Aldar Aims for $8.4 Billion Sales with Green Sukuk Issuance Plans

UAE’s Largest Developer Targets Growth Amid Sustainability Drive

Aldar Properties, Abu Dhabi’s leading listed developer, sets its sights on achieving sales of up to Dh31 billion ($8.4 billion) this year, propelled by robust market demand and strategic expansion plans. Faisal Falaknaz, Aldar Group’s chief financial and sustainability officer, revealed the company’s ambitious targets alongside its commitment to sustainability initiatives and potential issuance of green sukuk bonds to support its growth trajectory.

With sales nearing Dh28 billion in the previous year, Aldar Properties aims to capitalize on the thriving UAE property market, with a significant portion of sales projected from the domestic market, including Abu Dhabi, Dubai, and Ras Al Khaimah. Mr. Falaknaz emphasized the pivotal role of recent developments in Dubai and Ras Al Khaimah in bolstering sales figures, with plans underway to introduce new units for sale in Ras Al Khaimah and unveil a new master development project in Dubai.

Collaborating with Dubai Holding on joint venture projects, Aldar remains committed to activating key masterplans, reflecting a gross development value exceeding Dh25 billion. The recent merger of Nakheel and Meydan with Dubai Holding signifies the strength of Dubai’s real estate market, reinforcing investor confidence and market resilience.

Amid buoyant real estate activity in the UAE, Aldar’s strategic investments align with the nation’s economic diversification agenda and policies fostering growth. The company’s focus on sustainability extends beyond its sales targets, with plans to issue additional green sukuk bonds following its successful debut issuance of $500 million last year.

As part of its sustainability agenda, Aldar is on track to achieve net-zero emissions by 2050, leveraging initiatives such as building retrofits, low-carbon designs, and utilization of eco-friendly materials in construction. With investments totaling Dh150 million in retrofitting existing assets and embracing renewable energy solutions, Aldar demonstrates its commitment to environmental stewardship and corporate responsibility.

Looking ahead, Aldar remains poised to expand its portfolio through strategic acquisitions, targeting recurring income assets and growth opportunities both domestically and internationally. The company’s recent acquisitions, including UK-based developer London Square and central logistics hubs in Dubai, underscore its commitment to diversified growth strategies and global expansion.

Despite recent property price surges, Aldar anticipates a steady growth trajectory in the market, supported by strong demand across various segments. With robust indicators such as increased school enrollments, high commercial occupancy rates, and rising footfall in shopping malls, Aldar remains bullish about the UAE’s property market outlook, projecting sustained growth amid evolving market dynamics.

As Aldar navigates the dynamic real estate landscape, its dual focus on profitability and sustainability positions the company as a frontrunner in driving economic prosperity while championing environmental stewardship and social responsibility.