ACQUISITION IN EGYPT
FOR A BETTER FUTURE
Record Development Performance
FOR A BETTER FUTURE
Yas Mall Redevelopment
FOR A BETTER FUTURE
Investment in Education
FOR A BETTER FUTURE
ACQUISITION
IN EGYPT
FOR A BETTER FUTURE
Record Development Performance
FOR A BETTER FUTURE
Yas Mall Redevelopment
FOR A BETTER FUTURE
Investment in Education
FOR A BETTER FUTURE
At a Glance
Aldar is a leading UAE real estate developer, owner and manager predominantly focused on the Abu Dhabi market. In 2021, the Company expanded its footprint outside the UAE into the Egyptian market.
- ANSAM
- LEA
- MAYAN
- NOYA
- NOYA LUMA
- NOYA VIVA
- WATER’S EDGE
- WEST YAS
- YAS ACRES
- YAS ACRES – MAGNOLIAS
- YAS ACRES – DHALIAS
- MAMSHA
- JAWAHER
- SAADIYAT RESERVES
- AADIYAT GROVE
- MEERA
- REFLECTION
- THE BRIDGES
- MEERA
- REFLECTION
- THE BRIDGES
2. Al Gurm Phase 2
3. Merief
4. Hadeel
-
BOUTIK GATEREEM
-
CENTAL PARKSUN & SKY
-
TOWERS SHAMS BOUTIK
-
THE BRIDGES THE GATE
-
TOWERS AND THE ARC
-
CRANLEIGH ABU DHABI
-
SAADIYAT BEACH CLUB
-
SAADIYAT BEACH GOLF
-
CLUB SAADIYAT RETAIL
- YAS LINKS
- YAS W HOTEL
- YAS MALL
- IKEA
- ACE HARDWARE
- YAS ACRES GOLF CLUB
- AND YAS RA
- YAS PLAZA HOTELS
- AL BATEEN
- BANIYAS TOWERS
- AL MAMOURA
- ANANTARA EASTERN MANGROVES
- NORTH PARK
- INTERNATIONAL TOWER
- DAMAN HOUSE
- AL RAYYANA
- SAS AL NAKHL
- MOTOR WORLD
- AL RAHA PLAZA
- ETIHAD PLAZA
- AL RAHA BEACH COMMUNITY RETAIL
- HQ BUILDING
- AL OYOUN VILLAGE
- SHABAT PLAZA
- AL JIMI MAL
- RAMAL MALL
TRANSFORMATIONAL GROWTH
DRIVEN BY AN AMBITIOUS STRATEGY AND A STRONG CONNECTION WITH OUR COMMUNITIES, ALDAR PRODUCED A REMARKABLE FINANCIAL AND OPERATING PERFORMANCE IN 2021, DRIVING FORWARD OUR AGENDA FOR TRANSFORMATIONAL GROWTH.
The Company’s net profit increased 21% in 2021 to AED 2.33 billion. Subsequently, the Board of Directors has recommended a dividend of AED 0.15 per share in line with the company’s progressive dividend policy delivering a CAGR of 11% over the 10-year period demonstrating our continued commitment to delivering sustainable shareholder value.
Chairman of Aldar Properties
DRIVEN BY AN AMBITIOUS STRATEGY AND A STRONG CONNECTION WITH OUR COMMUNITIES, ALDAR PRODUCED A REMARKABLE FINANCIAL AND OPERATING PERFORMANCE IN 2021, DRIVING FORWARD OUR AGENDA FOR TRANSFORMATIONAL GROWTH.
The Company’s net profit increased 21% in 2021 to AED 2.33 billion. Subsequently, the Board of Directors has recommended a dividend of AED 0.15 per share in line with the company’s progressive dividend policy delivering a CAGR of 11% over the 10-year period demonstrating our continued commitment to delivering sustainable shareholder value.
Chairman of Aldar Properties
CREATING SUSTAINABLE,
LONG-TERM VALUE
Aldar plays a pivotal role in the growth, maturity and diversification of Abu Dhabi’s economy. We aim to be a sustainable business by anticipating and responding to the needs of our customers, communities, partners and employees. Using our knowledge, we are able to adapt to market conditions and enhance our position as we pursue our vision of long-term value creation.
input
We invest in our business through shareholder capital, borrowings and existing capital.
Our land and buildings, the materials and technologies we use, and the natural environment.
The relationships we have with customers, communities, government and partners, and the capabilities of our employees.
CORE ACTIVITIES
Land bank and land purchase.
Building infrastructure.
Real estate and complementary businesses.
Sell land or develop residential properties for sale.
Including asset management.
STRATEGY SITS AT THE HEART OF OUR BUSINESS
OUTPUT
Long-term growth in income and asset value, creating capacity for us to reinvest in our business and deliver on our promise to our shareholders.
