Aldar Properties (ALDAR) Q4 2025 earnings summary

Executive summary

• Revenue rose 47% year-over-year to AED 33.8 billion, with EBITDA up 46% to AED 11.2 billion and net profit after tax reaching a record AED 8.8 billion, up 36% year-over-year.

• Group sales hit an all-time high of AED 40.6 billion, up 21%, driven by strong demand, 11 successful launches in the U.A.E., and robust international contributions.

• Diversification across asset classes and geographies, including expansion in Dubai, Egypt, and the U.K., underpinned growth.

• Strategic partnerships and JVs, notably with Mubadala and Dubai Holding, expanded the development pipeline and recurring income base.

• Assets under management grew to AED 49 billion, supported by strategic M&A activity totaling AED 3.3 billion.

Financial highlights

• Group revenue: AED 33.8 billion (+47% YoY); EBITDA: AED 11.2 billion (+46% YoY); Net profit: AED 8.8 billion (+36% YoY).

• Group sales: AED 40.6 billion (+21% YoY); Development EBITDA: AED 7.2 billion (+67% YoY); Backlog: AED 71.7 billion.

• Full-year gross profit reached AED 11.6 billion, up 44% year-over-year.

• Aldar Investment revenue: AED 8.1 billion (+16% YoY); Adjusted EBITDA: AED 3.2 billion (+20% YoY).

• Free cash: AED 14.2 billion; committed undrawn facilities: AED 16.4 billion; total liquidity AED 30.6 billion.

Outlook and guidance

• 2026 group adjusted EBITDA guidance: AED 12.7–13.3 billion; group development sales guidance: AED 45–49 billion; Development EBITDA: AED 9.5–10 billion.

• Development segment gross profit margin guidance (U.A.E.): 37–39%.

• Aldar Investment adjusted EBITDA guidance: AED 3.7–3.9 billion.

• Medium-term (3-year) group adjusted EBITDA CAGR: 25–30%; Development EBITDA CAGR: 30–35%; Investment EBITDA CAGR: 18–20%.

• Focus on disciplined capital deployment, scaling recurring income streams, and leveraging asset management strengths.