Al Dar Properties · ADX:ALDAR
Al Dar Properties — 9M 2025 Earnings Presentation
50 slides from Al Dar Properties's earnings presentation, Oct 28, 2025
Slide 1: 9M 2025 Results Presentation
9M 2025 RESULTS PRESENTATION Aldar Properties 28 October 2025
Slide 2: 9M 2025 Highlights
9M 2025 HIGHLIGHTS 9M 2025 Results Presentation 28 October 2025
Slide 3: 9M 2025 Executive Summary
9M 2025 EXECUTIVE SUMMARY Group • Cross-platform growth driven by successful new launches and solid inventory sales, Revenue EBITDA Net Profit1 ongoing recognition of development revenue backlog, contributions from recurring income portfolio from both organic and acquisitions AED 23.6bn AED 7.8bn AE
Slide 4: YTD Announcement Highlights
YTD ANNOUNCEMENT HIGHLIGHTS Aldar Development Aldar Investment 3 new launches in Abu Dhabi in Q3; 8 total 9M 2025 launches Commercial Fahid Island, Abu Dhabi Saadiyat Island, Abu Dhabi Acquisition of remaining 40% of Al Maryah Tower for AED 362mn, from • Fahid Beach Residences (Q2) • Manarat Living
Slide 5: Aldar Development (1/2)
ALDAR DEVELOPMENT (1/2) Strong performance in Q3/9M 2025 driven by successful new launches and sales of existing inventory Group Sales (AED bn) Revenue (AED bn) +19% +50% 33.6 27.9 28.5 17.1 5.3 24.0 15.7 3.6 2.0 3.7 1.7 11.4 1.9 14.4 8.3 7.0 1.1 7.2 3.4 24.3 28.3 26.5 3.9 1.3 15.3 20.2 +31% 1.4 14.
Slide 6: Aldar Development (2/2) - UAE
ALDAR DEVELOPMENT (2/2) - UAE Property Development & Sales TOP 5: India USA Sales Demographic, UAE TOP 5: Sales Breakdown RAK, 5% UK Canada China UAE Russia RAK, 12% AED 1.4bn 11% 16% 24% UK AED 3.3bn 10% 28% 26% USA 12% India TOP 5: India Dubai, 29% China UK FY 24 AED 7.8bn 9M 25 TOP 5: 38% 54% 51%
Slide 7: Aldar Investment (1/3)
ALDAR INVESTMENT (1/3) Strong organic growth supported by strategic acquisitions delivering significant contributions Revenue1 (AED mn) Revenue (AED mn) +16% 6,979 287 44 5,761 5,759 4,965 382 18 65 4,120 3,284 +23% +2 +10% +16% FY 21 FY 22 FY 23 FY 24 9M 24 IP H&L Education Estates Others 9M 25 Adj
Slide 8: Aldar Investment (2/3) - Investment Properties
ALDAR INVESTMENT (2/3)- INVESTMENT PROPERTIES Strong Adj. EBITDA growth across all investment properties segments Adj. EBITDA1 (AED mn) Organic Disposals & Divestments Acquisitions & completed D-Hold Investment Properties Commercial Residential +20% +17% +29% +27% +31% +34% excl. disposals & divestm
Slide 9: Aldar Investment (3/3) - H&L, Education & Estates
ALDAR INVESTMENT (3/3) – H&L, EDUCATION & ESTATES Hospitality & Leisure Education Aldar Estates1 Occupancy 69% 27 Schools Property Management 13 Operated schools Facilities Management ADR AED 631 (+8% YoY) 14 Managed schools Integrated Community Services 36k Students Valuation & Advisory RevPAR AED
Slide 10: Robust Group Balance Sheet Supporting Growth
ROBUST GROUP BALANCE SHEET SUPPORTING GROWTH Robust Group liquidity of AED 29.7bn 30 Sept 25 31 Dec 24 (AED mn) Outstanding Debt (AED bn) Available liquidity (AED bn) Debt3 23,693 16,386 Cash 18,367 15,136 Subordinated Bank debt Hybrid Notes 9.9 Total Equity 45,394 42,796 5.5 Gross Debt to Total Ass
Slide 11: Sustainability Framework
SUSTAINABILITY FRAMEWORK Shaping a Better Future To create resilient, inclusive & thriving communities by integrating sustainable practices across all operations CREATING SUSTAINABLE PLACES CREATING SOCIETAL VALUE CREATING RESPONSIBLE LAGACY We are focused on shaping thriving communities Our vision
