Q3 2025 Aldar Properties PJSC Earnings Call Transcript
Key Points
- Aldar Properties PJSC (ADX:ALDAR) reported a 43% year-on-year increase in group revenue to AED23.6 billion for the first nine months of 2025.
- EBITDA increased by 44% to AED7.8 billion, setting the company on course to potentially exceed its full-year guidance.
- The company experienced a 19% year-on-year increase in group development sales, reaching AED28.5 billion, driven by strong sales momentum from new launches and existing inventory.
- Aldar Investment delivered a 17% increase in adjusted EBITDA to AED2.3 billion, supported by organic growth and recent acquisitions.
- The investment properties portfolio achieved a 97% occupancy rate, contributing to a 20% year-on-year rise in adjusted EBITDA.
- Aldar's effective tax rate increased to 12.6% from 4.3% in the same period last year, due to the UAE's adoption of a new corporate tax rate.
- International sales were down 50% year-on-year, indicating challenges in the global market.
- The hospitality segment saw a 2% decrease in EBITDA, attributed to properties being partially offline for renovations.
- Managed schools, which contribute less than 5% of overall EBITDA, saw a decline in enrollment due to the handover of schools to the Ministry of Education.
- The company acknowledged that its current development-to-hold pipeline of AED17.6 billion is insufficient to meet its ambitious target of a 50/50 recurring versus non-recurring EBITDA mix by 2030.
Hello, everyone, and welcome to the Aldar Properties 9-months 2025 financial results. My name is Ezra and I will be your coordinator today. (Operator Instructions)
I will now hand over to Faisal Falaknaz, the Group Chief Finance and Sustainability Officer, to begin. Please go ahead when you're ready.
As-salamu alaykum. Thank you for joining today's call to discuss Aldar's financial results for the first 9 months of 2025. Aldar has delivered another solid financial performance as disciplined execution on strategy and capital deployment continues to yield strong results. Our business has reached significant scale and maturity with the development and investment platform serving as engines of earnings growth.
This performance also reflects the continued strength of the UAE economy as the country cements its position as a global hub for investment, talent, knowledge, and residents. Aldar is meeting sustained demand for high-quality real estate and long-term community infrastructure.
The strong 9-month performance was driven by
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