Key results for the company during the first quarter of 2026

• Net profit after tax rose 20% year-on-year to AED 2.3 billion, driven by revenues from ongoing development projects and the resilience of a diversified investment property portfolio that is less exposed to market volatility. Earnings per share for the first quarter of 2026 increased by 25% year-on-year to AED 0.25.
• The group recorded sales of AED 6.7 billion during the first quarter, of which sales of its projects in the UAE contributed about AED 5.9 billion, with the launch of two new projects in the country at the beginning of the first quarter, namely The Wilds Residences in Dubai and the Baccarat Residences Saadiyat project in Abu Dhabi.
• The company’s sales in the UAE attracted continued demand from international buyers, with sales to international and resident customers reaching AED 5.3 billion during the first quarter, representing 88% of the company’s total sales in the country.
• The developer launched the Yas Park Place project in mid-April, and 80% of the units offered have been sold to date, achieving sales exceeding AED 800 million, reflecting continued investor confidence in the Abu Dhabi real estate market.
• The cumulative revenue from development projects has increased to AED 72.1 billion, of which AED 62.2 billion is for projects in the UAE, providing a clear view of the group’s revenue over the next three years.
• Aldar boosted its land portfolio in the UAE during the first quarter with a total development value of AED 61 billion, including strategic land plots in key destinations in Abu Dhabi, and the expansion of the joint venture with Dubai Holding.

• Aldar Investment recorded an 18% year-on-year growth in adjusted earnings before interest, taxes, depreciation and amortization to AED 905 million, supported by higher occupancy rates and contributions from strategic acquisition deals, while assets under management rose to AED 52 billion.
• The portfolio of recurring income-generating real estate assets remained resilient, benefiting from long-term leases and growth in the commercial, retail, industrial, and logistics sectors. The acquisitions of The Link in Masdar City and the logistics assets in Kizad further strengthened the investment platform's capabilities.
• The “Develop and Retain” portfolio of projects grew by AED 2.8 billion to reach AED 20.1 billion, through a partnership with the Department of Municipalities and Transport to develop 9,000 rental housing units within the Abu Dhabi Affordable Housing Solutions project.
• The company maintained a strong financial position that supports its flexibility and capital deployment strategy, with total available liquidity amounting to AED 33.2 billion at the end of March, including AED 13.9 billion of available and unrestricted cash and AED 19.4 billion of confirmed and undrawn bank facilities.
• In January, the company completed a public issuance of US$1 billion (AED 3.7 billion) in hybrid bonds, followed in February by a US$1 billion (AED 3.7 billion) hybrid bond issuance for Apollo. In April, it also finalized a AED 5 billion sustainability-linked revolving credit facility, which attracted strong demand from a wide range of regional and international banks.
• In April, the company distributed cash dividends for 2025 of AED 0.205 per share, an increase of 10.8% year-on-year, with total distributions amounting to AED 1.61 billion.

His Excellency Mohamed Khalifa Al Mubarak, Chairman of the Board of Directors of Dar : “We extend our sincere thanks and appreciation to the wise leadership of the UAE for its constant concern for protecting all those who have made the UAE their home, and for its proactive and decisive approach in consolidating stability, supporting businesses, and maintaining a safe environment.

The Emirate of Abu Dhabi continued to demonstrate strong economic fundamentals, underpinned by clear policies, a long-term vision, and sustained investment in vital sectors. The Emirate's resilience, coupled with its established global appeal as a destination to live, work, and invest, provides a solid foundation for continued growth.

The company’s performance in the first quarter reflects the strength of our business model, which has evolved over time to ensure we are in a distinguished position that enables us to face countercyclical pressures and deal wisely and equitably with unexpected external events.

The group achieved strong profit growth, benefiting from the diversification of its platform, which gives it greater flexibility in the face of market fluctuations. Its record portfolio of accumulated revenues from development projects worth AED 72.1 billion, along with its growing and high-quality base of recurring income-generating assets worth AED 52 billion, provides a clear vision for future income generation.

Thanks to our strong liquidity position and high financial flexibility, we are in a prime position to seize future opportunities, and we remain confident in our ability to deliver sustainable, long-term returns for our shareholders.”

Talal Al Dhiyabi, CEO of Aldar Group : “The UAE economy continues to demonstrate strong resilience, supported by decisive leadership and a coordinated policy response, including measures taken to enhance market stability and build confidence. In this environment, Aldar has prioritized the safety of its employees and communities, while maintaining business continuity, and delivered a strong performance in the first quarter.”