Delivering desirable destinations for people to live, work and play.
Our ability to help businesses and people to thrive – including our own employees.
OUR VALUES UNDERPIN EVERYTHING WE DO
CENTRICITY
INCLUSIVE
CREATING SUSTAINABLE,
LONG-TERM VALUE
Aldar plays a pivotal role in the growth, maturity and diversification of Abu Dhabi’s economy. We aim to be a sustainable business by anticipating and responding to the needs of our customers, communities, partners and employees. Using our knowledge, we are able to adapt to market conditions and enhance our position as we pursue our vision of long-term value creation.
input
We invest in our business through shareholder capital, borrowings and existing capital.
Our land and buildings, the materials and technologies we use, and the natural environment.
The relationships we have with customers, communities, government and partners, and the capabilities of our employees.
CORE ACTIVITIES
Land bank and land purchase
Building Infrastructure
Real estate and complementary businesses
Sell land or develop residential properties for sale
Including Asset Management
STRATEGY SITS AT THE HEART OF OUR BUSINESS
OUTPUT
Long-term growth in income and asset value, creating capacity for us to reinvest in our business and deliver on our promise to our shareholders.
Delivering desirable destinations for people to live, work and play.
Our ability to help businesses and people to thrive – including our own employees.
OUR VALUES UNDERPIN EVERYTHING WE DO
CENTRICITY
INCLUSIVE
LASER-FOCUSED GROWTH STRATEGY
ALDAR PRODUCED AN EXCELLENT SET OF OPERATING AND FINANCIAL RESULTS IN 2021, WHICH REFLECT A RESILIENT BUSINESS THAT IS GROWING AND TRANSFORMING AT PACE. DRIVEN BY A LASER-FOCUSED GROWTH STRATEGY, OUR AGILE AND EFFICIENT OPERATING MODEL CONTINUES TO REAP REWARDS, WITH OUR DIVERSIFIED BUSINESSES ALL MAKING A VALUABLE CONTRIBUTION TO THE EXPANSION OF OUR PLATFORM.
Our strong performance in the context of continued global economic disruption in 2021 underscores the capacity of Aldar to withstand significant challenges and flourish. The sentiment in our core market, Abu Dhabi, has been bolstered by the roll out of a world-leading vaccination programme in combination with economic and social policy initiatives to promote private sector development.
Group Chief Executive Officer of Aldar Properties
ALDAR PRODUCED AN EXCELLENT SET OF OPERATING AND FINANCIAL RESULTS IN 2021, WHICH REFLECT A RESILIENT BUSINESS THAT IS GROWING AND TRANSFORMING AT PACE. DRIVEN BY A LASER-FOCUSED GROWTH STRATEGY, OUR AGILE AND EFFICIENT OPERATING MODEL CONTINUES TO REAP REWARDS, WITH OUR DIVERSIFIED BUSINESSES ALL MAKING A VALUABLE CONTRIBUTION TO THE EXPANSION OF OUR PLATFORM.
Our strong performance in the context of continued global economic disruption in 2021 underscores the capacity of Aldar to withstand significant challenges and flourish. The sentiment in our core market, Abu Dhabi, has been bolstered by the roll out of a world-leading vaccination programme in combination with economic and social policy initiatives to promote private sector development.
Group Chief Executive Officer of Aldar Properties
SUSTAINABLE RETURNS THROUGH SOUND INVESTMENTS AND INNOVATIVE STRATEGIES
Our vision demonstrates what we aim to achieve, while our mission defines our DNA and what we stand for. They form the cornerstone of our strategic intent and commitment to stakeholders.
FINANCIAL HORIZON
- Maximise shareholder value.
- Grow profits and enhance margins.
- Expand and drive sustainable growth.
OPERATIONAL EXCELLENCE
- Ensure our projects are delivered on time, within budget and agreed quality.
- Maximise and unlock the potential of our assets.
- Optimise our processes and strengthen our value chain.
- Embed environment and quality in all aspects of the business.
- Drive value and synergy through investment.
CUSTOMER CENTRICITY
- Engage customers and end users in all aspects of the business.
- Deliver exceptional customer experiences.
- Create customer intimacy through loyalty programmes and unified marketing.
- Integrate and promote social and environmental sustainability.
GROWTH AND EXPANSION
- Explore and invest in regional and international expansion.
- Grow our local portfolio in a sustainable and agile manner.
- Ensure optimal utilisation and growth ratios of our assets.
- Actively engage with our key stakeholders to drive growth.
PEOPLE, INNOVATION, SUSTAINABILITY & DIGITAL TRANSFORMATION
- Leverage data for more informed decision making.
- Deploy disruptive and leading technology in all aspects of the business.
