Aldar Properties

1. Company Overview & Earnings Context

Aldar Properties reported its Q1 2026 results, delivering a strong performance with solid revenue and profit growth, supported by its diversified real estate platform.

2. Financial Performance Snapshot

• Revenue & rental income: AED 8.73B (+12% YoY)

• Gross profit: AED 3.32B (+19% YoY)

• Profit before tax: AED 2.63B (+20% YoY)

• Net profit after tax: AED 2.29B (+20% YoY)

• EPS: AED 0.254 (vs AED 0.202 YoY)

• Gross margin: ~38% (improved YoY)

• Finance income: AED 240M (up YoY)

3. Operational Highlights & Key Metrics

• Total assets: AED 119.7B

• Investment properties: AED 39.4B (expanded YoY)

• Development work in progress: AED 12.3B

• Plots of land held for sale: AED 10.0B (significant increase)

• Cash & bank balances: AED 21.9B

• Operating cash flow: AED 1.55B

4. Key Performance Drivers

Aldar’s Q1 performance was driven by strong revenue growth across development and recurring income streams, leading to higher gross profit and overall profitability, as seen in the income statement (page 4).

The company benefited from:

• Higher project deliveries and sales activity, boosting revenue

• Expansion in investment properties, supporting recurring income

• Improved operating leverage, reflected in margin expansion

At the same time, higher finance costs and minor revaluation losses partially offset gains, though overall profitability remained strong.

5. Outlook & Forward Guidance

Aldar continues to operate with a strong balance sheet and liquidity position, supported by significant cash reserves and asset growth. The company remains focused on expanding its development pipeline and income-generating assets, while maintaining resilience amid evolving market conditions.

6. 🧾 Investor Takeaway

Aldar delivered strong earnings growth backed by revenue expansion and margin improvement, reinforcing the strength of its diversified real estate model.