Slide 12: Sustainability & Community Outreach Highlights
SUSTAINABILITY & COMMUNITY OUTREACH HIGHLIGHTS Latest 2024 Sustainability Report published with updated sustainability framework, detailed commitments & targets, updated Net Zero plan and targets & engagement-based refreshed materiality assessment CREATING SUSTAINABLE PLACES 2025 Targets 9M 2025 Hig
Slide 13: 2025 Guidance
2025 GUIDANCE On track to deliver on upper end of FY 2025 guidance; no change to guidance FY 24 9M 25 FY 25 (Actual) (Actual) (1yr Guidance) Aldar Properties EBITDA AED 7.7bn AED 7.8bn AED 10.4 to 10.8bn Deployment(M&A) AED 2.3bn AED 2.3bn1 AED 3 to 4bn Capex (D-Hold) AED 2.3bn AED 1.7bn2 AED 3 to 4
Slide 14: Q&A
Q&A 9M 2025 Results Presentation 28 October 2025
Slide 15: Group
GROUP 9M 2025 Results Presentation 28 October 2025
Slide 16: 9M 2025 Group Financial Highlights
9M 2025 GROUP FINANCIAL HIGHLIGHTS Sustained growth driven by ongoing execution of development revenue backlog, record development sales and contributions from recurring income portfolio (AED mn) Q3 25 Q3 24 YoY 9M 25 9M 24 YoY Revenue (AED mn) Revenue 8,026 5,582 44% 23,553 16,500 43% +43% Gross pr
Slide 17: 9M 2025 Group Balance Sheet
9M 2025 GROUP BALANCE SHEET Strong balance sheet position supported by prudent capital management and robust governance Balance Sheet Leverage Aldar Investment Aldar Development (AED mn) 30 Sept 2025 31 Dec 2024 Bank: Outstanding Debt1 ▪ Sukuk: AED 8.0bn ▪ UAE : AED 5.9bn Property, plant and equipme
Slide 18: Aldar Development
ALDAR DEVELOPMENT 9M 2025 Results Presentation 28 October 2025
Slide 19: Aldar Development 9M 2025 Financial Performance
ALDAR DEVELOPMENT 9M 2025 FINANCIAL PERFORMANCE AED mn Q3 25 Q3 24 YoY 9M 25 9M 24 YoY AED mn Q3 25 Q3 24 YoY 9M 25 9M 24 YoY Group Sales 10,183 9,939 2% 28,532 23,955 19% UAE 9,055 7,285 24% 26,506 20,232 31% International 1,128 2,654 -57% 2,026 3,723 -46% Gross Profit 1,913 1,092 75% 5,508 3,526 5
Slide 20: UAE Landbank Overview
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 1.4mn sqm 60.0mn sqm Land Area 59.9mn sqm GFA 7.8mn sqm3 Yas Island Land Area 1.7mn sqm GFA 1.7mn sqm ▪ Larg
Slide 21: UAE Development Projects Pipeline
UAE DEVELOPMENT PROJECTS PIPELINE Projects under construction, as at 30 Sep 20251 Net Sales Revenue Cash to be Project Location Launch Year Total Units Launched Units Sold Units % sold value (AED mn) NSA (sqm) Area Sold Avg sale price/sqm2 Backlog (AED mn) % completion Completion date collected (AED
Slide 22: Aldar Projects
ALDAR PROJECTS1 Aldar Projects backlog of AED 82.3bn Project Management Backlog Progression (AED bn) 0.3 19 91 89 0.3 86 26 82 79 1 0.3 82 78 1 76 0 (3) (3) (4) (3) 41 39 29 59 (3) (3) 22 (4) 29 50 51 45 28 (4) 88 88 86 86 79 79 76 76 82 75 75 72 55 55 54 57 53 50 50 31 32 29 33 30-Sep-23 Work New 3
Slide 23: Egypt – SODIC
EGYPT – SODIC1 Land Area 22.9mn sqm; BUA 7.8mn sqm; GDV EGP 1.2bn Sales (EGP mn) 48,987 Revenue (EGP mn) -51% +75% 9,893 29,808 8,648 7,648 6,922 20,971 39,641 9,529 11,205 19,617 5,439 FY 21 FY 22 FY 23 FY 24 9M 24 9M 25 FY 21 FY 22 FY 23 FY 24 9M 24 9M 25 Units sold (k) EBITDA (EGP mn) +239% 2,436
Slide 24: UK - London Square (1/3)
UK - LONDON SQUARE ( 1/3) Land Area 0.48mn sqm; BUA 0.60mn sqm; GDV GBP 4,120mn Sales (GBP mn) Revenue (GBP mn) 233 117 80 88 48 44 41 64 59 55 29 22 17 33 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Units sold 723 180 120 23 40 16 52 Q1 24 Q2 24 Q3 24 Q4 24 Q
