Al Dar Properties · ADX:ALDAR
Al Dar Properties — H1 2025 Earnings Presentation
49 slides from Al Dar Properties's earnings presentation, Jul 29, 2025
Slide 1: H1 2025 Results Presentation
H1 2025 RESULTS PRESENTATION Aldar Properties 29 July 2025
Slide 2: H1 2025 Highlights
H1 2025 HIGHLIGHTS H1 2025 Results Presentation 29 July 2025
Slide 3: H1 2025 Executive Summary
H1 2025 EXECUTIVE SUMMARY Group • Cross-platform growth driven by solid inventory sales, successful new launches, Revenue EBITDA Net Profit1 ongoing recognition of development revenue backlog, contributions from recurring income portfolio from both organic and acquisitions AED 15.5bn AED 5.3bn AED 4
Slide 4: Recent H1 Announcement Highlights
RECENT H1 ANNOUNCEMENT HIGHLIGHTS Aldar Development Aldar Investment 3 new launches in Abu Dhabi in Q2; 5 total H1 25 launches Logistics Fahid Island, Abu Dhabi Saadiyat Island, Abu Dhabi Al Markaz Acquisition for AED 530mn • Fahid Beach Residences (Q2) • Manarat Living III (Q1) • The Beach House Fa
Slide 5: Aldar Development (1/2)
ALDAR DEVELOPMENT (1/2) Strong performance in H1 2025 driven by solid sales of existing inventory and successful new launches Group Sales (AED bn) Revenue (AED bn) 33.6 15.7 +31% +50% 27.9 1.7 5.3 3.6 18.3 8.3 11.3 14.4 7.0 14.0 0.9 1.3 7.5 1.0 28.3 14.0 3.4 1.1 3.9 1.4 7.2 24.3 0.7 17.5 7.0 10.3 11
Slide 6: Aldar Development (2/2) - UAE
ALDAR DEVELOPMENT (2/2) - UAE Property Development & Sales TOP 3: Sales Demographic, UAE Sales Breakdown India USA TOP 5: RAK, 7% UK China RAK, 12% 11% 16% AED 1.2bn 24% Russia AED 3.3bn 10% 28% 28% UK 12% USA TOP 5: India India China UK FY 24 H1 25 38% 54% Russia 79% 56% France AED 28.3bn AED 17.5b
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% 6,979 219 33 3,766 5,759 3,236 236 45 4,120 3,284 (3) +21% -1% +11% +20% FY 21 FY 22 FY 23 FY 24 H1 24 IP H&L Education Estates Others H1 25 A
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 +17% 993 +11% +35% 852 +26% +30% 132 420 +41% 64 excl.
Slide 9: Aldar Investment (3/3) – H&L, Education & Estates
ALDAR INVESTMENT (3/3) – H&L, EDUCATION & ESTATES Hospitality & Leisure Education Aldar Estates1 Occupancy 70% 31 Schools Property Management 12 Operated schools Facilities Management ADR AED 659 (+8% YoY) 19 Managed schools Integrated Community Services 37k 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 June 25 31 Dec 24 (AED mn) Outstanding Debt (AED bn) Available liquidity (AED bn) Debt3 22,081 16,386 Free & Subordinated Cash 17,939 15,136 unrestricted Hybrid Notes cash 1 Total Equity 44,640 42,796 5.5 Bank debt
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 H1 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 H1 25 FY 25 (Actual) (Actual) (1yr Guidance) Aldar Properties EBITDA AED 7.7bn AED 5.3bn AED 10.4 to 10.8bn Deployment(M&A) AED 2.3bn AED 1.0bn1 AED 3 to 4bn Capex (D-Hold) AED 2.3bn AED 0.9bn AED 3 to 4b
Slide 14: Q&A
Q&A H1 2025 Results Presentation 29 July 2025
Slide 15: Group
GROUP H1 2025 Results Presentation 29 July 2025
Slide 16: H1 2025 Group Financial Highlights
H1 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) Q2 25 Q2 24 YoY H1 25 H1 24 YoY Revenue (AED mn) 22,998 +42% Revenue 7,736 5,303 46% 15,527 10,918 42% 1
Slide 17: H1 2025 Group Balance Sheet
H1 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 June 2025 31 Dec 2024 Bank: Outstanding Debt1 ▪ Sukuk: AED 7.4bn ▪ UAE : AED 8.5bn Property, plant and equipme
