Aldar has consolidated its position in Aldar Estates by raising its ownership to 82.55 per cent, following the acquisition of Modon Holding’s 17.45 per cent indirect stake in the business, held through its wholly owned subsidiary ADNEC Group.
Through strategic acquisitions and organic growth, Aldar Estates has become the region’s largest integrated real estate services company, with more than AED3bn ($817m) worth of active contracts.
The platform manages more than 155,000 residential units, marking a 15 per cent increase over the past two years, while also doubling its prime retail and commercial leasable space to two million square metres in the same period.
Aldar Estates
In 2024, Aldar Estates reported AED2.6bn ($708m) in revenue and EBITDA of AED400m ($109m), significantly contributing to Aldar’s strategy of scaling diversified recurring income streams.
Jassem Salah Busaibe, CEO 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 sits within the Aldar Investment platform, which manages a AED47bn ($12.8bn) portfolio of income-generating assets.
Recent acquisitions have added scale and capabilities in landscaping, security, technical services, sustainability consulting, and community management.
In late 2023, Aldar Estates also acquired FAB Properties, substantially broadening its client base and service offering.
