Abu Dhabi’s Modon posts Dhs3.9bn 2025 in net profit, revenue more than doubles
During 2025, L’IMAD Holding Company, wholly owned by the Abu Dhabi government, acquired an 84.75 per cent stake in the company
18 February, 2026
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Abu Dhabi-based Modon Holding posted a net profit of Dhs3.9bn ($1.06 bn) for 2025, as revenue more than doubled, the company said.
Revenue for the year reached Dhs13.8bn, up 2.1 times from 2024. The company said growth was driven mainly by its real estate division, alongside contributions from hospitality, asset management and events businesses.
Adjusted EBITDA rose 2.5 times year-on-year to Dhs4.9bn, with margins expanding to 35.2 per cent. Excluding a one-off gain booked in the prior year, net profit increased 19.9 times, the company said.
Real estate sales climbed 2.8 times to Dhs36.3bn, including Dhs29.8bn in Abu Dhabi. Modon’s revenue backlog stood at Dhs46bn at year-end, up 1.8 times from a year earlier.
Development sales accounted for 93 per cent of the backlog.
The group ended 2025 with a net cash position of Dhs1.8bn. Total assets rose 15 per cent to Dhs87bn, while total equity increased 8 per cent to Dhs55bn.
Modon was formed in February 2024. During 2025, L’IMAD Holding Company, wholly owned by the Abu Dhabi government, acquired an 84.75 per cent stake in the company.
Read: Where Abu Dhabi’s key assets land after the L’IMAD–ADQ restructure
“Building on the sustained growth momentum of recent years, 2025 marked a new phase of accelerated strategic transformation for Modon,” said Jassem Mohamed Bu Ataba Al Zaabi, chairman of Modon Holding.
He added that the group’s integrated platform across development, investment and asset management had strengthened its institutional readiness to capture opportunities locally and internationally.
“Aligned with Abu Dhabi’s ambitious long-term agenda, Modon continues to ensure its strategy supports the emirate’s broader economic development objectives,” Al Zaabi said, citing a focus on expanding strategic partnerships and reinforcing the group’s position as a global developer, operator and investor.
Real estate drives earnings
Revenue from the real estate segment rose 2.6 times to Dhs7.4bn. The company said it procured Dhs32bn in construction and consulting contracts during the year.
In Abu Dhabi, developments on Reem Island and Hudayriyat Island contributed to sales growth. In Egypt, the initial launch at Ras El Hekma generated Dhs5.8bn in sales across 2,109 units. In Spain, Modon continued land sales at La Zagaleta.
Revenue in asset and investment management rose 13.2 per cent to Dhs655m, supported by 97 per cent occupancy across owned assets.
Hospitality revenue increased 38.9 per cent to Dhs792m, with average occupancy at 71 per cent. The group’s hotel portfolio comprised 7,137 keys across Abu Dhabi, Europe and Africa at the end of 2025.
In December, Modon agreed to divest its indirect stake in Icon Hotel Investment Ltd, subject to regulatory approvals.
Events, catering and tourism revenue doubled to Dhs5.01bn. The company hosted 896 events and recorded 6.3 million visitors across its venues. The catering division served 51.6 million meals.
In May 2025, the group consolidated Arena Group, expanding its international events operations.
International investments
During the year, Modon acquired a 50 per cent stake in the 2 Finsbury Avenue development in London. It also completed the acquisition of Arena Events Group.
In the US, the company invested in Wellington Lifestyle Partners and entered a joint venture with Related Companies and Panepinto Properties to develop Harborside 4, a residential tower in Jersey City, New Jersey.


















