Aldar in 9M 2026: profit up 19% to AED 7.1bn, but UAE sales down 46%
Editorial
Aldar earned more in the first nine months of 2026 but sold less: net profit rose 19% to AED 7.1 billion while group development sales fell 34% to AED 18.9 billion.
Source: Khaleej Times on Aldar's 27 October 2026 results.
Why profit rose while sales fell
Aldar books development profit as projects are built, not when units are sold. Revenue and EBITDA therefore follow the backlog sold in earlier years, which the company says drove the nine-month results. About 89% of the UAE backlog has already been awarded to contractors, so the revenue it represents is largely locked in over the next two to three years.
The sales slowdown is the number to watch. UAE sales were AED 5.0 billion in the third quarter, down 45%, and AED 14.4 billion over nine months, down 46%. Group sales in the third quarter were AED 6.8 billion. Aldar says 78% of its UAE sales, AED 11.3 billion, came from overseas and expatriate resident buyers.
- UAE: AED 14.4bn (76%)
- SODIC, Egypt: AED 3.0bn (16%)
- London Square, UK: AED 1.4bn (7%)
Shares are our calculation from the reported figures.
Delivery and launches
| Business | Q3 2026 | 9M 2026 |
|---|---|---|
| SODIC revenue (Egypt) | AED 313m | AED 670m |
| SODIC sales | AED 1.6bn | AED 3.0bn (+99%) |
| London Square revenue | AED 411m | AED 978m |
| London Square sales | AED 226m | AED 1.4bn (+177%) |
| Group revenue | AED 9.3bn (+16%) | AED 26.2bn (+11%) |
Aldar holds a majority of SODIC through a consortium and fully acquired London Square in 2023.
The seven Q3 launches were Al Ghadeer Gardens II, Al Ghadeer Parks, The Canopies, Sei Saadiyat, Talay, Talay Beach and Yas Riva Reserve.