UAE’s Aldar Sees 47% Profit Surge in 2024

Aldar Properties Records 47% Profit Growth in 2024, Revenue Soars 62%

February 11, 2025

Abu Dhabi: Aldar Properties’ net profit after tax increased by 47% year-on-year (YoY) to AED 6.50 billion in 2024, up from AED 4.41 billion.

According to the financial results, revenue increased by 62% to AED 22.99 billion for the year ended December 2024.

Basic and diluted earnings per share (EPS) increased from AED 0.48 in 2023 to AED 0.69 last year.

Mohammed Khalifa Al Mubarak, Chairman of Aldar Group, said: “Aldar Group sales increased by 20% to AED 33.60 billion, largely driven by exceptional demand for our residential developments in key UAE destinations.”

Aldar will make history in 2025 when it delivers its first residential and retail ideas in the Saadiyat Cultural District, further solidifying Abu Dhabi’s standing as a world center of art and culture, Al Mubarak stated.

Talal Al Dhiyebi, Group CEO of Aldar, noted: “Group sales have more than doubled during this period, while our development revenue balance has tripled to AED 55 billion. At the same time, the value of our investment property portfolio has grown significantly to AED 42 billion.”

The company’s net profit after tax increased by 52% to AED 4.57 billion at the end of September 2024, up from AED 3 billion a year earlier.