Abu Dhabi sovereign wealth fund Mubadala Investment Company has boosted its stake in Aldar Properties as the emirate's biggest developer continues to expand its operations.
Mubadala, through its subsidiary Mamoura Diversified Global, has increased its shareholding in Aldar from 27.01 per cent to 28.03 per cent of the company’s issued share capital, Aldar said in a filing on Wednesday to the Abu Dhabi Securities Exchange, where its shares trade.
The move “reflects a series of share purchases executed through its trading account” on ADX between May 8 and August 11, Aldar said. The 1 per cent increase would amount to roughly 78.6 million shares, according to calculations based on ADX data.
Aldar also said that the change in shareholding “results solely from independent market transactions undertaken by Mubadala and is neither the outcome of, nor related to, any corporate action initiated or undertaken by Aldar”.
Aldar, whose biggest shareholder is Alpha Dhabi Holding, last month reported a 10 per cent annual jump in its second-quarter profit. Revenue rose 5 per cent during the period, despite uncertainty caused by the Iran war.
Net profit attributable to equity holders of the company for the three months to the end of June climbed to Dh2.16 billion ($580 million). Revenue and rental income during the quarter increased by 5 per cent year-on-year to Dh8.1 billion.
Aldar's group development backlog reached Dh71.6 billion at the end of June, including Dh59.9 billion in the UAE, which is expected to drive the company's revenue recognition over the next two to three years.
Sales in the second quarter and the first half of 2026 declined annually by 43 per cent and 34 per cent, respectively, “reflecting a measured approach to new launches in response to prevailing market conditions in the UAE”, the company said at the time.
Aldar is also active in Egypt and London, where sales surged 171 per cent and 236 per cent, respectively, during the first half, partly offsetting lower sales in the UAE.
The company, which unveiled new projects in the first six months of the year, plans to continue the launch activity in the second half, focusing on luxury and middle-income segments.
Aldar and Mubadala have also collaborated on several projects. In February, they completed a strategic joint venture to create a Dh10 billion retail platform. The platform, to be managed by Aldar, will consolidate Yas Mall and The Galleria Luxury Collection, with a total gross leasable area of 260,000 square metres. In April, the two companies also bought The Link at Masdar City for Dh654 million through a joint venture they set up in 2024.
In December last year, Aldar and Mubadala also announced a Dh60 billion collaboration to expand Abu Dhabi’s financial district on Al Maryah Island. The deal includes adding office space, housing and retail units.
They also jointly launched an investment management platform to connect global institutional investors with property and infrastructure opportunities in the UAE and the Gulf region.
