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 UAE, and international expansion.

• The company expanded its footprint in Dubai, the UK, and Egypt, with a record development backlog of AED 71.7 billion, providing strong revenue visibility.

• Strategic partnerships and JVs, including with Mubadala and Dubai Holding, underpin growth and diversification.

• International buyers accounted for 77% of UAE sales, highlighting strong global demand for UAE real estate assets.

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).

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

• Cash collection reached AED 50.4 billion in 2025.

• Free cash at year-end: AED 14.2 billion; committed undrawn facilities: AED 16.4 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.

• 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%.

• Strong revenue visibility supported by record backlog and continued landbank expansion.