Image: Modon Holding
Abu Dhabi-based Modon Holding reported a net profit of Dhs2.1bn for H1 2025, a 4.2-fold increase from a year earlier after excluding one-off items in H1 2024.
The strong performance was driven by record real estate sales, increased recurring income streams, and continued strategic investments.
Group revenue tripled year-on-year to Dhs6.5bn, while EBITDA rose fourfold to Dhs2.9bn. The company cited robust contributions from its four key business segments – real estate, asset and investment management, events, catering and tourism and hospitality.
Real estate driving Modon’s growth in H1
Real estate remained the group’s primary growth engine, generating Dhs3.65bn in revenue, up four times from the prior year. Sales reached Dhs10bn, including full sell-outs of the Muheira and Nawayef Village projects. Modon’s revenue backlog across all segments stood at Dhs 33bn.
The company’s recurring income portfolio also expanded, with near-full occupancy across its leasing portfolio and growing contributions from the hospitality and events businesses.
Recurring income now contributes 44 per cent of group revenues.
The year’s first half also saw significant strategic activity. Modon acquired 100 per cent of Arena Events Group, expanding its international footprint in the events and infrastructure sector. The group also bought a 50 per cent stake in London’s 2 Finsbury Avenue commercial development through a joint venture with British Land and GIC.
A new infrastructure platform, Gridora, was launched in partnership with ADQ and IHC to lead strategic projects in the UAE and abroad.
In May, Gridora signed an MoU with the Abu Dhabi Projects and Infrastructure Centre (ADPIC) to support the delivery of Dhs35bn in transport infrastructure across Abu Dhabi.
“The results reflect the strength of our diversified operating model and our ability to scale across high-impact sectors,” said group CEO Bill O’Regan. “With record sales, a robust pipeline, and expanding recurring revenues, we’re well-positioned for sustainable growth into the second half.”
Chairman Jassem Mohammed Bu Ataba Al Zaabi added that the performance further reinforced Abu Dhabi’s position as a global hub for investment and urban development.
Modon assets rise
Total assets rose to Dhs 85bn, up 12 per cent since end-2024, while net debt remained low at Dhs1.6bn, or 0.03x equity.
Looking ahead, Modon plans to advance the launch of its 170.8m sqm Ras El Hekma development in Egypt and expand across priority markets including the UK, North America, and Spain.
The group also intends to build on recent success with further launches, including the Wadeem community, which generated Dhs5.5bn in sales within three days of launch in July.
Modon’s hospitality arm, with 2,097 keys across nine wholly owned hotels, contributed Dhs359m in H1 revenue.
The events, catering and tourism division brought in Dhs2.2bn, boosted by the integration of Arena, Business Design Centre, and Royal Catering.
With a growing asset base, strong cash flow, and a diversified portfolio, Modon said it remains focused on long-term value creation, operational excellence, and supporting Abu Dhabi’s broader economic ambitions.
