A powerful magnitude 8.8 earthquake struck off Russia’s Far Eastern Kamchatka Peninsula on Wednesday, damaging buildings and generating tsunami waves up to 4 metres high.

Authorities reported several injuries in the remote Russian region, with strong aftershocks expected. The quake prompted tsunami warnings and evacuations across the Pacific, including in Japan, Hawaii, parts of the US West Coast, and several Southeast Asian nations.

In Kamchatka, ceiling panels were damaged at Petropavlovsk-Kamchatsky International Airport, but flights continued on schedule. The runway was reported to be in “satisfactory condition”. Passengers were briefly evacuated, with one person injured at the facility.

Japan, still scarred by a 2011 earthquake and tsunami, ordered evacuations along much of its eastern seaboard. In Hawaii, cars were seen leaving Waikiki Beach as Governor Josh Green urged residents to heed evacuation orders. US President Donald Trump advised Americans to remain alert for tsunami warnings.

The Philippines and Indonesia also issued tsunami advisories. Manila’s volcanology agency forecast waves of less than 1 metre, warning residents in more than 20 coastal provinces to stay away from shorelines. Indonesia’s meteorology agency issued alerts for parts of North Sulawesi, North Maluku, West Papua and Gorontalo, advising calm and caution but stopping short of ordering evacuations.

Tsunami alerts of varying levels were issued as far afield as China, Guam, Peru, and the Galapagos Islands off Ecuador.

The quake struck in one of the world’s most seismically active zones, raising fresh concerns over infrastructure resilience and emergency preparedness across the Pacific.

Aldar Properties reported a 24 per cent year-on-year increase in net profit after tax to Dhs4.1bn for H1 2025, driven by strong development sales, the recognition of a record revenue backlog, and continued expansion across its investment platform.

H1 revenue rose 42 per cent year-on-year to Dhs15.5bn, while gross profit grew 39 per cent to Dhs5.3bn.

EBITDA increased 38 per cent to Dhs5.3bn. Net profit before tax reached Dhs4.7bn, up 35 per cent year-on-year, with earnings per share rising 27 per cent to Dhs0.45.

In Q2 alone, Aldar recorded revenue of Dhs7.7bn, up 46 per cent year-on-year, and net profit of Dhs2.2bn, an increase of 25 per cent.

Group development sales hit Dhs18.3bn in H1 2025, up 31 per cent year-on-year, boosted by five new UAE project launches and robust demand for existing inventory.

The development backlog rose to a record Dhs62.3bn, including Dhs53.4bn in the UAE, providing strong visibility for revenue over the next two to three years.

Sales to overseas and expatriate customers reached Dhs14.7bn, accounting for 84 per cent of total UAE sales in H1.

In July, Aldar set a new benchmark with the Dhs400m sale of a mansion at Faya Al Saadiyat, while in May, a residential building in Mamsha Gardens was sold to Hong Kong’s Gaw Capital for Dhs586m, marking the firm’s first UAE investment.

Read: Abu Dhabi’s most expensive home: Aldar sells mansion for Dhs400m

Aldar Development revenue soars 50 per cent in H1

Revenue from Aldar Development rose 50 per cent year-on-year to Dhs11.3bn in H1 2025, with EBITDA increasing 47 per cent to Dhs3.3bn.

Q2 development revenue was up 54 per cent to Dhs5.6bn, as the group continued to execute its revenue backlog.

Project management services backlog hit Dhs86bn at the end of June, with Dhs56.9bn under construction.

UAE sales totalled Dhs17.5bn in H1 2025, rising 35 per cent year-on-year, with Q2 alone contributing Dhs9.0bn, up 32 per cent.

Internationally, Egypt-based SODIC contributed Dhs291m in revenue and Dhs536m in sales, with a backlog of Dhs6.6bn. In the UK, London Square added Dhs710m in revenue and Dhs362m in sales. London Square’s revenue backlog reached Dhs2.3bn, following multiple launches and acquisitions.

Aldar Investment delivers 18 per cent EBITDA growth

Aldar Investment reported H1 revenue of Dhs3.8bn, up 16 per cent year-on-year, with adjusted EBITDA increasing 18 per cent to Dhs1.6bn. In Q2, revenue rose 18 per cent to Dhs1.9bn, while adjusted EBITDA climbed 26 per cent to Dhs789m.

Assets under management reached Dhs47bn, supported by strategic acquisitions including commercial and residential properties in Masdar City.

High occupancy and strong rental growth across asset classes drove performance, with commercial assets at 99 per cent occupancy and residential at 98 per cent.

Retail EBITDA increased 12 per cent in H1 to Dhs277m, with Yas Mall occupancy at 98 per cent and footfall up 15 per cent.

Logistics EBITDA rose 14 per cent to Dhs35m, with further growth expected from newly acquired ALMARKAZ assets and upcoming cold storage facilities.

Hospitality occupancy stood at 70 per cent, with RevPAR up 3 per cent and ADR up 8 per cent. EBITDA declined 4 per cent year-on-year in H1 to Dhs171m, due to asset redevelopments.

Aldar Education’s EBITDA rose 9 per cent to Dhs127m, with enrolment reaching 37,000. Aldar Estates’ EBITDA increased 24 per cent to Dhs192m, driven by synergies across its integrated property and facilities management portfolio.

Robust balance sheet and liquidity

As of June 30, Aldar reported Dhs12.2bn in free cash and Dhs17.5bn in undrawn bank facilities.

A new Dhs500m revolving credit facility raised H1 capital generation to Dhs16.8bn. Customer net promoter score (NPS) rose by 27 per cent during Q2.

