New Launch - India Real Estate Report 2026.
Modon Holding reported Dh26 billion in property sales during the first half of 2026, including Dh23 billion in Abu Dhabi, after strong demand for new residential developments lifted revenue and expanded its future income pipeline. The group recorded net profit of Dh2.2 billion, while revenue increased 40 per cent year on year to a half-year record of Dh9.2 billion.
- Property sales: Dh26 billion (Dh23 billion from Abu Dhabi)
- Net profit: Dh2.2 billion
- Revenue: Dh9.2 billion, up 40 per cent year on year
Hudayriyat Golf Estates launch drives record Abu Dhabi sales
Real estate sales increased 2.6 times compared with the first half of 2025, driven by developments in Abu Dhabi, Egypt and Spain. The launch of Hudayriyat Golf Estates generated Dh13 billion in sales within days, which Modon described as the highest sales value recorded for a single residential project launch in the UAE.
Group Managing Director Abdulla Al Sahi said the performance positioned the company as the largest developer in Abu Dhabi by sales value during the first half of the year.
Tara Park on Reem Island sold out across two phases launched in March and April, while further phases were released at Wadi Yemm in Egypt. Real estate revenue increased 56 per cent to Dh5.7 billion, Modon's main earnings contributor, and the group awarded Dh14.1 billion in construction and consultancy contracts during the period.
Also Read: Modon, ADIB Launch Abu Dhabi Off-Plan Home Finance
Revenue backlog doubles to Dh65.4 billion
Modon's revenue backlog doubled from a year earlier to Dh65.4 billion, up 42 per cent from the end of 2025, with UAE and Egypt developments accounting for 95 per cent of the total. Adjusted EBITDA reached Dh3 billion, while recurring revenue increased 22 per cent to Dh3.5 billion, representing 38 per cent of group revenue.
Excluding one-off gains and dividend income from the previous year, adjusted EBITDA increased 18 per cent and net profit rose 23 per cent. Group CEO Bill O'Regan said the backlog, alongside additional income-generating assets coming online, supports a positive outlook into the second half and 2027.
Modon held Dh8.6 billion in unrestricted cash and Dh1.5 billion in undrawn committed facilities at the end of June, with net debt of Dh912 million and net debt to EBITDA at 0.18 times.
Events, hospitality and asset management add to growth
Revenue from events, catering and tourism increased 25 per cent to Dh2.8 billion, including a Dh1 billion contribution from Arena Group. Modon hosted 484 events attracting more than 2.7 million visitors across UAE and UK venues, while catering served 24.9 million meals, up 5 per cent year on year.
Asset and investment management revenue rose 13 per cent to Dh361 million, supported by higher rental income and 96 per cent occupancy. Hotel revenue increased 8 per cent to Dh388 million, aided by domestic and staycation demand.
The group entered the second half with total assets of Dh92 billion and equity of Dh57 billion, up 6 per cent and 5 per cent respectively since the end of 2025.
Enjoyed this update? Visit PropTech Pulse for more real estate news, investment insights and property market trends.
