Aldar boosts stake in Aldar Estates to 82.55% after Modon exit
Aldar Properties has strengthened its presence in the real estate services sector by raising its ownership in Aldar Estates to 82.55 per cent.
The move follows the acquisition of Modon Holding’s 17.45 per cent indirect stake, previously held through ADNEC Group, consolidating Aldar’s position as a leading force in property and community management in the UAE.
The acquisition underscores Aldar’s strategy of expanding its recurring income portfolio, balancing large-scale development projects with steady service-driven revenues. Aldar Estates, which serves as the group’s integrated property services arm, has rapidly scaled in recent years to manage a broad spectrum of assets including residential communities, retail centres, commercial properties, and leisure destinations.
In 2024, Aldar Estates generated AED 2.6 billion ($708 million) in revenues and recorded an EBITDA of AED 400 million ($109 million). This growth reflects both rising demand for professional facilities management across the UAE and Aldar’s continued expansion into value-added services that support its core development pipeline.
Aldar Estates now manages more than 155,000 residential units, marking a 15 per cent increase over the past two years.
Alongside this, the platform has doubled its prime retail and commercial gross leasable area (GLA) to reach two million square metres, while maintaining an active contract portfolio worth over AED 3 billion.
The service offerings extend across facilities management, property management, community services, technical operations, and sustainability consulting. This breadth of expertise positions Aldar Estates as one of the most comprehensive service providers in the region, catering not only to Aldar’s own developments but also to a growing roster of third-party clients.
Strategic rationale
By consolidating its stake, Aldar gains greater flexibility to align Aldar Estates’ long-term strategy with the group’s overall vision. According to Aldar executives, the platform is set to benefit from an accelerating pipeline of residential and commercial projects in Abu Dhabi, as well as the broader UAE market.
The transaction, however, does not include Modon’s own standalone property and facilities management arm, which will continue to operate independently under Modon Communities. This separation ensures that Aldar Estates remains focused on scaling its operations in line with Aldar’s investment and development priorities.
With full operational control, Aldar is expected to continue building on Aldar Estates’ capabilities, leveraging technology, sustainability initiatives, and best-in-class service delivery to meet rising demand. The business is strategically positioned to grow in tandem with Abu Dhabi’s robust real estate sector, which is experiencing record levels of sales and launches amid strong demand from both local and international investors.
Aldar’s increased stake in Aldar Estates reflects its confidence in the long-term value of integrated real estate services. By coupling development with professional property and facilities management, Aldar strengthens its role in shaping Abu Dhabi’s built environment while delivering recurring revenue streams that support shareholder value.
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