Slide 25: UK - London Square (2/3)
UK - LONDON SQUARE ( 2/3) Acquired 3 sites YTD; adding GBP ~0.5bn GDV to BTS & BTR pipeline 1 Wyvil Road, Vauxhall Zone 1 2 Richmond College campus, Twickenham Zone 5 3 Tite Street, Chelsea Zone 1 4 The Phoenix Academy, White City Zone 2 5 Westminster Tower, Albert Embankment Zone 1+2 16 6 Stratford
Slide 26: UK - London Square (3/3)
UK - LONDON SQUARE ( 3/3) Acquired 3 sites YTD; bringing additional total GDV of GBP 2.9bn+ to BTS & BTR pipeline 1. Wyvil Road, Vauxhall (Zone 1) 9. Brook Green, Hammersmith (Zone 2) o Redevelopment of existing office & warehouse buildings o Refurbishment of Victorian former school buildings o Buil
Slide 27: Aldar Investment
ALDAR INVESTMENT 9M 2025 Results Presentation 28 October 2025
Slide 28: Aldar Investment 9M 2025 Financial Performance
ALDAR INVESTMENT 9M 2025 FINANCIAL PERFORMANCE AED mn Q3 25 Q3 24 YoY 9M 25 9M 24 YoY AED mn Q3 25 Q3 24 YoY 9M 25 9M 24 YoY Recurring Revenue1 1,996 1,730 15% 5,761 4,965 16% Adj. EBITDA1,2,3 788 674 17% 2,341 1,993 17% Investment Properties2 (IP) 717 572 25% 2,077 1,695 23% Investment Properties 5
Slide 29: Investment Properties Overview
INVESTMENT PROPERTIES OVERVIEW1 97% occupancy across the portfolio Commercial Residential Retail Logistics No. of assets 29 15 305 46 Leasable area (‘000 sqm) 5827 925 533 3886 Occupancy 99% 98% 90%3 98%6 WAULT (yrs) 4.1 3.7 3.7 3.56 9M 2025 Revenue (AEDmn) 815 (+27% YoY) 540 (+26% YoY) 642 (+12%YoY
Slide 30: Investment Properties (1/4) – Commercial
INVESTMENT PROPERTIES (1/4) – COMMERCIAL 2022-2023 2024 2025 2026-2027 2028 Acquisition Acquisition Acquisition D-Hold D-Hold D-Hold H2 2022 H1 2025 H2 2027 H2 2024 H1 2028 H2 2028 Abu Dhabi, Al Maryah Island Abu Dhabi Abu Dhabi, Saadiyat Island Dubai, DIC Dubai, DIFC Dubai, Expo City ADGM JV with M
Slide 31: Investment Properties (2/4) – Residential
INVESTMENT PROPERTIES (2/4) – RESIDENTIAL 2022 2023 2024 2025-2026 2027-2028 Acquisition Acquisition D-Hold D-Hold H1 2025 H1 2027 H2 2028 H2 2023 Abu Dhabi Abu Dhabi, Al Shamkah Abu Dhabi, Yas Island RAK JV with Mubadala - Masdar Al Reeman Affordable Staff Accommodation Staff accommodations 3 asset
Slide 32: Investment Properties (3/4) – Retail
INVESTMENT PROPERTIES (3/4) – RETAIL 2022 2023 2024 2025 2026 2027-2028 Redevelopment H1 2024 Redevelopment D-Hold D-Hold D-Hold D-Hold H1 2022 H1 2025 RAK H1 2026 H2 2028 Abu Dhabi, Yas Island Abu Dhabi, Noya & Yas Golf Al Hamra Mall Abu Dhabi, Saadiyat Island Dubai, Expo City Yas Mall Collection G
Slide 33: Investment Properties (4/4) – Logistics
INVESTMENT PROPERTIES (4/4) – LOGISTICS 2022 2023 2024 2025 2026 2027 Acquisition Acquisition D-Hold Acquisition D-Hold D-Hold H2 2024 H1 2027 H1 2022 H2 2023 H1 2025 H1 2026 Abu Dhabi Dubai, Jebel Ali, NIP Abu Dhabi Dubai, DIP Dubai Dubai, DIP Abu Dhabi Business Hub Logistics Park – phase 2 Abu Dha
Slide 34: Hospitality & Leisure (1/2)
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, beach clubs and addition to hotel apartments courses (Yas Links) marina facilities on prime beach
Slide 35: Hospitality & Leisure (2/2)
