Abu Dhabi – Mubasher: Aldar Properties posted a 57% year-on-year (YoY) surge in net profit to AED 3.32 billion in the first half (H1) of 2024 from AED 2.11 billion.

Revenues soared by 73% YoY to AED 10.91 billion in H1-24 from AED 6.30 billion, according to a press release.

During the second quarter (Q2) of 2024, the company’s net profit jumped by 37% YoY to AED 1.80 billion.

Revenues leapt by 64% YoY to AED 5.30 billion in Q2-24.

Mohamed Khalifa Al Mubarak, Chairman of Aldar Properties, said: “The UAE real estate market continues to display solid fundamentals driven by strong end-user demand and increasing global investor interest, and this is reflected in Aldar’s strong financial and operational performance in the first six months of 2024.”

Talal Al Dhiyebi, GROUP CEO OF Aldar Properties, stated: “Aldar's exceptional performance in the first half of 2024 highlights our effective and diversified business model, strong brand, and a positive operating environment in the UAE.”

The net profits of Aldar Properties soared by 88% YoY to AED 1.57 billion in Q1-24 from AED 835.79 million.