Abu Dhabi‘s largest developer Aldar Properties reported a 24% jump in first-half profit on Tuesday, driven by a record development backlog and surging international demand – led by Chinese buyers.
Aldar, the builder behind Ferrari World and lavish island properties in Abu Dhabi, made a net profit of 4.1 billion UAE dirhams ($1.12 billion) in the half ended June 30, as the group’s development sales grew 31% to 18.3 billion dirhams.
The growth in sales was driven by “a growing stream of international buyers” in the United Arab Emirates, with Chinese investors at the forefront, Chief Financial and Sustainability Officer Faisal Falaknaz told reporters.
Sales to Chinese buyers hit 1.7 billion dirhams in the first half of 2025, already exceeding the 1.5 billion dirhams recorded for all of 2024, Falaknaz said.
The UAE’s real estate market continues to build momentum, drawing interest from institutional investors and private equity firms alike as they seek stable returns and the Gulf’s low taxes, political stability and luxury properties draw investors from countries like China and Russia.
International buyers and expats made up 84% of Aldar’s UAE sales in the first half of 2025, up from 78% in 2024 and 66% in 2023.
The firm, which recently acquired developers in Egypt and the UK, said it has no plans for further international expansion and is focusing instead on its domestic operations.
“The UAE, Abu Dhabi, Dubai, Ras Al Khaimah will continue to be the primary focus going forward,” Falaknaz said. Aldar launched five new projects in the Emirates in the first half.
Aldar’s development backlog rose to 62.3 billion dirham by the end of June, 53.4 billion of which is in the UAE.
