Al Dar Properties · ADX:ALDAR
Al Dar Properties — Investor Presentation (March 2025)
64 slides from Al Dar Properties's investor presentation, March 2025
Slide 1: Investor Presentation
INVESTOR PRESENTATION Aldar Properties March 2025
Slide 2: Aldar Properties Overview
ALDAR PROPERTIES OVERVIEW Aldar Properties Investor Presentation March 2025
Slide 3: 20 Years of History & Experience
20 YEARS OF HISTORY & EXPERIENCE Enabling us to mobilise, optimise and provide exceptional services in the real estate market Significant Milestones 2005 2013 2018 2020 2021 2022 2023 2024 Aldar Properties Sorouh Real Estate Launched established as New JV with Expo City merger residential sales Abu
Slide 4: Aldar Properties Diversified Business Model
ALDAR PROPERTIES DIVERSIFIED BUSINESS MODEL1 (31 DEC 2024) Leading real estate developer, operator and asset manager with two core businesses: Aldar Development & Aldar Investment Revenue AED 23.0bn MSCI Index BBB Market Cap AED 60.4bn EBITDA AED 7.7bn DJSI 61 Moody’s Credit Rating Baa2 Net Profit A
Slide 5: Strong Execution on Growth & Expansion Strategy
STRONG EXECUTION ON GROWTH & EXPANSION STRATEGY An Abu Dhabi based company, leveraging the strengths of its 2020 operating model, delivering an elevated platform in terms of scale, efficiencies and diversification in 2024 AED bn 2020 2024 4 -yr CAGR Market Cap 24.8 60.4 ~2.4x 25% 4-yr TSR 178% Reven
Slide 6: FY 2024 Group Financial Highlights
FY 2024 GROUP FINANCIAL HIGHLIGHTS Sustained growth driven by record development performance and enlarged investment properties portfolio (AED mn) Q4 24 Q4 23 Var FY 24 FY 23 Var Revenue 6,498 4,398 48% 22,998 14,161 62% Gross profit 2,369 1,580 50% 8,045 5,573 44% Margin (%) 36% 36% 54bps 35% 39% -
Slide 7: Strong Group Financial Performance
STRONG GROUP FINANCIAL PERFORMANCE Poised for growth through strategic deployment of surplus capital into new asset classes and geographies Revenue (AED bn) Net profit after tax (AED bn) 23.0 6.5 14.2 11.2 4.4 8.6 +62% 3.1 8.4 7.1 YoY 2.3 +47% 1.9 1.9 YoY 2019 2020 2021 2022 2023 2024 2019 2020 2021
Slide 8: Aldar Development
ALDAR DEVELOPMENT Strong performance in 2024 driven by successful new launches and robust sales of existing inventory Group Sales (AED bn) +20% Revenue (AED bn) +90% EBITDA (AED bn) +75% 4.3 33.6 15.7 0.2 27.9 1.7 5.3 3.6 2.5 8.3 14.4 7.0 0.2 1.3 1.5 4.1 +17% 14.0 +83% 7.2 3.4 24.3 UAE 28.3 3.9 3.9
Slide 9: Aldar Investment (1/2)
ALDAR INVESTMENT (1/2) Strong Adj. EBITDA growth in 2024 driven by organic operational performance, expansion of Aldar Estates and prior year acquisitions 1 Revenue (AED mn) FY 2024 - Key Highlights +21% 6,979 Commercial 5,759 • Al Maryah Tower operational • Acquisition 6 Falak, DIC, Dubai 4,120 40
Slide 10: Aldar Investment (2/2)
ALDAR INVESTMENT (2/2) 2023 acquisitions contributing towards portfolio growth Investment Properties Hospitality & Leisure Education Aldar Estates1 Occupancy 95% Occupancy 73% 31 Schools Property Management Commercial 98% 12 Operated schools Facilities Management Residential 99% ADR AED 659 (+5% YoY
Slide 11: Robust Group Balance Sheet Supporting Growth