During the first quarter, revenues increased by 12% to AED 8.7 billion, and net profit grew by 20% year-on-year to AED 2.3 billion, reflecting our efficiency in executing our plans and the flexibility of our diversified platform.

At Aldar Properties, we continued to translate record accumulated revenues into actual revenue. The fundamentals of demand remain strong, as evidenced by the outstanding results of the recent launch of Yas Park Place. This reinforces our belief that demand remains resilient towards quality projects, underpinned by a structural shortage of real estate supply in Abu Dhabi and strong, long-term economic fundamentals.

Aldar Investment continues to demonstrate its strategic importance as a highly profitable and resilient platform during market volatility, supported by high occupancy rates and long-term leases. We have also achieved growth through recent acquisitions and rising rental rates, and will continue to expand through our strategic 'develop and hold' portfolio, which has grown to AED 20.1 billion.

With our strong balance sheet and solid liquidity position, we will continue to deliver long-term value to our shareholders and the communities we serve.”

Dar for Development

This core unit consists of three main sections: the Real Estate Development and Sales section, which focuses on developing and selling premium real estate projects located in the most desirable locations in the UAE; the Project Management Services section, the group’s specialized arm for managing and executing projects within the group; and the International Business section, which is responsible for overseeing real estate development and sales activities for SODIC in Egypt and London Square in the UK.

• Aldar Development's revenues rose 14% year-on-year to AED 6.5 billion, while earnings before interest, taxes, depreciation and amortization grew 23% to AED 2.2 billion, driven by continued project deliveries from a record-breaking cumulative revenue base.
• The group's sales reached AED 6.7 billion, a 25% year-on-year decrease, reflecting a moderation in sales activity in March and the company's disciplined approach to launching new projects amidst changing market conditions. Customer collections remained strong and in line with contractual schedules, while default rates remained unchanged from their historically low level of approximately 1%, reflecting continued buyer commitment and resilient market demand.
• Sales in geographic markets benefited from the company’s global sales network, which expanded with the addition of two new Dar World Experience Centres in Hong Kong and London, which opened during the first quarter of 2026.
• The group’s cumulative revenues from development projects reached a record high of AED 72.1 billion by the end of March 2026, up from AED 71.7 billion at the end of December, providing a clear view of revenues over the next three years.
• The cumulative value of project management services reached AED 91.6 billion by the end of March 2026, of which AED 66.7 billion was for projects under construction, reflecting the continued strength of government investments in infrastructure and housing projects.

At the level of the United Arab Emirates

• Sales in the UAE declined by 30% year-on-year to AED 5.9 billion, reflecting a slowdown in the pace of new project launches with only two projects launched: The Wilds Residences in Dubai and Baccarat Residences on Saadiyat Island in Abu Dhabi.
• In April, the company launched the Yas Park Place project, which achieved sales exceeding AED 800 million, with 80% of the units sold in the first week alone, confirming the continued confidence of investors in the Abu Dhabi real estate market.
• Sales to international and resident buyers accounted for 88% of total sales in the UAE during the first quarter of 2026, amounting to AED 5.3 billion, reflecting continued strong international demand and growing confidence in Abu Dhabi as a global investment destination.
• The UAE’s accumulated revenues reached a record high of AED 62.2 billion by the end of March 2026, up from AED 61.0 billion by the end of December, with an average collection period of 29 months.
• Total cash collections during the first quarter of 2026 amounted to approximately AED 4.3 billion, reflecting the strong commitment of buyers and their confidence in the company's projects.

At the international level

SODIC

• SODIC’s contribution to Aldar Development’s revenues amounted to AED 116 million (EGP 1.5 billion) during the first quarter of 2026.
• SODIC recorded sales of AED 194 million (EGP 2.9 billion), while SODIC’s accumulated revenues reached AED 7.2 billion (EGP 107.1 billion) by the end of March 2026, with an average collection period of 39 months.

London Square

• London Square's contribution to the developer's revenues amounted to AED 316 million (£64 million).
• London Square recorded sales of AED 576 million (£118 million), driven by the launch of three development projects during the first quarter, including Ransoms Wharf, Wimbledon Bridge House and Westminster Tower.
• London Square's accumulated revenues rose to AED 2.7 billion (£560 million) by the end of March 2026, with an average collection period of 31 months.