- Empower and embed innovation in all aspects of the business.
- Attract and retain high-performing talent.
- Develop and engage our people.
- Nurture an innovative and creative culture.
SUSTAINABLE RETURNS THROUGH SOUND INVESTMENTS AND INNOVATIVE STRATEGIES
Our vision demonstrates what we aim to achieve, while our mission defines our DNA and what we stand for. They form the cornerstone of our strategic intent and commitment to stakeholders.
FINANCIAL HORIZON
- Maximise shareholder value.
- Grow profits and enhance margins.
- Expand and drive sustainable growth.
OPERATIONAL EXCELLENCE
- Ensure our projects are delivered on time, within budget and agreed quality.
- Maximise and unlock the potential of our assets.
- Optimise our processes and strengthen our value chain.
- Embed environment and quality in all aspects of the business.
- Drive value and synergy through investment.
CUSTOMER CENTRICITY
- Engage customers and end users in all aspects of the business.
- Deliver exceptional customer experiences.
- Create customer intimacy through loyalty programmes and unified marketing.
- Integrate and promote social and environmental sustainability.
GROWTH AND EXPANSION
- Explore and invest in regional and international expansion.
- Grow our local portfolio in a sustainable and agile manner.
- Ensure optimal utilisation and growth ratios of our assets.
- Actively engage with our key stakeholders to drive growth.
PEOPLE, INNOVATION, SUSTAINABILITY & DIGITAL TRANSFORMATION
- Leverage data for more informed decision making.
- Deploy disruptive and leading technology in all aspects of the business.
- Empower and embed innovation in all aspects of the business.
- Attract and retain high-performing talent.
- Develop and engage our people.
- Nurture an innovative and creative culture.
2021 HIGHLIGHTS
Aldar is the largest real estate group in Abu Dhabi, and one of the region’s most recognised and trusted master developers
GREG FEWERCHIEF FINANCIAL &SUSTAINABILITY OFFICER
Aldar’s powerful performance in 2021 has set the foundation for a new phase of sustainable and transformational growth across our diversified business. Our revenue for the year stood at AED 8.58 billion, up 2% year-on-year, with gross and net profit both up 21% year-on-year to reach AED 3.60 billion and AED 2.33 billion respectively.
GREG FEWER
Aldar’s powerful performance in 2021 has set the foundation for a new phase of sustainable and transformational growth across our diversified business. Our revenue for the year stood at AED 8.58 billion, up 2% year-on-year, with gross and net profit both up 21% year-on-year to reach AED 3.60 billion and AED 2.33 billion respectively.
AED 8.6bn
AED 3.6bn
AED 2.3bn
15.0 fils
AED 1.7bn
AED 7.2bn
29.5 fils
AED 49.5bn
1. Excludes Pivot.
Note: The investment in Egypt completed on 16 December 2021. As there were no significant transactions or events from the acquisition date to 31 December, our financial results for 2021 do not include the performance of SODIC and the balance sheet was consolidated as of 31 December 2021.
SUSTAINABILITY
Despite a challenging year for businesses and processes as a result of the ongoing pandemic, we significantly improved our ESG score on different regional and international ratings1. Our ESG score is now well above the industry average for both S&P Dow Jones Sustainability Index and Sustainalytics.
ECONOMY
Our economic sustainability and contributions are vital to everyone who depends on our Company, including our customers, communities, employees, supply chain, shareholders and investors. We strive to provide our shareholders with secure, growing distributions derived from sustainable business practices.
COMMUNITY
Healthy and dynamic communities are at the heart of our business. These multi-faceted environments – where citizens, residents and visitors live, learn, work and play – can be powerful catalysts of sustainable change, not just through the sustainability of the buildings themselves but also by encouraging sustainable lifestyles for everyone within them.
PEOPLE
Our people are the lifeblood of our business and sustainability journey, continuously raising the bar for what our Company should and can achieve, and then applying their combined creativity, determination and expertise to meet and exceed these goals.
ENVIRONMENT
We aim to reduce our environmental impact and improve the efficiency of our use of resources over time, in recognition that our stewardship of the environment is our greatest responsibility to future generations.
