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Aldar vs Modon: which Abu Dhabi developer to invest with in 2026?

In short

Aldar and Modon are Abu Dhabi’s two big listed developers. Aldar has the longer delivery record and the wider range across Yas, Saadiyat and Al Reem, with an AED 71.6bn development backlog. Modon, 84.75% owned by an Abu Dhabi government holding, is growing faster, but its first freehold communities have yet to hand over.

Aldar FY 2025 results · Modon H1 2026 results · H1 2026 reports · Aldar H1 2026 results

AED 40.6bn

Aldar group sales in 2025, of which AED 35.5bn in the UAE

Source: Aldar FY 2025 results

AED 26bn

Modon real estate sales in H1 2026, of which AED 23bn in Abu Dhabi

Source: Modon H1 2026 results

AED 71.6bn vs AED 65.4bn

Backlog at end-June 2026: Aldar (development) vs Modon (group revenue)

Source: H1 2026 reports

80%

Share of Aldar’s H1 2026 UAE sales made to expatriate residents and overseas buyers

Source: Aldar H1 2026 results

Saadiyat Island, Abu Dhabi.Photo: © VALORISIMO

In this article · 8 sections

Who are Aldar and Modon?

Aldar Properties is Abu Dhabi’s established developer. It is listed on the Abu Dhabi Securities Exchange (ADX) and describes itself as “the leading real estate developer, manager, and investor in Abu Dhabi”. Its development arm is master developer of a 60 million sqm landbank across Abu Dhabi, Dubai and Ras Al Khaimah, according to its FY 2025 results release. Its largest shareholder is Alpha Dhabi Holding, which raised its stake to 29.8% in January 2022 and became Aldar’s parent company later that year. On top of development, Aldar runs a large income-producing portfolio (Yas Mall, offices, schools) and owns SODIC in Egypt and London Square in the UK.

Modon Holding is newer in its current form. Also ADX-listed, it was formed in February 2024, when Modon Properties and ADNEC were consolidated into the former Q Holding. In 2025, L’imad Holding, which is wholly owned by the Abu Dhabi government, acquired an 84.75% stake, according to Modon’s FY 2025 release. Modon’s residential focus is two islands, Hudayriyat and Al Reem. Abroad it is master developer of Ras El Hekma in Egypt and owns La Zagaleta in Spain, with further projects in London and the US. It also runs events, hospitality and asset-management businesses.

Both companies are listed and backed by Abu Dhabi state shareholders, but they are at different stages. Aldar has years of completed projects behind it. Modon is a fast-growing challenger whose freehold residential launches mostly date from late 2024 onwards.

Aldar vs Modon: how do the 2026 numbers compare?

The latest published figures, as of 26 October 2026, are the H1 2026 results (released 29 July 2026). Q3 2026 results were not yet out at the time of writing.

Metric	Aldar	Modon
Listing	ADX (ticker ALDAR)	ADX
Anchor shareholder	Alpha Dhabi Holding (parent company since 2022)	L’imad Holding (Abu Dhabi government), 84.75%
Landbank	60 million sqm	Not published
2025 sales (group)	AED 40.6bn, of which AED 35.5bn UAE	AED 36.3bn, of which AED 29.8bn Abu Dhabi
H1 2026 sales (group)	AED 12.1bn (−34% YoY), of which AED 9.4bn UAE	AED 26bn (2.6x YoY), of which AED 23bn Abu Dhabi
Backlog, end-June 2026	AED 71.6bn development backlog, of which AED 59.9bn UAE	AED 65.4bn group revenue backlog (95% UAE and Egypt developments)
H1 2026 net profit	AED 4.9bn (+18%)	AED 2.2bn
Foreign / expat buyer share	80% of UAE sales in H1 2026	15% non-UAE residents at Hudayriyat Golf Estates (July 2026)

Source: Aldar FY 2025 results (9 Feb 2026) and H1 2026 results (29 Jul 2026); Modon FY 2025 results (18 Feb 2026) and H1 2026 results (29 Jul 2026); Modon release of 7 Jul 2026. Data as of 30 June 2026.

How to read the table:

The backlogs are not like-for-like. Aldar reports a development backlog, meaning homes sold but not yet booked as revenue. Modon reports a group revenue backlog, 95% of which comes from UAE and Egypt developments. The sizes are close, but the definitions differ.
Aldar's H1 slowdown was deliberate, by its own account. It put the 34% drop down to "a measured approach to new launches in response to prevailing market conditions in the UAE". Major launches restarted in September 2026 (see section 3).
A few very large launches drive Modon's growth. Hudayriyat Golf Estates alone passed AED 13bn of sales within days in July 2026, according to Modon.

