Aldar Properties reported a 21% increase in quarterly net profit after tax to AED 2.25 billion, alongside a 16% rise in revenue, supported by continued property development activity and strong rental income.

However, new UAE property sales declined 45% year-on-year, shifting investor attention towards the company's sales performance in the final quarter of 2026.

According to Nagham Hassan, Market Analyst at etoro, Aldar's latest results reflect the strength of its existing development pipeline, with approximately three quarters of revenue generated from the construction of previously sold properties.

The company's rental business also delivered solid growth, with adjusted EBITDA increasing 27% and occupancy remaining close to full capacity.

Meanwhile, its hospitality portfolio faced challenges as regional travel disruptions weighed on hotel occupancy.

Despite the slowdown in new sales, Aldar launched seven projects during the third quarter, helping bring year-to-date sales above AED 20 billion. Its development sales backlog remained steady at AED 71.6 billion, providing visibility over future earnings.

Aldar also reported AED 38 billion in available liquidity, including undrawn credit facilities, supporting its continued investment in land acquisitions and development projects. The company added AED 5.3 billion in land during the year, including new plots in Dubai.

Hassan noted that while Aldar's existing backlog is expected to support profitability over the coming years, sustained growth will increasingly depend on the company's ability to generate new sales.

"The bar now moves to new sales, because a backlog that stops growing today means slower earnings growth further out, and investors will want to see the third-quarter pickup carry through to year-end," Hassan said.