Aldar Acquires Modon Holding’s Stake in Aldar Estates

Abu Dhabi-based leading real estate developer, manager, and investor Aldar Investment on Tuesday said that it has further consolidated its position in the Aldar Estates platform by increasing its ownership to 82.55% following the acquisition of Modon Holding’s 17.45% indirect stake in the business (held through its wholly owned subsidiary ADNEC Group).

Through strategic acquisitions and strong organic growth, Aldar Estates, has become the region’s largest integrated real estate services company with over $820 million worth of active contracts. Aldar has a growing presence across the UAE, the Middle East North Africa (MENA), and Europe.

The platform manages more than 155,000 residential units, which is a 15% increase in the past two years, and has doubled prime retail and commercial leasable space under management to two million sq. m. in the same period.

In 2024, the business increased revenue to $710 million and EBITDA to $108.92 million, significantly contributing to Aldar’s strategy of scaling diversified recurring income streams.

Aldar Investment CEO Jassem Salah Busaibe said that Aldar Estates has been on a strong growth trajectory, driven by rising demand for facilities management, property management, and community services.

Supported by Aldar’s development pipeline, an expanding portfolio of investment properties, and a growing base of third-party clients, the business is well positioned to scale further, capture new opportunities in the real estate services market, and deliver long-term value to communities, clients and shareholders, he said.

Aldar Estates is a key business within the Aldar Investment platform, which manages a diverse $12.8 billion portfolio of income-generating assets.

A number of acquisitions by Aldar Estates have added significant scale and capabilities, across landscaping, security, technical services, sustainability consulting, and community management. In late 2023, Aldar Estates also acquired FAB Properties substantially broadening the client base and offering.

Core Business Segments

The company has two core business segments, Aldar Development and Aldar Investment. Aldar Development is a master developer of a 62 million sq. m. strategic landbank, creating integrated and thriving communities across Abu Dhabi, Dubai, and Ras Al Khaimah’s most desirable destinations.

The delivery of Aldar’s developments is managed by Aldar Projects, which is also a key partner of the Abu Dhabi government in delivering housing and infrastructure projects across the UAE’s capital. Internationally, Aldar Development wholly owns UK real estate developer London Square, as well as a majority stake in leading Egyptian real estate development company, SODIC.

By exiting Aldar Estates, Modon Holding will continue to focus on delivering strategic growth across its four core business segments: real estate, asset management, events, catering and tourism, and hospitality.

The sale does not include Modon Holding’s own property and facilities management services, which are managed as part of Modon Communities, and will continue to expand independently as part of the Modon group.