Where does each developer build?

Aldar is active in most of Abu Dhabi’s freehold investment zones:

Saadiyat Island: in July 2026 Aldar unveiled Marsa Al Saadiyat, the final phase of the island's masterplan (AED 100bn GDV, of which Aldar will develop AED 60bn). Its first residential release, Talay, comprises 351 four- to six-bedroom villas and went on sale on 23 September 2026. The Row Saadiyat launched in late 2025.
Yas Island: Yas Park Place, The Orchids at Yas Acres, Yas Riva Reserve (292 villas, launched September 2026) and Yas Point, an AED 6bn mixed-use community whose first release is The Canopies.
Al Ghadeer Gardens (villas and townhouses on the Abu Dhabi–Dubai corridor), Fahid Island (King's College School Wimbledon planned for 2028–2029), plus Al Reem and Al Raha, home to landmark Aldar buildings such as Gate Towers and its headquarters.

Aldar says Talay and Yas Riva Reserve together generated more than AED 5bn of sales in the week to 29 September 2026, with 69% of sales going to expatriate residents and overseas buyers.

Modon concentrates its residential business on two islands, according to its own website:

Hudayriyat Island: Nawayef (Park Views, Village, East), Al Naseem, Bashayer, Wadeem and Wadeem Gardens, and Hudayriyat Golf Estates, where about 1,700 homes sold at the July 2026 launch.
Al Reem Island: Reem Hills, Maysan, Tara Park (sold out, about AED 2bn) and Muheira, Modon's first freehold towers on Reem. Muheira's 475 apartments sold out on launch day for about AED 1bn.

Note: Ramhan Island is sometimes linked to Modon, but trade press names Eagle Hills as its developer, and it does not appear in Modon’s project list.

Which developer has the stronger delivery track record?

For an off-plan buyer, this is the most practical difference between the two.

Aldar has a long record of completed projects across the city, including Gate Towers on Al Reem, Al Raha and many Yas Island communities. At 30 June 2026 its UAE backlog had an average duration of 29 months, and H1 2026 cash collections reached AED 7.6bn. Aldar says 66% of Q2 2026 customer handovers were completed digitally.

Modon is newer to freehold development. Its public residential launches mostly date from late 2024: Maysan phase one in October 2024, Nawayef East in November 2024 and Nawayef Park Views in December 2024. In December 2025 it awarded an AED 5bn main construction contract for 735 villas at Nawayef East and West, and an AED 1bn contract for Maysan. Property Finder, for example, lists January 2028 for Nawayef Park Views, but Modon has not published an official first-handover schedule.

None of this says anything about the quality or timeliness of Modon’s future deliveries. It simply means its projects cannot yet be judged on completed handovers. The useful question is how far along this specific project is, and you can check that on DARI (section 7).

What payment plans and price points do they offer?

Payment plans. Modon’s official FAQ says its off-plan projects usually follow a 40/60 or 50/50 structure, with a down payment often of 10% or 20% and the balance on handover. Since July 2026, Modon and ADIB also offer off-plan financing of up to 75% during construction on future Modon developments. Wadeem Gardens was the first villa community to offer it, in September 2026.

At Aldar, plans vary by project. For example, Yas Park Place is 5% on booking, 45% during construction and 50% on handover, with delivery listed for January 2030 (Property Finder). Payment plans vary by project: ask the developer for the official schedule.

Price points. The two developers cover different segments:

Project	Developer	Type	Indicative price
Yas Park Place (Yas)	Aldar	Studios to 3-bed	from AED 1.39m
Muheira (Al Reem)	Modon	1- to 3-bed	about AED 2.1m average*
Hudayriyat Golf Estates	Modon	Townhouses, villas, mansions	about AED 7.6m average*
Yas Riva Reserve (Yas)	Aldar	Villas	from AED 7.9m

Source: Property Finder (Yas Park Place, October 2026); Aldar release of 18 Sep 2026 (Yas Riva Reserve); \*Valorisimo calculation from Modon releases (Muheira: about AED 1bn for 475 apartments, May 2025; Golf Estates: > AED 13bn for about 1,700 homes, July 2026). Averages are not list prices.

Aldar spans mid-market family homes (Yas Park Place, Al Ghadeer Gardens) up to ultra-prime Saadiyat. Modon sits mainly in the upper segment on Hudayriyat, with more accessible apartments on Al Reem.

Aldar or Modon: which suits your investor profile?

