Aldar Strengthens Position By Increasing Stake In Aldar Estates To 82.55%

Aldar has strengthened its presence in the Aldar Estates platform by acquiring Modon Holding’s 17.45% indirect stake, bringing its ownership to 82.55%. This acquisition was made through ADNEC Group, a wholly owned subsidiary of Modon Holding. Aldar Estates is now the largest integrated real estate services company in the region, with active contracts exceeding AED3 billion.

In 2024, Aldar Estates reported revenue growth to AED2.6 billion and an EBITDA of AED400 million. This growth aligns with Aldar's strategy to expand its diversified recurring income streams. The business manages over 155,000 residential units, marking a 15 percent increase over two years. Additionally, it has doubled its prime retail and commercial leasable space to two million square metres during the same period.

Aldar Estates' expansion is driven by strategic acquisitions and organic growth. The company has significantly increased its scale and capabilities in areas such as landscaping, security, technical services, sustainability consulting, and community management. In late 2023, the acquisition of FAB Properties further expanded its client base and service offerings.

The platform plays a crucial role within Aldar Investment's diverse portfolio, which includes AED47 billion worth of income-generating assets. Jassem Salah Busaibe, CEO of Aldar Investment, stated that "Aldar Estates is on a strong growth trajectory," supported by rising demand for facilities management and property management services.

Aldar Estates is well-positioned to seize new opportunities in the real estate services market. The company's growth is bolstered by Aldar's development pipeline and an expanding portfolio of investment properties. A growing base of third-party clients also supports this expansion.

Busaibe highlighted that the business aims to deliver long-term value to communities, clients, and shareholders. He noted that Aldar Estates benefits from an increasing demand for community services alongside property management solutions.

The company's strategic focus on scaling diversified income streams ensures it remains competitive in the evolving real estate landscape. With continued investments in various service areas, Aldar Estates is set to maintain its leadership position while exploring new avenues for growth.

With inputs from WAM