Modon Holding has announced a robust financial performance for the first half of 2026, recording a net profit of Dh2.2 billion. This achievement follows significant property sales totalling Dh26 billion, with Dh23 billion attributed to the Abu Dhabi market, propelled by strong demand for new residential developments across its portfolio.
The group’s revenue saw a substantial increase of 40% year-on-year, reaching a half-year record of Dh9.2 billion. This growth was underpinned by a sales surge, with real estate sales increasing 2.6 times compared to the first half of 2025. Key markets driving this expansion included Abu Dhabi, Egypt, and Spain.
A standout performance came from the launch of Hudayriyat Golf Estates, which generated Dh13 billion in sales within days. Modon described this as the highest sales value recorded for a single residential project launch in the UAE, underscoring the strong appetite for prime properties in Abu Dhabi.
Further reinforcing the positive sales momentum, Tara Park on Reem Island sold out across its two phases launched in March and April. Simultaneously, Modon continued its development pipeline with the release of additional phases at Wadi Yemm in Egypt, catering to regional market demand.
The company’s revenue backlog also demonstrated significant growth, doubling from a year earlier to a record Dh65.4 billion. This figure represents a 42% increase from the end of 2025, with developments in the UAE and Egypt accounting for 95% of the total backlog, indicating a solid foundation for future earnings.
Beyond property sales, Modon’s diversified revenue streams also contributed to its overall financial strength. Revenue from events, catering, and tourism rose by 25% to Dh2.8 billion, including a Dh1 billion contribution from Arena Group. The group hosted 484 events, attracting over 2.7 million visitors across venues in the UAE and UK, while its catering operations served 24.9 million meals, a 5% increase year-on-year.
Asset and investment management revenue climbed 13% to Dh361 million, supported by enhanced rental income and a high occupancy rate of 96% across its owned properties. Revenue from owned and operated hotels increased 8% to Dh388 million. Modon noted that heightened domestic and staycation demand helped mitigate the impact of softer international tourism experienced during regional travel disruptions in March and April.
Modon entered the second half of 2026 with total assets of Dh92 billion and equity of Dh57 billion, marking increases of 6% and 5% respectively since the close of 2025, reflecting continued expansion and financial stability.