Slide 18: Aldar Development
ALDAR DEVELOPMENT H1 2025 Results Presentation 29 July 2025
Slide 19: Aldar Development H1 2025 Financial Performance
ALDAR DEVELOPMENT H1 2025 FINANCIAL PERFORMANCE AED mn Q2 25 Q2 24 YoY H1 25 H1 24 YoY AED mn Q2 25 Q2 24 YoY H1 25 H1 24 YoY Group Sales 9,412 7,703 22% 18,349 14,016 31% UAE 9,006 6,832 32% 17,452 12,947 35% International 406 870 -53% 898 1,069 -16% Gross Profit 1,695 1,146 48% 3,595 2,433 48% Egy
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 7.9mn 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 June 20251 Net Sales Revenue Cash to be Launch Launched Sold NSA Avg sale % Completion Project Location Total Units % sold value Area Sold Backlog collected Year Units Units (sqm) price/sqm2 completion date (AED mn) (AED mn) (AE
Slide 22: Aldar Projects
ALDAR PROJECTS1 Aldar Projects backlog of AED 86.0bn Project Management Backlog Progression (AED bn) 0.3 19 91 89 0.3 86 26 82 1 79 78 1 76 0 (3) (3) 41 29 61 2 59 (3) (3) (3) 39 22 (4) 50 45 51 (3) 26 28 (4) 88 88 86 86 79 79 76 76 75 75 72 55 55 54 57 50 50 35 31 32 33 29 30-Jun-23 Work New 30-Sep
Slide 23: Egypt – SODIC
EGYPT – SODIC1 Land Area 22.9mn sqm; BUA 8.2mn sqm; GDV EGP 690mn Sales (EGP mn) 48,987 Revenue (EGP mn) -18% +17% 9,893 29,808 8,648 7,648 6,922 3,999 20,971 8,801 7,233 3,406 11,205 FY 21 FY 22 FY 23 FY 24 H1 24 H1 25 FY 21 FY 22 FY 23 FY 24 H1 24 H1 25 Units sold ( k) EBITDA (EGP mn) +152% 2.9 2,
Slide 24: UK - London Square (1/3)
UK - LONDON SQUARE ( 1/3) Land Area 0.47mn sqm; BUA 0.61mn sqm; GDV GBP 4,008mn Sales (GBP mn) Revenue (GBP mn) 233 117 80 64 59 55 48 44 41 22 29 17 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Units sold 723 180 120 23 40 16 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 H1 2025 Re
Slide 25: UK - London Square (2/3)
UK - LONDON SQUARE ( 2/3) Acquired 2 sites in H1 2025; adding GBP 272mn 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 15 6 Str
Slide 26: UK - London Square (3/3)
UK - LONDON SQUARE ( 3/3) Acquired 2 sites in H1 2025; bringing additional total GDV of GBP 2.7bn+ to BTS & BTR pipeline 1. Wyvil Road, Vauxhall (Zone 1) 8. Biscuit Factory, Bermondsey (Zone 2) o Redevelopment of existing office & warehouse buildings o Redevelopment of former commercial building int
Slide 27: Aldar Investment
ALDAR INVESTMENT H1 2025 Results Presentation 29 July 2025
Slide 28: Aldar Investment H1 2025 Financial Performance
ALDAR INVESTMENT H1 2025 FINANCIAL PERFORMANCE AED mn Q2 25 Q2 24 YoY H1 25 H1 24 YoY AED mn Q2 25 Q2 24 YoY H1 25 H1 24 YoY Recurring Revenue1 1,895 1,606 18% 3,766 3,236 16% Adj. EBITDA1,2,3 789 626 26% 1,553 1,319 18% Investment Properties2 (IP) 681 568 20% 1,360 1,123 21% Investment Properties 4
Slide 29: Investment Properties Overview
INVESTMENT PROPERTIES OVERVIEW1 97% occupancy across the portfolio Commercial Residential Retail Logistics No. of assets 28 15 305 46 Leasable area (‘000 sqm) 769 931 524 3896 Occupancy 99% 98% 91%3 97%6 WAULT (yrs) 3.6 3.6 4.0 3.46 H1 2025 Revenue (AEDmn) 533 (+26% YoY) 357 (+28% YoY) 427 (+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 H2 2022 H1 2025 H2 2027 H1 2028 H2 2024 Abu Dhabi, Saadiyat Island Dubai, DIFC Abu Dhabi, Al Maryah Island Abu Dhabi Dubai, DIC Saadiyat Business Park – DIFC Tower ADGM JV wi
