Dubai, UAE — Aldar, one of the region’s leading real estate development and investment companies, has significantly increased its ownership of Aldar Estates, solidifying its control of the business. Through the acquisition of Modon Holding’s 17.45% indirect stake, Aldar now holds an 82.55% share in the real estate services platform.
The move is the latest in a series of strategic acquisitions and organic growth initiatives that have positioned Aldar Estates as the largest integrated real estate services company in the region. The platform now manages over AED3 billion worth of active contracts.
In the past two years, Aldar Estates has seen remarkable expansion. The company’s portfolio of managed residential units has grown by 15% to over 155,000, while the prime retail and commercial leasable space it manages has doubled to two million square meters. This growth contributed to the business’s strong financial performance in 2024, with revenue climbing to AED2.6 billion and EBITDA reaching AED400 million.
According to Jassem Salah Busaibe, CEO of Aldar Investment, Aldar Estates is on a “strong growth trajectory” driven by increasing demand for its services. He stated that the business is well-positioned to “capture new opportunities” in the real estate services market, supported by Aldar’s extensive development pipeline and expanding client base.
Aldar Estates, a key part of the Aldar Investment platform, has also expanded its capabilities through a number of acquisitions, including FAB Properties in late 2023, which broadened its client base and service offerings. The Aldar Investment platform itself manages a diverse portfolio of income-generating assets valued at AED 47 billion.