Operational Highlights
Q1
Aldar announces new group operating model as it embarks on the next phase of growth
Provis accelerates growth and widens reach through acquisition of Asteco Property Management
Appointment of Aldar on an exclusive basis as the strategic delivery partner for the Government of Abu Dhabi on key public housing and associated community infrastructure projects above AED 50 million
Aldar unveils AED 500 million redevelopment plan to redefine retail experience at Yas Mall to be completed in H2 2022
Aldar announces new group operating model as it embarks on the next phase of growth
Provis accelerates growth and widens reach through acquisition of Asteco Property Management
Appointment of Aldar on an exclusive basis as the strategic delivery partner for the Government of Abu Dhabi on key public housing and associated community infrastructure projects above AED 50 million
Aldar unveils AED 500 million redevelopment plan to redefine retail experience at Yas Mall to be completed in H2 2022
Q2
Aldar’s Yas Island development Noya Viva sells out in less than 48 Hours
Aldar partners with global venture capital firm Fifth Wall to invest in European proptech fund
Aldar Q1 2021 net profit grows 80% to AED 544 million as development business outperforms
Aldar's Noya Luma development on Yas Island sells out in 4 hours
Aldar’s Yas Island development Noya Viva sells out in less than 48 hours
Aldar partners with global venture capital firm Fifth Wall to invest in European proptech fund
Aldar Q1 2021 net profit grows 80% to AED 544 million as development business outperforms
Aldar's Noya Luma development on Yas Island sells out in 4 hours
Q3
Aldar signs agreement with HSBC to become the first MENA real estate company to secure sustainability-linked loan
Aldar sells out Saadiyat Reserve, The Dunes
Aldar sells out exclusive Waterfront land plots at Al Gurm
Aldar sustains growth momentum with 15% rise in gross profit in Q2 2021
Aldar signs agreement with HSBC to become the first MENA real estate company to secure sustainability-linked loan
Aldar sells out Saadiyat Reserve, The Dunes
Aldar sells out exclusive Waterfront land plots at Al Gurm
Aldar sustains growth momentum with 15% rise in gross profit in Q2 2021
Q4
Aldar completes the sale of all homes at the newly launched Magnolias development at Yas Acres
Aldar pledges to create 1,000 jobs for UAE nationals by 2026 in line with ‘Projects of the 50’ Nafis programme
Aldar Q3 2021 gross profit grows 20% to AED 834 million with Aldar Development recording highest-ever quarterly sales of AED 2.69 billion
Aldar-ADQ consortium completes acquisition of majority stake in EGX-listed SODIC
Aldar completes the sale of all homes at the newly launched Magnolias development at Yas Acres
Aldar pledges to create 1,000 jobs for UAE nationals by 2026 in line with ‘Projects of the 50’ Nafis programme
Aldar Q3 2021 gross profit grows 20% to AED 834 million with Aldar Development recording highest-ever quarterly sales of AED 2.69 billion
Aldar-ADQ consortium completes acquisition of majority stake in EGX-listed SODIC
JONATHAN EMERY CHIEF EXECUTIVE OFFICER OF ALDAR DEVELOPMENT
Without question, 2021 was a year characterised by significant activity across every segment of Aldar Development. Through a comprehensive and in-depth understanding of local market dynamics and our data-driven approach, we were able to focus on releasing a range of new projects into the market that both addressed and satisfied customer demands.
JONATHAN EMERY
CHIEF EXECUTIVE OFFICER OF ALDAR DEVELOPMENT
Without question, 2021 was a year characterised by significant activity across every segment of Aldar Development. Through a comprehensive and in-depth understanding of local market dynamics and our data-driven approach, we were able to focus on releasing a range of new projects into the market that both addressed and satisfied customer demands.
ADEL ABDULLA ALBREIKI CHIEF EXECUTIVE OFFICER OF ALDAR PROJECTS
Aldar Projects saw significant growth during the year driven by the strong ramp-up of projects and notable capital deployment to support the growth of the development fee-based business. Our continued progress on our strategic priorities has enabled us to achieve a 105% increase in gross profit for the year with a significant total project backlog of AED 41.1 billion which supports revenue visibility going forward.
ADEL ABDULLA ALBREIKI
CHIEF EXECUTIVE OFFICER OF ALDAR PROJECTS
Aldar Projects saw significant growth during the year driven by the strong ramp-up of projects and notable capital deployment to support the growth of the development fee-based business. Our continued progress on our strategic priorities has enabled us to achieve a 105% increase in gross profit for the year with a significant total project backlog of AED 41.1 billion which supports revenue visibility going forward.
JASSEM BUSAIBE CHIEF EXECUTIVE OFFICER OF ALDAR INVESTMENT
2021 was a transformational year for Aldar Investment highlighting the robustness of our platform, the strength of our portfolio and established track record of high-quality asset management. The business produced a solid net operating income of AED 1.72 billion1, representing an 11% increase from the prior year.
JASSEM BUSAIBE
CHIEF EXECUTIVE OFFICER OF ALDAR INVESTMENT
2021 was a transformational year for Aldar Investment highlighting the robustness of our platform, the strength of our portfolio and established track record of high-quality asset management. The business produced a solid net operating income of AED 1.72 billion1, representing an 11% increase from the prior year.
Strategic Report
GOVERNANCE
FINANCIAL STATEMENTS
