Aldar Properties Maintains Profit Amidst UAE Sales Dip in Q3 2026, Revises Handover Target

Aldar Properties achieved higher profits in the third quarter of 2026, even as development sales in the UAE experienced a slowdown. The company's attributable net profit rose by 25.1% to AED 1.91 billion, with revenue increasing by 16.4% to AED 9.35 billion.

However, new development sales saw a 33.3% year-over-year decrease to AED 6.8 billion across the group, with UAE sales specifically dropping from AED 9.1 billion to AED 5.0 billion. This occurred despite the launch of seven new projects during the quarter.

Operational Adjustments

Aldar's management has adjusted its operational outlook, reducing the FY26 handover target from 3,700 units to 2,600 units. This revision is attributed to construction delays, which are expected to push some deliveries into 2027. Despite this, the company has maintained its group adjusted EBITDA guidance between AED 12.3 billion and AED 12.7 billion, and investment adjusted EBITDA guidance between AED 3.7 billion and AED 3.9 billion.

FAB Securities, the research arm of First Abu Dhabi Bank, noted that Aldar's performance was supported by the conversion of existing backlog sales into revenue and consistent income from its investment properties, including malls, offices, and other leased assets. This financial stability from recurring income and existing sales is expected to help offset the impact of the revised handover schedule.