ROBUST GROUP BALANCE SHEET SUPPORTING GROWTH 2 Robust Group liquidity of AED 18.6bn 31 Dec 24 31 Dec 23 (AED mn) Outstanding Debt (AED bn) Available liquidity (AED bn) Debt 16,386 12,079 Cash 15,136 11,718 Committed Public debt undrawn bank Total Equity 42,796 38,183 2 FY 24 6.9 facilities FY 24 Gro
Slide 12: Transparent Dividend and Leverage Policies
TRANSPARENT DIVIDEND AND LEVERAGE POLICIES Consistently applied dividend and leverage policies demonstrate strong governance and financial discipline Shareholder Returns Balance Sheet • 1yr & 4yr TSRs of 48% and 178%, respectively4 • Robust balance sheet with debt well within stipulated LTV policies
Slide 13: Strategy & Guidance
STRATEGY & GUIDANCE Aldar Properties Investor Presentation March 2025
Slide 14: 2030 Strategy Map
2030 STRATEGY MAP Aldar Investor Presentation 14
Slide 15: Aldar Group Vision 2030
ALDAR GROUP VISION 2030 Become the regional real estate champion that creates signature experiences to our customers and sustainable value to our shareholders Vision Regional EBITDA Sustainability Net Profit1 Employer development : recurring (incl. PMS) Top Champion AED 20bn+ of Choice Targeting 50:
Slide 16: Core Business Growth Drivers
CORE BUSINESS GROWTH DRIVERS Growth driven by UAE, core real estate recurring income portfolio expansion & growing platforms Aldar Development Aldar Investment ▪ Become leading destination builder providing signature experiences to ▪ Disciplined expansion of core real estate portfolio (Commercial, R
Slide 17: Short & Medium Term Guidance
SHORT & MEDIUM TERM GUIDANCE 2025 guidance and 3-year medium term guidance versus 2024 FY 24 FY 25 FY 27 (Base) (1yr Guidance) (3yr Guidance) Aldar Properties EBITDA AED 7.7bn AED 10.4 to 10.8bn +25% to 30% 3yr CAGR Deployment(M&A) AED 2.3bn AED 3 to 4bn AED 9 to 12bn over 3 yrs Capex (D-Hold) AED 2
Slide 18: Aldar Development
ALDAR DEVELOPMENT Aldar Properties Investor Presentation March 2025
Slide 19: Aldar Development Q4/FY 2024 Financial Performance
Aldar Development Project Management Property Dev & Sales International Services ALDAR DEVELOPMENT Q4/FY 2024 FINANCIAL PERFORMANCE AED mn Q4 24 Q4 23 QoQ FY 24 FY 23 YoY AED mn Q4 24 Q4 23 QoQ FY 24 FY 23 YoY Group Sales 9,617 8,536 13% 33,572 27,931 20% UAE 8,081 7,241 12% 28,313 24,281 17% Intern
Slide 20: UAE Landbank Overview
Aldar Development Project Management Property Dev & Sales International Services UAE LANDBANK OVERVIEW Landbank is spread across key investment zones in Abu Dhabi, Dubai and Ras Al Khaimah Landbank1 Locations Destinations Saadiyat Island Land Area 0.6mn sqm Abu Dhabi2 GFA 1.5mn sqm 61.8mn sqm Land A
Slide 21: UAE Landbank Overview (2/2)
Aldar Development Project Management Property Dev & Sales International Services UAE LANDBANK OVERVIEW (2/2) 1 GFA has not been assigned to all landbank 2 GFA assigned only to Al Ghadeer Aldar Investor Presentation 21
Slide 22: UAE Development Projects Pipeline
Aldar Development Project Management Property Dev & Sales International Services UAE DEVELOPMENT PROJECTS PIPELINE Projects under construction, as at 31 Dec 20241 Net Sales Revenue Cash to be Launch Launche Sold NSA Avg sale % Completion Project Location Total Units % sold value Area Sold Backlog co
Slide 23: UAE – Abu Dhabi
