area offers easy access to Dubai Autodrome, Dubai International Cricket Stadium, Dubai Butterfly Garden, and a network of schools and community facilities.

    Busaibe emphasized that Dubai Studio City’s established infrastructure, vibrant community, and strong connectivity make it an excellent location for high-quality, professionally managed living environments.

    “This transaction is the latest step in a deliberate and broadening strategy to build a diversified portfolio of income-generating assets in Dubai, one that we expect to continue growing as the city attracts increasing global interest and talent,” he said.

    The acquisition builds on Aldar’s growing presence in Dubai across multiple asset classes. Aldar Investment’s recurring income portfolio in the emirate now spans residential, commercial, logistics, and mixed-use assets, including a mixed-use joint venture with Expo City Dubai, a landmark commercial tower in DIFC, a Grade A office tower on Sheikh Zayed Road, and logistics assets in National Industries Park and Dubai South.

    On the development side, Aldar’s joint venture with Dubai Holding has delivered strong momentum, with three master-planned residential communities already launched and an expanded pipeline of over 2.3 million square meters of new gross floor area supporting Dubai’s 2040 Urban Masterplan.

    The acquisition comes as Dubai’s property market demonstrates resilience in May 2026, with transactions exceeding Dh10 million surging following the proposed ceasefire between Iran and the US. The emirate’s rental market recorded Dh32.2 billion in contracts during the first quarter of 2026, signaling sustained market stability.

  • Aldar and DMT Partner to Develop 20 Million Sqm in Abu Dhabi

    Aldar and the Department of Municipalities and Transport (DMT) have formalized a major public-private partnership to deliver integrated communities spanning more than 20 million square meters across five strategic locations in Abu Dhabi, marking one of the emirate’s most ambitious urban development initiatives.

    The agreement was signed on May 12, 2026, during the Abu Dhabi Infrastructure Summit (ADIS) 2026, with His Excellency Suhail Mohamed Al Mazrouei, Minister of Energy and Infrastructure, His Excellency Mohammed Ali Al Shorafa, Chairman of DMT, and His Excellency Mohamed Khalifa Al Mubarak, Chairman of Aldar, in attendance.

    His Excellency Abdulla Mohamed Al Blooshi, Director General of the Urban Planning and Permits Centre at DMT, and Talal Al Dhiyebi, Group Chief Executive Officer of Aldar, executed the partnership documents.

    Strategic Locations and Community Design

    The new communities will be developed at Muwaylih, Mussafah, Al Zahiya, and Al Faya, combining residential, retail, educational, and lifestyle offerings within walkable neighborhoods featuring green public spaces and connectivity to Abu Dhabi’s transport networks.

    The collaboration directly supports the emirate’s urban development and housing priorities, including the expansion of the Value Housing Program, a DMT-led initiative increasing access to high-quality, affordable rental housing in Abu Dhabi.

    “This strategic partnership marks an important step in shaping Abu Dhabi’s next phase of urban growth. As the emirate continues to attract residents, businesses and investment, there is a growing need for thoughtfully planned destinations that expand housing choice across multiple market segments while enhancing quality of life,” said Talal Al Dhiyebi, Group Chief Executive Officer of Aldar.

    Al Dhiyebi emphasized that the scale and breadth of these projects reflect Aldar’s strong conviction in the long-term fundamentals of Abu Dhabi’s real estate market and continued confidence in the emirate’s economic growth trajectory.

    Value Housing Program Expansion

    The partnership marks a significant expansion of the Value Housing Program, building on a recently announced commitment to develop two integrated communities in Mohamed Bin Zayed City and Baniyas that will deliver 9,000 residential units to Abu Dhabi’s rental market.

    These communities are designed to offer walkable neighborhoods, green public spaces, schools, retail and gathering places, connected to the wider city and built around the lifestyle needs of residents. Strategically located along major road networks, each destination will offer seamless connectivity across Abu Dhabi while fostering a strong sense of place and belonging.

    “This partnership with Aldar represents a new model for Abu Dhabi’s urban development, one that brings together strategic master planning, private-sector execution capability and government oversight to deliver transformational growth,” said His Excellency Abdulla Mohamed Al Blooshi, Director General of the Urban Planning and Permits Centre at DMT.

    Al Mihsinah Island Activation

    In a landmark announcement, Aldar and DMT revealed plans to activate Al Mihsinah Island for the first time, creating a waterfront community that combines natural coastal surroundings with thoughtfully planned residential neighborhoods and lifestyle amenities.

    The development will offer a living experience that blends wellness, tranquility and connectivity within a waterfront setting, representing a new benchmark for coastal community development in the capital.

    New Model for Urban Development

    The agreement represents a new model for urban development in the emirate, aligning housing accessibility, community building and long-term economic growth within a single, coordinated framework. DMT contributes land while Aldar serves as master developer, combining public-sector land stewardship with private-sector development expertise.

    The partnership is a direct expression of Abu Dhabi’s urban development strategy, placing integrated community planning, housing accessibility and long-term liveability at its core. Aldar will draw on its extensive expertise in delivering iconic destinations such as Saadiyat Island, Yas Island and Al Raha Beach.

    The announcement comes as Abu Dhabi’s residential market continues to demonstrate strong momentum, with transaction volumes remaining elevated and investor confidence sustained by the emirate’s robust economic fundamentals and strategic infrastructure investments.

  • Aldar Unveils Exclusive Baccarat Residences in Saadiyat Cultural District

    Aldar Unveils Exclusive Baccarat Residences in Saadiyat Cultural District

    Abu Dhabi’s real estate landscape welcomes a new pinnacle of luxury with the launch of Baccarat Residences Saadiyat, a prestigious development by Aldar that combines architectural excellence, cultural significance, and unparalleled design.

    Situated in the renowned Saadiyat Cultural District, the project comprises 77 exclusive homes, including two- and three-bedroom residences, four-bedroom sky villas, and two signature penthouses. The development marks the UAE residential debut of internationally acclaimed Sou Fujimoto Architects, whose design draws inspiration from the natural rhythm of Saadiyat Island’s shoreline.

    The residences offer panoramic views of iconic cultural landmarks, including the Guggenheim Abu Dhabi, Louvre Abu Dhabi, and the Arabian Sea. Each home integrates Baccarat’s 262-year heritage through subtle crystal detailing and a refined interpretation of the brand’s art de vivre philosophy.

    “Baccarat Residences are designed for those who seek more than a home — they are designed for a life immersed in culture, beauty, and luxury,” said Raul Leal, CEO of Starwood Hotels.

    The development offers exclusive amenities, including a private residents-only spa, wellness centre, state-of-the-art fitness suite, and an outdoor infinity pool. Additional services include 24-hour concierge, valet, and priority access to Baccarat events.

    Located in the final phase of Saadiyat Grove district, residents will enjoy proximity to pristine beaches, Saadiyat Beach Golf Club, and leading educational institutions like NYU Abu Dhabi and Berklee Abu Dhabi.

    This launch reinforces Abu Dhabi’s position as a global destination for luxury lifestyle, offering discerning buyers an opportunity to own a piece of an extraordinary cultural and architectural narrative.