Dar Investment

Aldar Investment comprises four main divisions with AED 52 billion in assets under management: Investment Properties, which encompasses Aldar’s core asset management business and includes a portfolio of prime real estate assets across the retail, residential, commercial, industrial, and logistics sectors; Aldar Hospitality, which owns a portfolio of hotels and leisure assets, primarily located in Abu Dhabi and Ras Al Khaimah; Aldar Education, the leading private school operator in Abu Dhabi with 27 schools owned and primarily operated across the UAE; and Aldar Properties, the region’s largest integrated property and facilities management platform.

• Aldar Investment's revenue grew by 14% year-on-year to AED 2.1 billion, while adjusted EBITDA increased by 18% to AED 905 million. This strong performance was underpinned by high occupancy rates, robust rental prices, and the contribution of recent strategic acquisitions. The company's AED 20.1 billion "develop and hold" portfolio is expected to drive further expansion, diversification, and profit growth over the next four years.
• Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) for investment properties rose by 27% year-on-year to AED 632 million, supported by a portfolio occupancy rate of 96%, characterized by long-term rental structures that provide a stable income base.
  • Adjusted EBITDA for commercial real estate increased by 11% year-on-year to AED 235 million, driven by continued demand for prime office space and the contribution of Yas Place, which has been fully occupied since completion. The portfolio has maintained 100% occupancy, benefiting from a diverse tenant base that includes government-related entities, corporations, and major institutions. Leasing activity has been characterized by strong rates recently, with new leases signed at record levels in prime locations such as Abu Dhabi Global Market. The stability of rental income was supported by stable base rents, with many contracts renewed early this year under long-term contractual arrangements and limited renewals during the year. In April, Aldar expanded its partnership with Mubadala through the acquisition of The Link in Masdar City for AED 654 million, adding five fully leased mixed-use buildings to the portfolio.
  • Adjusted EBITDA for the residential portfolio declined by 4% year-on-year to AED 127 million, primarily due to the expiration of a corporate lease and redevelopment work in the eastern mangroves. The portfolio continues to demonstrate a stable underlying performance, supported by a 96% occupancy rate and long-term lease renewals and contracts. Further growth will be driven by the development and retention projects in Al Reeman and Yas Island, along with the recent 9,000-unit partnership with the Department of Municipalities and Transport, which will expand Aldar’s residential portfolio to 20,000 rental units in the coming years.
  • Adjusted EBITDA for the retail portfolio rose 65% year-on-year to AED 228 million, driven by the group’s contributions to the luxury retail project in The Galleria following the completion of the joint venture with Mubadala Retail in the first quarter. This growth was further supported by higher rental rates and occupancy at Yas Mall and Al Jimi Mall, the latter of which has become a prominent retail success story in Al Ain since its redevelopment was completed in September 2025. The retail portfolio occupancy rate remained stable at 89% by the end of the first quarter, with all tenants in key shopping and entertainment destinations remaining active. Visitor numbers also stabilized at near-normal levels after an initial decline in early March.
  • The industrial and logistics portfolio delivered strong growth, with adjusted EBITDA surging 157% year-on-year to AED 43 million, driven by acquisitions of assets in Kizad and the Centre during 2025. This organic income growth was underpinned by a high occupancy rate of 96% at the end of Q1, with long-term leases with logistics operators and growing demand from new sectors further stabilizing the portfolio. In April, Aldar acquired additional logistics assets in Kizad from Abu Dhabi Ports Group for AED 650 million. Future growth will be fueled by the “develop and hold” portfolio, which includes the expansion of Abu Dhabi Business Hub, facilities in Dubai South and National Industries Park in Dubai, as well as bespoke projects such as the Tesla Customer Experience Centre on Yas Island.
• Adjusted EBITDA for the hospitality portfolio rose 6% year-on-year to AED 98 million, driven by strong performance in January and February. Average daily rate (ADR) increased by 24% to AED 849, and revenue per available room (RevPAR) rose by 13% to AED 546 during the quarter. Occupancy stood at 64% in Q1, reflecting a decline in demand in March due to disruptions in regional air travel and international tourism. Corporate event bookings and resilient demand for staycations contributed to the performance. The company is accelerating its hotel strategic transformation program to enhance asset attractiveness and streamline operations, ensuring the portfolio is ready to capitalize on demand once international travel conditions normalize.
• Aldar Education's adjusted EBITDA rose 8% year-on-year to AED 67 million, driven by increased student enrollment and higher tuition fees. The number of students in Aldar-managed schools increased to 18,000, up from 16,000 last year, supported by the opening of Noya British School, Al Yasmina American School, and Al Muna British Academy. This brings the total number of students in Aldar-managed and operated schools to over 36,000.
• Aldar Properties' adjusted profit declined by 3% year-on-year to AED 87 million, due to one-off exceptional effects in its project management, valuation, and consultancy segments. The portfolio continues to operate on a large scale, managing over 145,000 residential units, 2.5 million square meters of commercial and retail space, and contracts exceeding AED 2.7 billion.