Aldar Development Project Management Property Dev & Sales International Services UAE – ABU DHABI Aldar Development Al Fahid Island Acquisition in Abu Dhabi ▪ Land value of AED 2.5bn paid over 5 years ▪ Introduction of unique beachfront offering in Abu Dhabi ▪ 3.4mn sqm island between Yas Island and
Slide 24: UAE - Dubai
Aldar Development Project Management Property Dev & Sales International Services UAE - DUBAI Aldar Development JV with Dubai Holding, Dubai ▪ Partnership with Dubai Holding in February 2023 to further extend the 1st masterplan “Haven” growing portfolio and diversified offering Offering a total of 2,
Slide 25: UAE – Ras Al Khaimah
Aldar Development Project Management Property Dev & Sales International Services UAE – RAS AL KHAIMAH Aldar Development Nikki Beach Rosso Bay Residences Residences ▪ Partnership between ▪ 3 residential buildings Aldar & Nikki Beach Group ▪ 3 branded residential buildings ▪ On Marjan Island ▪ Between
Slide 26: Aldar Projects
Aldar Development Project Management Property Dev & Sales International Services ALDAR PROJECTS1 Aldar Projects backlog of AED 91bn Project Management Backlog Progression (AED bn) 19 91 26 82 1 79 78 1 76 0 65 (3) (3) (3) 41 62 61 2 2 59 22 (4) (3) 50 (3) 51 45 (3) 31 27 26 28 (4) 79 79 76 76 75 75
Slide 27: Egypt – SODIC
Aldar Development Project Management Property Dev & Sales International Services EGYPT – SODIC1 Sales performance remains strong despite FX movements Sales (EGP mn) Revenue (EGP mn) 9,893 8,648 48,987 7,648 6,922 29,808 20,971 11,205 FY 21 FY 22 FY 23 FY 24 FY 21 FY 22 FY 23 FY 24 Units sold Landban
Slide 28: UK - London Square (1/3) - Overview
Aldar Development Project Management Property Dev & Sales International Services UK - LONDON SQUARE ( 1/3) - OVERVIEW Premier and leading residential developer in the UK Core ‘build-to-sell’, higher margin offering, developing homes across Greater London (and the Southeast) for sale to private indiv
Slide 29: UK - London Square (2/3)
Aldar Development Project Management Property Dev & Sales International Services UK - LONDON SQUARE ( 2/3) Acquired 13 sites YTD; adding GBP 2.4bn+ GDV to BTS & BTR pipeline Aldar Investor Presentation 29
Slide 30: UK - London Square (3/3)
Aldar Development Project Management Property Dev & Sales International Services UK - LONDON SQUARE ( 3/3) Acquired 13 sites in 2024; adding GBP 2.4bn+ GDV to BTS & BTR pipeline 1. Wyvil Road, Vauxhall (Zone 1) 7. Woolwich Central, Greenwich (Zone 4) o Redevelopment of existing office & warehouse bu
Slide 31: Aldar Investment
ALDAR INVESTMENT Aldar Properties Investor Presentation March 2025
Slide 32: Aldar Investment Q4/FY 2024 Financial Performance
Aldar Investment Investment Properties Hospitality & Leisure Aldar Education Aldar Estates Others ALDAR INVESTMENT Q4/FY 2024 FINANCIAL PERFORMANCE AED mn Q4 24 Q4 23 QoQ FY 24 FY 23 YoY AED mn Q4 24 Q4 23 QoQ FY 24 FY 23 YoY Recurring Revenue1 2,013 1,754 15% 6,979 5,759 21% Adj. EBITDA1,2 713 635
Slide 33: Investment Properties Overview
Aldar Investment Investment Properties Hospitality & Leisure Aldar Education Aldar Estates Others INVESTMENT PROPERTIES OVERVIEW1 95% occupancy across the portfolio Commercial Residential Retail Logistics No. of assets 14 3 13 36 3 Leasable area (‘000 sqm) 469 800 520 240 Occupancy 98% 99% 90%4 89%
