Modon Holding PSC announced robust results for the first half of 2025, reporting a net profit of AED 2.1bn—an increase of more than fourfold compared to AED 502m in H1 2024 (excluding the AED 9bn one-off gain from last year's merger and other non-core adjustments). The Group's strong performance was underpinned by solid results across its core segments, recent acquisitions, and ongoing strategic investments. Group revenue tripled year-on-year to AED 6.5bn, supported by record real estate sales and the recognition of a deepening development backlog from both new launches and existing inventory. Recurring revenues from the Asset Management, Hospitality, and Events, Catering & Tourism segments also recorded notable improvement, boosted by near-full occupancy rates, operational expansions, and integration synergies from strategic acquisitions. Group EBITDA grew more than fourfold to AED 2.9bn, with margins expanding to 44%, reflecting a stronger portfolio mix and operational efficiencies. Real estate sales reached AED 10bn in H1 2025, driven by the rapid sell-out of two flagship masterplan launches, which sold out within a day—highlighting continued strong market demand. The company's revenue backlog rose to AED 33bn, spanning all business lines. Building on this momentum, Modon secured an AED 5.5bn sell-out of residential plots at its Wadeem community in July, pushing cumulative sales beyond the full-year 2024 total and ensuring a strong start to the second half of 2025. This success further strengthens Modon's development pipeline and reinforces its long-term value creation strategy. Internationally, Modon advanced its strategic expansion with key investments in the United Kingdom and North America, expanding its operational footprint to 13 countries. Domestically, the company launched Gridora, a new infrastructure platform created in partnership with ADQ and IHC. In May, Gridora signed an MoU with Abu Dhabi Projects and Infrastructure Centre (ADPIC) to support delivery of ADPIC's AED 35bn transport infrastructure programme in Abu Dhabi. The Group's performance reflects Modon's balanced approach: combining record-breaking real estate sales and growing recurring income streams with strategic investments to drive sustained growth and create long-term shareholder value.