Slide 31: Investment Properties (2/4) – Residential
INVESTMENT PROPERTIES (2/4) – RESIDENTIAL 2022 2023 2024 2025 2026 2027-2028 Acquisition Acquisition D-Hold H1 2025 H2 2028 H2 2023 Abu Dhabi Dubai, Expo City RAK JV with Mubadala - Masdar Expo City Staff accommodations 3 assets – 1,409 units3 GLA ~22k sqm GLA 14k sqm GLA : 132k sqm3 Strata Sale Pro
Slide 32: Investment Properties (3/4) – Retail
INVESTMENT PROPERTIES (3/4) – RETAIL 2022 2023 2024 2025 2026 2027-2028 Redevelopment H1 2024 Redevelopment H1 2025 D-Hold D-Hold D-Hold D-Hold H1 2022 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 2026 H1 2027 H1 2022 H2 2023 H1 2025 Abu Dhabi Abu Dhabi Dubai, Jebel Ali, NIP Abu Dhabi Dubai, DIP Dubai Abu Dhabi Business Hub Abu Dhabi Business Hub Logistics
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 H2 2026 Transformation D-Hold 2022 H2 2027 Abu Dhabi Abu Dhabi RAK Abu Dhabi, Saadiyat Island Tilal Liwa repositioned as Yas Plaza to
Slide 36: Aldar Education (1/2)
ALDAR EDUCATION (1/2) 2nd largest private school operator in the UAE Operated Schools Managed Schools • 12 Operated Schools; Total Capacity: 23k students • 19 Managed Schools; Total Capacity: 30k students • 70% capacity utilisation (76% excluding Noya British School) • 71% capacity utilisation • +13
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 Green 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 831mn Orderbook 8.3K+ employees
Slide 39: Aldar Estates (2/2)
ALDAR ESTATES1 (2/2) 2022 2023 2024 2025 2026 2027 Acquisition Acquisition H2 2022 H1 2023 Abu Dhabi Abu Dhabi Spark Security & other Basatin Landscaping Merger H2 2023 Abu Dhabi Eltizam Asset Management Group Acquisition H2 2023 Abu Dhabi FAB Properties AED mn FY 22 FY 23 FY 24 H1 24 H1 25 YoY Reve
Slide 40: Segmental Breakdown
SEGMENTAL BREAKDOWN H1 2025 Results Presentation 29 July 2025
Slide 41: Segmental Breakdown: Q2 2025 vs Q2 2024
SEGMENTAL BREAKDOWN Q2 2025 vs Q2 2024 Revenue (AED mn) 4,274 2,854 634 695 568 681 562 676 431 349 248 271 221 203 26 45 Property Dev. Project Mgmt. Services International Investment Properties Hospitality & Leisure Education Estates Others & Sales Q2 24 Q2 25 EBITDA (AED mn) 1,344 1,040 930 832 13
Slide 42: Segmental Breakdown: H1 2025 vs H1 2024
SEGMENTAL BREAKDOWN H1 2025 vs H1 2024 Revenue (AED mn) 8,977 6,099 1,307 738 1,002 1,123 1,360 1,115 1,334 684 546 543 402 448 49 81 Property Dev. Project Mgmt. Services International Investment Properties Hospitality & Leisure Education Estates Others & Sales H1 24 H1 25 EBITDA (AED mn) 2,916 1,97
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 H1 2025 Results Presentation 29 July 2025
Slide 46: AED 14.3 Billion D-Hold Pipeline
AED 14.3 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, DIFC Yas Place Business Hub expansion Logistics Park – two modular buildings DIFC Tower4 GLA 25k sqm GLA incr
Slide 47: D-Hold Capex
D-HOLD CAPEX AED 12.2bn total capex phased over 2024 – 2029 for AED 14.3bn D-Hold pipeline Aldar 1 Segment Project Location Target Completion GLA (sqm) GDV (AED mn) Ownership Yas Place Yas Island Completed 100% 25,000 370 Saadiyat Business Park Saadiyat Island H2 2027 100% 25,000 490 Commercial One
Slide 48: 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 77.8bn 5 EBITDA AED 7.7bn DJSI 61 Moody’s Credit Rating Baa26 Net Profi
Slide 49: Thank You
THANK YOU