Slide 34: Investment Properties - Apollo Transaction
Aldar Investment Investment Properties Hospitality & Leisure Aldar Education Aldar Estates Others INVESTMENT PROPERTIES - APOLLO TRANSACTION In January 2025, Aldar reinforced its long-term partnership with Apollo through a private placement of US$500 million in subordinated hybrid notes US$ 1.4BN OF
Slide 35: Investment Properties (1/4) – Commercial
Aldar Investment Investment Properties Hospitality & Leisure Aldar Education Aldar Estates Others INVESTMENT PROPERTIES (1/4) – COMMERCIAL 1 2022 2023 2024 2025 2026 2027 2028 Acquisition Acquisition D-Hold D-Hold D-Hold H2 2022 H2 2027 H1 2024 H1 2025 H1 2028 Abu Dhabi, Al Maryah Island Abu Dhabi,
Slide 36: Investment Properties (2/4) – Residential
Aldar Investment Investment Properties Hospitality & Leisure Aldar Education Aldar Estates Others INVESTMENT PROPERTIES (2/4) – RESIDENTIAL 1 2022 2023 2024 2025 2026 2027-2028 Acquisition H2 2023 RAK Staff accommodations GLA 14k sqm Acquisition D-Hold Strata Sale Program2 H1 2025 H1 2028 Abu Dhabi
Slide 37: Investment Properties (3/4) – Retail
Aldar Investment Investment Properties Hospitality & Leisure Aldar Education Aldar Estates Others INVESTMENT PROPERTIES (3/4) – RETAIL1 2022 2023 2024 2025 2026 2027-2028 Redevelopment H1 2024 Redevelopment D-Hold D-Hold D-Hold D-Hold H1 2022 H1 2025 RAK H2 2026 H1 2028 Abu Dhabi, Yas Island Abu Dha
Slide 38: Investment Properties (4/4) – Logistics
Aldar Investment Investment Properties Hospitality & Leisure Aldar Education Aldar Estates Others INVESTMENT PROPERTIES (4/4) – LOGISTICS 1 2022 2023 2024 2025-2026 2027 Acquisition Acquisition D-Hold D-Hold D-Hold D-Hold H2 2024 H2 2025 H1 2026 H1 2027 H1 2022 H2 2023 Abu Dhabi Dubai Abu Dhabi Duba
Slide 39: Hospitality & Leisure (1/2)
Aldar Investment Investment Properties Hospitality & Leisure Aldar Education Aldar Estates Others HOSPITALITY & LEISURE (1/2) HOTELS GOLF CLUBS LEISURE Hotel portfolio consists of assets from 3 to 5 stars, in Golf portfolio features one of the world’s top 50 golf Leisure portfolio includes beaches,
Slide 40: Hospitality & Leisure (2/2)
Aldar Investment Investment Properties Hospitality & Leisure Aldar Education Aldar Estates Others HOSPITALITY & LEISURE (2/2) Ambitious growth plans - through greenfield, brownfield and acquisitions 2022 2023 2024 2025 2026 2027 Acquisition H2 2025 Transformation H2 2026 Transformation D-Hold 2022 A
Slide 41: Aldar Education (1/2)
Aldar Investment Investment Properties Hospitality & Leisure Aldar Education Aldar Estates Others ALDAR EDUCATION (1/2) 2nd largest private school operator in the UAE Operated Schools Managed Schools • 12 Operated Schools • 19 Managed Schools • +12% enrolment growth YoY, driven by: • -14% enrolment
Slide 42: Aldar Education (2/2)
Aldar Investment Investment Properties Hospitality & Leisure Aldar Education Aldar Estates Others ALDAR EDUCATION (2/2) Ambitious growth plans - through greenfield, brownfield and acquisitions 2022 2023 2024 2025 2026 2027 Acquisition Acquisition Green Field Green Field AY2024/2025 2023 AY2025/2026
Slide 43: Aldar Estates (1/2)
