Modon Holding has announced a robust financial performance for the first half of 2026, recording a net profit of Dh2.2 billion and record property sales totalling Dh26 billion. With revenue increasing 40% year-on-year to Dh9.2 billion, the government-backed developer continues to demonstrate exceptional growth, driven by the record-breaking launch of Hudayriyat Golf Estates (Dh13 billion in sales) and the sell-out of Tara Park on Reem Island.
H1 2026 Financial Performance at a Glance
Adjusted EBITDA: Dh3.0 billion (32.6% margin)
Record-Breaking Project Performance
1. Hudayriyat Golf Estates – UAE Record
Community Features:
- Andalusian-inspired architecture with dual waterfront and fairway views
- 95-hectare golf course integrated within a walkable masterplan
- 2.3-kilometre green spine linking clubhouse, wellness, fitness, retail, co-working, and a school
- Located 20 minutes from downtown Abu Dhabi, 30 minutes from Zayed International Airport
Leadership Commentary:
“This strong demand reflects the growing global confidence in Abu Dhabi and the UAE, underpinned by the leadership’s long-term vision, economic strength and commitment to sustainable development.” – H.E. Jassem Mohamed Bu Ataba Al Zaabi, Chairman of Modon Holding
“The response from buyers reflects a broader shift in how people choose where to live. Buyers increasingly seek communities that combine quality homes with lifestyle, wellbeing and connectivity.” – Bill O’Regan, Group CEO of Modon Holding
2. Tara Park – Reem Island Sell-Out
Ibrahim Al Maghribi, CEO of Modon Real Estate:
“The sell-out of Tara Park sends a clear signal. Buyers are not hesitating; they are making considered, long-term decisions.”
Revenue Breakdown & Diversified Portfolio
Diversification Note: Recurring revenue increased 22% to Dh3.5 billion, representing 38% of group revenue .
Financial Strength & Liquidity
Bill O’Regan, Group CEO:
“Our Group revenue backlog of Dh65.4 billion, alongside additional income-generating assets coming online, ensure a positive outlook for future growth. As we move into the second half of the year and beyond into 2027, Modon will expand on its objectives, maintaining forward progress with a disciplined and relentless focus on delivery.”
Key Takeaways for Investors
Get Ahead of Modon’s Next Launch
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Sources: Gulf News, ZAWYA, Economy Middle East, Aletihad, Bernama, Antara News, Morningstar, Modon Corporate, MECN.
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