Neither developer is better in absolute terms. The right choice depends on what you want from the purchase.

Rental yield now. An off-plan home produces no rent until handover. Aldar’s longer history means more completed stock in established rental areas (Yas, Al Reem, Al Raha), from Aldar or on the resale market. Modon has little completed freehold stock so far. For context, see our guide to off-plan vs ready property in Abu Dhabi.

Capital growth. Both developers are launching masterplans in areas still under construction, such as Marsa Al Saadiyat and Hudayriyat. These offer the most upside and also carry the most risk. Record launch sales show strong demand, but they do not guarantee resale prices. Our page on neighbourhoods for capital appreciation in Abu Dhabi adds context.

Lifestyle. Hudayriyat (golf, surfing, cycling, beaches) and Saadiyat (museums, beaches, schools) offer different ways of living, and Yas leans towards leisure and families. Visit both before you decide.

Budget under AED 2m. Aldar has more entry-level stock, such as studios and one-bedroom units on Yas. At Modon, look at Al Reem apartments. From AED 2m, a property can qualify for the 10-year Golden Visa.

Financing during construction. The Modon–ADIB product (up to 75%) is specific to Modon for now. Check your eligibility as a non-resident.

How do you verify an off-plan project in Abu Dhabi (DARI, escrow)?

Whichever developer you choose, run four checks:

Check the project and developer on DARIAbu Dhabi’s official platform shows whether a unit sits in a freehold investment zone and whether the developer holds a valid licence. It also tracks the official construction progress.
Check the escrow accountEvery off-plan project must have an escrow account at an approved bank, and your payments must go into it. As a rule, no withdrawals are allowed before 20% of construction is complete. Administrative Decision No. 24 of 2025 creates an ADREC-approved exception backed by a bank guarantee.
Check the cancellation termsAdministrative Decision No. 165 of 2025 sets the developer’s deduction on cancellation. It ranges from nil, where construction has not started for reasons outside the developer’s control, to 40% once construction is beyond 60%.
Check the SPAThe contract should state the completion date, delay penalties, fees and payment schedule. Have it reviewed by an independent lawyer.

Before you sign, read what you should know before buying property in Abu Dhabi.

Watch out

A large backlog and record launch sales guarantee neither on-time handover nor resale gains. Modon's first freehold communities have not been handed over yet, and Aldar itself slowed launches in H1 2026, citing market conditions. All figures are as published by the companies and may change when Q3 2026 results are released. This is not financial, tax or legal advice.

Frequently asked questions

*Aldar or Modon: which is the bigger Abu Dhabi developer?

In 2025 Aldar recorded AED 40.6bn of group sales, against AED 36.3bn for Modon. In H1 2026 the order reversed: Modon sold AED 26bn and Aldar AED 12.1bn, after Aldar deliberately slowed its launches. Aldar remains the more diversified group, with a 60 million sqm landbank and a large income-producing property portfolio.

*Is Modon a government-owned developer?

Modon Holding is listed on the Abu Dhabi Securities Exchange. Since 2025, L’imad Holding, which is wholly owned by the Abu Dhabi government, has held 84.75% of it, according to Modon’s FY 2025 release. So it is a listed company controlled by the state, not a government department. Aldar is also listed, with Alpha Dhabi Holding as its anchor shareholder.

*Has Modon handed over any homes yet?

Modon’s freehold residential projects mostly launched from late 2024 onwards (Maysan, Nawayef). Main construction contracts for Nawayef East and West (735 villas) were awarded in December 2025, and Property Finder lists January 2028 for Nawayef Park Views. Modon has not published an official first-handover date, so check each project’s progress on DARI before buying.

*What payment plans do Aldar and Modon offer?

Modon says its usual structures are 40/60 or 50/50 with a 10–20% down payment, and since 2026 it has offered ADIB off-plan financing of up to 75% on future projects. Aldar’s plans vary by project. For example, Yas Park Place is 5% on booking, 45% during construction and 50% on handover. Always check the plan written into your SPA.

*How can I check that an Aldar or Modon project is safe?

Use DARI, Abu Dhabi’s official platform, to confirm the developer’s licence, the freehold zone and construction progress. Make sure your payments go into the project’s escrow account. Read the cancellation terms, which Administrative Decision No. 165 of 2025 now regulates, and have the contract reviewed by an independent lawyer.

Figures are indicative as of the date shown: check them with official sources before any decision.

Aldar or Modon?

Compare the projects, not the brands. Send us the project you are looking at on WhatsApp (+971 54 236 4178). An analyst will check the licence, escrow, payment plan and price per sqm against the market with you.

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