Aldar Investment Investment Properties Hospitality & Leisure Aldar Education Aldar Estates Others ALDAR ESTATES1 (1/2) Established in 2023 , Aldar Estates represents series of strategic mergers and acquisitions that led to creation of the region's leading integrated property and facilities managemen
Slide 44: Aldar Estates (2/2)
Aldar Investment Investment Properties Hospitality & Leisure Aldar Education Aldar Estates Others ALDAR ESTATES1 (2/2) 2022 2023 2024 2025 2026 2027 Acquisition Merger H2 2022 H2 2023 Abu Dhabi Abu Dhabi Spark Security & other Eltizam Asset Management Group Acquisition H2 2023 Abu Dhabi FAB Properti
Slide 45: Europe - Investment in European Private Real Estate Credit
Aldar Investment Investment Properties Hospitality & Leisure Aldar Education Aldar Estates Others EUROPE - INVESTMENT IN EUROPEAN PRIVATE REAL ESTATE CREDIT Strategic partners form a USD 1 billion private credit platform, which will invest in senior secured debt across diverse real estate segments i
Slide 46: Sustainability
SUSTAINABILITY Aldar Properties Investor Presentation March 2025
Slide 47: Aldar Sustainability Strategic Framework & ESG Ratings
ALDAR SUSTAINABILITY STRATEGIC FRAMEWORK & ESG RATINGS Sustainability Purpose Shaping a Better Future We aim to create a business culture where sustainability is at the heart of everything we do, and where the concept of sustainability informs the way we operate, collaborate, innovate and grow. Sust
Slide 48: FY 2024 Sustainability & Community Outreach Highlights
FY 2024 SUSTAINABILITY & COMMUNITY OUTREACH HIGHLIGHTS CREATING SUSTAINABLE PLACES ▪ Achieved 4% decrease in energy consumption (2024) for existing asset portfolio (year-on-year) ▪ Achieved 7% reduction in water consumption (2024) for existing asset portfolio (year-on-year) ▪ Achieved 32% improvemen
Slide 49: Eight Levers to Decarbonise
Eight Levers to Decarbonise Scope 1 emissions are direct emissions from owned or controlled sources Scope 2 emissions are indirect emissions from the generation of purchased energy Scope 3 emissions are all indirect emissions (not included in scope 2) that occur in the value chain of the reporting c
Slide 50: Capital Deployment
CAPITAL DEPLOYMENT Aldar Properties Investor Presentation March 2025
Slide 51: 2022 Capital Deployed
2022 CAPITAL DEPLOYED c. AED 11.5bn of capital deployed Aldar Development (c. AED 4.1bn) Aldar Investment (c. AED 7.4bn) Transaction Value (AED mn) Transaction Value (AED mn) Acquisition of 6.2m sqm prime land located on 3,6801 Commercial the east side of Saadiyat Island 4 Grade-A commercial buildin
Slide 52: 2023 Capital Deployed or Committed
2023 CAPITAL DEPLOYED OR COMMITTED c. AED 9bn of capital deployed or committed Aldar Development (c. AED 5.9bn) Aldar Investment (c. AED 3.1bn) Transaction Value (AED mn) Transaction Value (AED mn) Al Fahid land acquisition of 3.4m sqm island between Yas Residential: RAK Staff Accommodation acquisit
Slide 53: 2024 Capital Deployed
2024 CAPITAL DEPLOYED c. AED 4.4bn of capital deployed Aldar Development (c. AED 1.9bn) Aldar Investment (c. AED 2.3bn) Transaction Value (AED mn) Transaction Value (AED mn) Commercial: 6 Falak acquisition 255 International Land acquisitions, UK 1,900 Investment Commercial & Residential: Masdar asse
Slide 54: Develop-to-Hold
DEVELOP- TO-HOLD Aldar Properties Investor Presentation March 2025