HOSPITALITY & LEISURE (2/2) Ambitious growth plans - through greenfield, brownfield and acquisitions 2022 2023 2024 2025 2026 2027 Acquisition H1 2025 Transformation Transformation D-Hold 2022 H1 2026 H2 2027 Abu Dhabi RAK Abu Dhabi Abu Dhabi, Saadiyat Island Tilal Liwa repositioned as Rixos Bab Al
Slide 36: Aldar Education (1/2)
ALDAR EDUCATION (1/2) 2nd largest private school operator in the UAE Operated Schools Managed Schools • 13 Operated Schools; Total Capacity: 25k students • 14 Managed Schools; Total Capacity: 26k students • 71% capacity utilisation • 70% capacity utilisation • +14% enrolment growth YoY, driven by: •
Slide 37: Aldar Education (2/2)
ALDAR EDUCATION (2/2) Ambitious growth plans - through greenfield, brownfield and acquisitions 2022 2023 2024 2025 2026-2027 2028 Acquisition Acquisition Green Field Brown Field Green Field AY2024/2025 AY2028/2029 2023 AY2025/2026 AY21/22 Abu Dhabi Abu Dhabi Dubai Abu Dhabi Abu Dhabi Yasmina British
Slide 38: Aldar Estates (1/2)
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 management platform Facility Management Services provided by Geography AED 836mn Orderbook 8.3K+ employees
Slide 39: Aldar Estates (2/2)
ALDAR ESTATES1 (2/2) 2022 2023 2024 2025 2026 2027 Acquisition Acquisition Acquisition H2 2022 H1 2025 H1 2023 Abu Dhabi Abu Dhabi Abu Dhabi Spark Security & other Basatin Landscaping (buyout Basatin Landscaping of minority shareholding) Merger Acquisition H2 2023 H2 2025 Abu Dhabi Abu Dhabi Eltizam
Slide 40: Segmental Breakdown
SEGMENTAL BREAKDOWN 9M 2025 Results Presentation 28 October 2025
Slide 41: Segmental Breakdown Q3 2025 vs Q3 2024
SEGMENTAL BREAKDOWN Q3 2025 vs Q3 2024 Revenue (AED mn) 3,978 2,786 987 853 719 572 717 689 758 348 199 219 237 257 33 45 Property Dev. Project Mgmt. Services International Investment Properties Hospitality & Leisure Education Estates Others & Sales Q3 24 Q3 25 EBITDA (AED mn) 1,345 763.5 569 405 30
Slide 42: Segmental Breakdown 9M 2025 vs 9M 2024
SEGMENTAL BREAKDOWN 9M 2025 vs 9M 2024 Revenue (AED mn) 12,956 8,885 2,294 1,855 1,695 2,077 1,804 2,091 1,404 1,086 745 763 639 704 82 126 Property Dev. Project Mgmt. Services International Investment Properties Hospitality & Leisure Education Estates Others & Sales 9M 24 9M 25 EBITDA (AED mn) 4,26
Slide 43: 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 44: 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
Slide 45: Appendix
APPENDIX 9M 2025 Results Presentation 28 October 2025
Slide 46: AED 17.6 Billion D-Hold Pipeline
AED 17.66 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, DIFC Yas Place Business Hub expansion Logistics Park – two modular buildings DIFC Tower4 GLA 24.7k sqm Compl
Slide 47: D-Hold Capex
D-HOLD CAPEX AED 14.6bn total capex phased over 2024 – 2029 AED 17.6bn3 D-Hold pipeline 1 Segment Project Location Target Completion Aldar Ownership GLA (sqm) GDV (AED mn) Yas Place Yas Island H1 2025 – completed 100% 24,660 370 Saadiyat Business Park Saadiyat Island H2 2027 100% 25,000 490 One Mary
Slide 48: 2025 Capital Deployed
2025 CAPITAL DEPLOYED c. AED 2.3bn of capital deployed Aldar Development (c. AED 0.2bn) Aldar Investment (c. AED 1.7bn) Transaction Value (AED mn) Transaction Value (AED mn) Investment Commercial: Al Maryah Tower (additional 40% stake) 362 International Land acquisitions, UK 153 Properties Logisitic
Slide 49: 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 74.5bn 5 EBITDA AED 7.7bn DJSI 61 Moody’s Credit Rating Baa26 Net Profi
Slide 50: Thank You
THANK YOU