Aldar received an MSCI ESG rating upgrade to ‘A’ and was included in the FTSE4Good Index. The company also met its 2026 Emiratisation target ahead of schedule, with Emiratis now representing 44.6 per cent of its workforce.

Environmental achievements include a 30 per cent improvement in energy use intensity and a 24 per cent reduction in embodied carbon. Aldar also recycled 96 per cent of construction and demolition waste.

Aldar partnered with Emirates Steel to source hydrogen-based rebar for Abu Dhabi’s first net zero carbon mosque and signed a Fitwel-certified health-focused masterplan for Fahid Island, which also received LEED Platinum pre-certification.

Commenting on the results, Aldar chairman Mohamed Khalifa Al Mubarak said the company is well-positioned to capitalise on demand for high-quality real estate, supported by the UAE’s macroeconomic fundamentals and growing global profile.

Group CEO Talal Al Dhiyebi added that the company will continue to focus on scaling its development and investment platforms while aligning residential launches with market demand.

Dubai Taxi Company (DTC) reported a 33 per cent year-on-year rise in net profit to Dhs105.4m for Q2 2025, as rising passenger demand and expanded fleet operations supported top-line growth.

Revenue for the quarter grew 18 per cent to Dhs625.2m, with earnings before interest, tax, depreciation, and amortisation (EBITDA) rising 30 per cent to Dhs180.6m, reflecting stronger operational efficiency and lower promotional costs at subsidiary Connectech.

The EBITDA margin climbed three percentage points to 29 per cent in Q2 2025.

For H1, revenue rose 11 per cent to Dhs1.2bn and the EBITDA margin stood at 28 per cent.

The company’sboard approved an interim dividend of Dhs160.7m, or 6.43 fils per share, for H1 2025, in line with DTC’s policy to distribute at least 85 per cent of annual net profit in semi-annual payouts.

The dividend is scheduled for distribution in August.

DTC’s segment performance

DTC’s core taxi business posted Q2 revenue of Dhs539.7m, up 18 per cent year-on-year, driven by fleet expansion and high utilisation.

As of June, the operational taxi fleet stood at 6,210 vehicles, including 335 fully electric taxis.

The limousine segment generated Dhs30.5m in Q2 revenue, an 8 per cent increase year-on-year. Across the taxi and limousine business, DTC completed 13.6 million trips in the quarter, marking a 19 per cent jump over the same period last year.

The bus segment saw revenue decline by 12 per cent to Dhs31.3m due to changes in the revenue recognition cycle. The company clarified that the changes did not affect overall annual contract values.

Meanwhile, the delivery bike segment recorded the fastest growth, with revenue more than doubling year-on-year to Dhs18.2m, reflecting continued demand in the on-demand delivery space.

DTC’s total operational fleet rose 23 per cent year-on-year to 10,180 vehicles by the end of June.

Balance sheet and capital allocation

As of June 30, DTC maintained a cash balance of Dhs236m, including Wakala deposits, and reported a net debt-to-EBITDA ratio of 1.2x, underscoring a strong financial position.

Strategic Initiatives

A key highlight of the quarter was the onboarding of over 6,000 taxis onto the Bolt e-hailing platform, as part of a broader digital strategy to transition 80 per cent of taxi trips in Dubai to e-booking.

DTC also launched 200 all-electric BYD SEAL taxis through its partnership with Al-Futtaim Electric Mobility, reinforcing its goal of full electrification by 2040 in line with the UAE’s Net Zero 2050 target.

DTC and Bolt further deepened collaboration through a tie-up with talabat, offering talabat pro users exclusive ride discounts to integrate lifestyle and transport services.

Chairman Abdul Muhsen Ibrahim Kalbat said the results reflected “continued strength in DTC’s operating model” and its alignment with Dubai’s dynamic infrastructure and population growth.

CEO Mansoor Alfalasi highlighted growing demand for smart mobility and described the Bolt partnership as a key step toward building the UAE’s largest e-hailing ecosystem.

DTC expects growth to remain robust across all segments, supported by rising tourism, infrastructure investment, and its ongoing partnership with Dubai Airports.

Dubai Municipality has signed a memorandum of understanding (MoU) with BiOD Technology, a subsidiary of DUBAL Holding, to convert used cooking oil and food grease into renewable biodiesel, in a move aimed at advancing the emirate’s circular economy and environmental sustainability goals.

Under the agreement, BiOD Technology will collect used cooking oils (UCO) and fats, oils, and grease (FOG) from across Dubai and process them into B100 biodiesel, a clean, renewable fuel.

The initiative is designed to reduce environmental pollution, protect sewage infrastructure, and lower the costs of wastewater treatment.

“This partnership represents a significant step in our mission to advance Dubai’s environmental agenda through innovative and sustainable waste-to-energy solutions,” said Adel Al Marzooqi, CEO of the Waste and Sewerage Agency at Dubai Municipality. “By turning waste into a valuable energy resource, we contribute effectively to Dubai’s Vision 2030 for environmental sustainability.”

BiOD-Dubai Municipality collab supports Dubai’s circular economy

BiOD chairman Ahmed bin Fahad Al Muhairi said the collaboration reinforces a shared commitment to practical, scalable solutions that support Dubai’s circular economy. “We strive to build a service ecosystem dedicated to making a positive global impact,” he said.

CEO Shiva Vig added that BiOD is leveraging advanced technology to transform food-based waste into high-quality biodiesel, and that the partnership will serve as a foundation for broader recycling and sustainable waste management initiatives.

The agreement aligns with Dubai’s long-term environmental strategies and supports local green economy growth, further strengthening the emirate’s transition to cleaner energy sources.