Slide 55: AED 13.3 Billion D-Hold Pipeline
AED 13.3 BILLION D-HOLD PIPELINE1,2 2025 2026 2027 2028 H1 2025 Commercial H1 2026 Logistics H1 2027 Logistics H1 2028 Commercial Abu Dhabi, Yas Island Abu Dhabi Dubai, Jebel Ali, NIP Dubai, Expo City3 Retail Yas Place Business Hub expansion Logistics Park – two modular buildings 5 mixed-use buildin
Slide 56: D-Hold Capex
D-HOLD CAPEX AED 11.5bn total capex phased over 2024 – 2029 for AED 13.3bn D-Hold pipeline Aldar 1 Segment Project Location Target Completion GLA (sqm) GDV (AED mn) Ownership Yas Place Abu Dhabi, Yas Island H1 2025 100% 25,000 370 Saadiyat Business Park Abu Dhabi, Saadiyat Island H2 2027 100% 25,000
Slide 57: 2024 Masdar JVs
2024 MASDAR JVS Aldar Properties Investor Presentation March 2025
Slide 58: Mubadala JV: Masdar City, Abu Dhabi – Asset Acquisitions (1/3)
MUBADALA JV: MASDAR CITY, ABU DHABI – ASSET ACQUISITIONS (1/3) JV Details Scales Aldar Investment Portfolio (AIP) by ~12% to AED 29.0bn GAV Own & manage 17 income-generating assets in free zone - Masdar City, Abu AIP Portfolio Dhabi GAV (AED mn) NOI (AED mn) Adj. EBITDA (AED mn) o/w 14 within Masdar
Slide 59: Mubadala JV: Masdar City, Abu Dhabi – Asset Acquisitions (2/3)
MUBADALA JV: MASDAR CITY, ABU DHABI – ASSET ACQUISITIONS (2/3) JV Details Commercial Assets Own & manage 17 income-generating assets in free zone - Masdar City, Abu Dhabi o/w 14 within Masdar Green REIT (MGR REIT) ➢ 9 commercial LEED Gold or LEED certified GAV AED 1.5bn; GLA 88k sqm; 98% occupancy ➢
Slide 60: Mubadala JV: Masdar City, Abu Dhabi – Asset Acquisitions (3/3)
MUBADALA JV: MASDAR CITY, ABU DHABI – ASSET ACQUISITIONS (3/3) JV Details Residential Assets Own & manage 17 income-generating assets in free zone - Masdar City, Abu Dhabi Eco Residence I o/w 14 within Masdar Green REIT (MGR REIT) ➢ 3 residential LEED Gold or LEED certified 1 GAV AED 1.3bn; GLA 127
Slide 61: Mubadala JV: Logistics and Development
MUBADALA JV: LOGISTICS AND DEVELOPMENT Logistics Park & Development strategically located islands LOGISTICS – Development of Logistics Park JV Details ▪ Develop Grade A logistics park in Al Falah, Abu Dhabi ▪ Close proximity to Zayed International Airport; along E11 Aldar : 60% linking Abu Dhabi & D
Slide 62: Mubadala JV: Creation of Premium Retail Platform in Abu Dhabi
MUBADALA JV: CREATION OF PREMIUM RETAIL PLATFORM IN ABU DHABI Creation of premium retail platform in Abu Dhabi JV Details ▪ Each partner contributes key Abu Dhabi retail assets forming premium retail platform of 260k sqm GLA ▪ Underpins Aldar as Abu Dhabi’s retail champion and landlord of choice Ald
Slide 63: Contact Us
ALDAR INVESTOR PRESENTATION CONTACT US For any further enquiries please contact: Pamela Chahine Head of Investor Relations Tel: +971 (0)2 810 6585 Email: [email protected] Salma Laalej Vice President Tel: +971 (0)2 810 6504 Email: [email protected]
Slide 64: Disclaimer
DISCLAIMER This presentation is intended for information purposes only and does not constitute or form part of an offer for sale or subscription or an invitation or solicitation of an offer to subscribe for or purchase securities of any kind and neither this document nor anything contained herein sh
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