Aldar has further consolidated its position in the Aldar Estates platform by increasing its ownership to 82.55 percent following the acquisition of Modon Holding’s 17.45 percent indirect stake in the business (held through its wholly owned subsidiary ADNEC Group).
Through strategic acquisitions and strong organic growth, Aldar Estates has become the region’s largest integrated real estate services company with over Dhs3 billion worth of active contracts.
The platform manages more than 155,000 residential units, which is a 15 per cent increase in the past two years, and has doubled prime retail and commercial leasable space under management to two million sqm in the same period.
In 2024, the business increased revenue to Dhs2.6 billion and EBITDA to Dhs400 million, significantly contributing to Aldar’s strategy of scaling diversified recurring income streams.
Jassem Salah Busaibe, Chief Executive Officer of Aldar Investment, said, “Aldar Estates is on a strong growth trajectory, driven by rising demand for facilities management, property management, and community services. 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.”
Aldar Estates is a key business within the Aldar Investment platform, which manages a diverse Dhs 47 billion portfolio of income-generating assets. A number of acquisitions by Aldar Estates have added significant scale and capabilities, across landscaping, security, technical services, sustainability consulting, and community management. In late 2023, Aldar Estates also acquired FAB Properties substantially broadening the client base and offering.
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