Modon delivers $571.8m H1 net profit; record real estate sales

30/07/2025 03:24 AST

Abu Dhabi-based Modon Holding, a leader in real estate, hospitality, asset and investment management, and tourism, has delivered an outstanding AED2.1 billion ($571.82 million) H1 2025 net profit, with continued momentum across its core segments.

Modon Holding, an Abu Dhabi-based leader in real estate, hospitality, asset and investment management, and tourism, delivered exceptional performance in the first half of 2025, with revenue and profitability significantly increasing year-on-year, excluding last year's one-off items.

The results were driven by solid contributions across all four core segments, underpinned by the successful integration of recent acquisitions and execution of strategic investments, the company said.

Real estate revenue led Modon's growth, which was further strengthened by stronger recurring revenue from improved operations across the Asset Management and Hospitality assets, as well as outperformance in the Events, Catering & Tourism segment. The Group recorded landmark real estate sales of AED10 billion.

Continuing positive momentum as Modon enters H2, the AED5.5 billion sell-out of the Wadeem community's residential plots in July has pushed cumulative sales beyond the 2024 total, ensuring a strong start for the second half while further reinforcing Modon's growing development pipeline and building a strong foundation for long-term value creation.

H1 2025 Group Highlights
 Group revenue tripled year-on-year to AED6.5 billion, driven by the recognition of a deepening development backlog which reflects record real estate sales from new launches and existing inventory, improved performance across the recurring revenue portfolio, and contributions from recent acquisitions.

 Group EBITDA reached AED2.9 billion, rising 4.0x year-on-year, excluding last year's one-off items, and outpacing revenue growth, with margins expanding to 44%, supported by an enhanced portfolio mix, efficiency gains and integration synergies.

 Group net profit grew 4.2x year-on-year to AED2.1 billion, compared to AED502 million in H1 2024, excluding the one-off AED9.0 billion bargain gain from the 2024 merger and other non-core provisions and unrealised fair value changes. The uplift was underpinned by a strong operating performance across all four core business segments.

 Group revenue backlog amounted to AED33 billion across all business segments.

 Real estate sales were AED10 billion, with two launches across flagship Modon masterplans sold out within a day, reflecting strong market demand.

 Recurring income streams strengthened across Asset Management, Hospitality, and Events, Catering & Tourism segments, driven by near-full occupancy across the leasing portfolio, operational expansion, strategic acquisitions, and improved rates and synergies.

 International expansion continued through strategic investments in the United Kingdom and North America, increasing Modon's operational footprint to 13 countries.

 Operating under Modon, Gridora, a new infrastructure platform was jointly formed with ADQ and IHC and will lead strategic infrastructure projects in the UAE and abroad. In May, Gridora signed an MoU with Abu Dhabi Projects and Infrastructure Centre (ADPIC) to support delivery of ADPIC's AED35 billion mandated transport infrastructure programme in Abu Dhabi.

Jassem Mohammed Bu Ataba Al Zaabi, Chariman of Modon Holding, said: "H1 2025 marks another pivotal chapter in Modon's evolution as a diversified international holding group. Exceptional commercial performance and strategic delivery continue to accelerate our transformation, enabling us to scale across high-impact sectors. We remain focused on long-term value creation while reinforcing Abu Dhabi's position as a global hub for investment, innovation and sustainable urban development."

Abdullah Al Sahi,Group Managing Director of Modon Holding, said: "Modon's performance in the first half of 2025 reflects disciplined execution of our strategic roadmap, supported by strong sales achievements and sustained momentum across our core businesses. Continued expansion into priority markets such as the UK and North America, alongside targeted growth across Egypt and Spain, reflects our commitment to building a future-ready portfolio with global reach. These moves strengthen our asset base and enhance our ability to drive long-term, sustainable value creation."

Bill O'Regan, Group Chief executive Officer of Modon Holding, said: "Our outstanding H1 2025 results demonstrate the strength of Modon's diversified operating model and our ability to deliver at scale. Revenue and EBITDA grew significantly, driven by high-demand real estate launches, stable recurring income and disciplined capital deployment. Record sales of AED10 billion and a robust development pipeline reinforce forward visibility, while key milestones - the acquisition of a global leader in large-scale temporary infrastructure (Arena), our expansion into UK prime commercial real estate and our role in launching Gridora - further position us to lead across priority growth sectors. Looking ahead to the second half of 2025 and into next year, we will continue to execute with discipline and deliver sustainable impact across markets."

Outlook & Future Growth
Modon enters the second half of 2025 with strong momentum and a clear focus on disciplined execution. Its diversified business model continues to provide resilience, while recent acquisitions and integrations have expanded the Group's operational scale and strategic reach, the company said.

Already in H2, the launch of Wadeem - Modon's first residential land plot offering on Hudayriyat Island - has generated AED5.5 billion in sales within 72 hours, with more launches still to be announced. The success of Wadeem reinforces both the strength of the development pipeline and sustained demand for flagship communities, while demonstrating Modon's capacity for shaping distinctive offerings that meet market demands across unrivalled destinations.

With a robust revenue backlog, rising recurring income and continued asset rotation, Modon is well-positioned to enhance capital efficiency and sustain long-term growth. Key priorities for the second half include advancing the Ras El Hekma launch in Egypt, sustaining performance across Abu Dhabi's core developments, further activation of the recuring income portfolio, and unlocking synergies across the core segments, the company said.

The group remains focused on timely project delivery, deepening its income base, driving operational excellence, and advancing ESG and digital transformation - supporting its role in delivering Abu Dhabi's national and global development agenda, it added.

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