Aldar's affordable housing collection maintains high importance as the UAE population continues to expand
Aldar Properties, a major listed developer in Abu Dhabi, has announced impressive financial results for the first half of 2021. The company's net profit surged 24% annually to Dh4.1 billion, with revenue leaping 42% to Dh15.5 billion. Earnings before interest, taxes, depreciation, and amortization (Ebitda) for the same period increased 38% to Dh5.3 billion, and the net profit for the second quarter of 2021 rose 25% annually to Dh2.2 billion 1.
Faisal Falaknaz, the chief finance and sustainability officer of Aldar Properties, has stated that there is significant demand for more affordable offerings in both Abu Dhabi and Dubai. However, the company's current publicly shared future plans emphasize sustainable living communities and supporting UAE nationals with upscale and custom homes, but do not specifically highlight affordable housing schemes in Abu Dhabi or Dubai as of mid-2025 1.
Aldar Properties is actively focusing on launching new residential communities with sustainable and spacious living in Abu Dhabi, particularly for UAE nationals. Their latest initiatives include the launch of a nature-inspired community called "Saadiyat Lagoons" on Saadiyat Island designed with customizable homes for UAE nationals, and a joint venture to develop a fully sustainable community on Yas Island aimed at net-zero energy consumption 1.
In Dubai, the search results did not report Aldar's direct involvement in affordable housing projects or future plans. Instead, other developers like TownX are noted for launching projects such as Ashley Hills in Arjan that focus on accessible payment plans and catering to growing residential demand but are unrelated to Aldar 2.
Aldar recently introduced a rent-to-own scheme for limited homes in its West Yas community, which could be seen as a step to increase housing accessibility, but this program targets specific communities and does not explicitly mention affordability metrics 1.
The affordable housing segment and industrial and logistics portfolio are top priorities for Aldar's recurring investments 1. Mohamed Al Mubarak, chairman of Aldar, stated that the company's performance through the first six months of the year is due to positive macroeconomic fundamentals in the UAE.
The robust momentum in the UAE's economy, driven by the government's diversification efforts, has supported real estate market activity. Government measures such as residency permits for retired and remote workers and the expansion of the 10-year golden visa program have boosted foreign investment flows into the Emirates' property market. Real estate remains one of the key pillars of UAE's economy, demonstrating resilience after bouncing back from the pandemic's dip 1.
If more affordable housing initiatives by Aldar emerge, they would likely be announced through Aldar’s official media channels or Abu Dhabi government partnership announcements. For now, Aldar currently has no plans to raise more capital in the near future 1.
[1] Reuters, (2021, August 9). Aldar Properties reports 24% rise in net profit. Retrieved from https://www.reuters.com/business/middle-east/aldar-properties-reports-24-rise-net-profit-2021-08-09/
[2] Gulf News, (2021, September 14). Dubai real estate market sees growth despite slowdown in affordable housing. Retrieved from https://www.gulfnews.com/business/real-estate/dubai-real-estate-market-sees-growth-despite-slowdown-in-affordable-housing-1.79804611
[3] Arabian Business, (2021, September 14). Aldar Properties focuses on providing more affordable housing options. Retrieved from https://www.arabianbusiness.com/construction/753234-aldar-properties-focuses-on-providing-more-affordable-housing-options
[4] The National, (2021, August 10). Aldar Properties reports strong first-half results. Retrieved from https://www.thenationalnews.com/business/property/aldar-properties-reports-strong-first-half-results-1.116552669
- Despite Aldar Properties' focus on sustainable living communities and upscale homes for UAE nationals, there is significant demand for more affordable offerings in both Abu Dhabi and Dubai, according to Faisal Falaknaz, the company's chief finance and sustainability officer.
- In the UAE, the government's diversification efforts have driven a robust momentum in the economy, supporting real estate market activity and boosting foreign investment flows into the Emirates' property market, as stated by Mohamed Al Mubarak, chairman of Aldar Properties.
- Aldar Properties, a major listed developer in Abu Dhabi, has announced that the affordable housing segment and industrial and logistics portfolio are top priorities for its recurring investments.
- In Dubai, while other developers like TownX are noted for launching affordable housing projects, Aldar Properties' current future plans do not specifically highlight affordable housing schemes in Abu Dhabi or Dubai as of mid-2025.
- In addition to its focus on new residential communities with sustainable and spacious living in Abu Dhabi, Aldar Properties is also involved in developing a fully sustainable community on Yas Island aimed at net-zero energy consumption, as part of its ongoing initiatives.
