Aldar Reports 25% Q3 Net Profit Jump, Announces Dubai Project Launch and Sharjah Expansion
Abu Dhabi's largest listed developer, Aldar Properties, reported a 25% increase in net profit for Q3, reaching AED 1.9 billion, driven by new project launches and revenue growth.
Aldar Properties, Abu Dhabi's leading listed developer, announced a 25 per cent year-on-year increase in net profit for the third quarter, reaching AED 1.9 billion (USD 517.3 million) for the period ending September. The company's revenue and rental income also saw a significant rise, growing by 16.4 per cent to AED 9.3 billion.
The profit surge comes amidst an active expansion strategy for Aldar across the UAE. This includes a recent agreement to acquire over 1,100 homes in Sharjah from Arada for AED 1.1 billion, marking Aldar's first investment in the emirate. This acquisition covers nine buildings within three residential blocks at Arada’s Aljada development, with delivery projected for the fourth quarter of 2029.
This Sharjah deal follows a AED 15 billion development partnership announced last month between Aldar and Arada, focusing on new projects near the Abu Dhabi-Dubai border.
Looking ahead, Aldar Development's CEO, Jonathan Emery, confirmed plans to launch a major new development featuring villas and townhouses in Dubai by the end of this year, further solidifying the company's nationwide growth strategy.
Questions, answered
- What was Aldar Properties' net profit for Q3?
- Aldar Properties reported a net profit of **AED 1.9 billion** (USD 517.3 million) for the third quarter of this year, representing a 25% increase year-on-year.
- What is Aldar's latest investment in Sharjah?
- Aldar has agreed to acquire more than **1,100 homes** within Arada's Aljada development in Sharjah for **AED 1.1 billion**. The deal covers nine buildings across three residential blocks, with expected delivery in Q4 2029.
- What are Aldar's plans for Dubai?
- Aldar plans to launch a **major development of villas and townhouses in Dubai** by the end of this year, as part of its broader expansion strategy across the UAE.
- How much did Aldar's revenue and rental income increase in Q3?
- Aldar's revenue and rental income for the third quarter increased by **16.4 per cent year-on-year**, reaching **AED 9.3 billion**.
This brief was summarised and rewritten by Gaia Living from public reporting. Figures and details reflect the original sources.
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