Key updates and corporate activities of the group

• The company strengthened its balance sheet, liquidity, and financial flexibility through a series of financing initiatives, including the following:
  • A public issuance of $1 billion (AED 3.7 billion) of secondary hybrid bonds in January.
  • A private placement with Apollo Global Management worth US$1 billion (AED 3.7 billion) in February, which included the redemption of US$500 million in subordinated perpetual bonds, reduced Apollo’s effective ownership in Aldar Properties to 9.7%.
  • A confirmed sustainability-linked revolving credit facility of AED 5 billion in April attracted the participation of 10 prominent local, regional and international banks, including new lenders, reflecting the firm’s strong credit standing.
• Aldar continued to accelerate its digital transformation, focusing on developing its Live Aldar platform to provide a seamless customer experience. Platform usage exceeded 60% during key customer interaction phases, and visits and engagement across its main digital platforms continued to grow significantly each quarter. During the first quarter, the platform handled over 4,300 hospitality bookings and more than 12,700 entertainment activity tickets.
• Membership in the Darana rewards program rose by 184% year-on-year, with a record monthly high of 46,000 new registrations in March.

Our most notable achievements in environmental, social, and governance practices

As one of the UAE’s leading real estate developers, Aldar is committed to implementing the highest international standards in environmental, social, and governance (ESG) practices. These practices are a cornerstone of the group’s long-term growth strategy, with sound governance and responsible environmental and social impact integrated into all its investment operations and business decisions. Aldar’s most recent activities in this area include:

• The organization provided support to more than 138,000 beneficiaries through social impact initiatives during the first quarter, and allocated AED 100 million to the Abu Dhabi Awqaf Authority – Mother of the Emirates Endowment for Orphans, in addition to providing major sponsorship for the ADNOC Abu Dhabi Marathon 2026.
• In April, Yas Mall became the first shopping center in the region to join the “Sunflower” program, which aims to support customers with disabilities, as it seeks to ensure that appropriate support is provided to visitors with invisible disabilities according to their needs.
• During Abu Dhabi Sustainability Week, the company received the Diamond Sustainability Mark from the Abu Dhabi Chamber of Commerce and Industry, the highest level of recognition within the Abu Dhabi Chamber of Commerce and Industry’s inaugural Sustainability Mark program.
• The company exceeded its commitment under the Nafes program to employ 1,000 Emirati citizens by 2026, achieving its goal in early 2025, and Emirati citizens now represent 44% of the group's employee base.

About the House

Aldar is a leading real estate developer, manager, and investor in Abu Dhabi, with a growing presence across the UAE, the Middle East, North Africa, and Europe. The company operates through two main business units: Aldar Development and Aldar Investment.

Aldar Development develops integrated and thriving communities in some of Abu Dhabi, Dubai, and Ras Al Khaimah’s most desirable destinations, leveraging its vast land portfolio of strategically located properties totaling 69 million square meters. Aldar Projects manages the handover of Aldar’s projects and is a key partner of the Abu Dhabi government in delivering residential and infrastructure projects across the emirate. Internationally, Aldar Development wholly owns the British real estate developer London Square and holds a majority stake in Sixth of October Development and Investment Company (SODIC), a leading real estate developer in Egypt.

Aldar Investments comprises the asset management arm of the Aldar Group, which includes a portfolio exceeding AED 52 billion of income-generating investment properties across the retail, residential and commercial communities, logistics, and hospitality sectors. Aldar Investments manages four core platforms: Aldar Investment Real Estate, Aldar Hospitality, Aldar Education, and Aldar Properties.

For more information about Aldar, please visit our website www.aldar.com or our social media pages:

For more information, please contact:

Media communication
Obaid Al-Yamahi
Aldar Properties Group

Investor Relations
Pamela Shahin
Aldar Properties Group

Sarah Abdelbary
Brunswick
aldar@brunswickgroup.com

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