Modon H1 2026: Record AED 26 Billion in Sales and the UAE’s Biggest-Ever Project Launch

A Half-Year That Rewrote the Record Books

Modon Holding reported record first-half results for the six months ended June 30, 2026, and the numbers are large enough to warrant genuine attention beyond the usual quarterly earnings cycle. Group revenue hit a semi-annual record of AED 9.2 billion, up 40% year-on-year. Net profit reached AED 2.2 billion. Real estate sales grew 2.6 times year-on-year to AED 26 billion. And the launch of a single project, Hudayriyat Golf Estates, generated AED 13 billion in sales within days — the largest single-project residential launch in the UAE’s history.

Bill O’Regan, Group Chief Executive Officer of Modon Holding, put the scale of the half plainly: “Delivering a record AED 9.2 billion in revenue with AED 2.2 billion in net profit demonstrates the scale of Modon’s ambition, its capability to deliver on commitments, and a business model built on sound foundations.”

The Headline Numbers

The AED 65.4 billion revenue backlog, up 42% since the end of 2025 alone, is the figure that matters most for anyone assessing Modon’s delivery capacity over the coming years. It provides multi-year earnings visibility independent of how the broader market performs in any single quarter, and 95% of it sits within development projects across the UAE and Egypt already under construction or contracted.

Hudayriyat Golf Estates: A Launch Without Precedent

The standout event of the half was unambiguous. Abdulla Al Sahi, Group Managing Director of Modon Holding, confirmed the scale directly: “An exceptional performance from real estate positioned Modon as the largest developer in Abu Dhabi in terms of sales value during H1. This included the UAE’s highest-ever single-project sales value for the launch of Hudayriyat Golf Estates, with AED 13 billion achieved within days.”

That single figure — AED 13 billion in days — places Hudayriyat Golf Estates above every previous off-plan launch record in the UAE, including Modon’s own earlier Wadeem and Bashayer sell-outs on the same island. It confirms Hudayriyat Island’s continued position as Abu Dhabi’s most active off-plan destination, now anchored by a golf-focused community alongside the island’s existing portfolio of Nawayef Village, Nawayef Park Views, Wadeem, Bashayer, Al Naseem, and the Nawayef East and West communities.

Tara Park on Al Reem Island added further momentum, selling out completely across its two phases launched in mid-March and mid-April — confirming that Modon’s sell-out performance in H1 2026 extended well beyond a single flagship project. Combined, Modon’s Abu Dhabi sales of AED 23 billion made it the highest-selling developer in the emirate across both Q1 and Q2 2026. For buyers and investors evaluating active Hudayriyat Island portfolio, this level of sell-through velocity across multiple simultaneous launches is one of the clearest demand signals available anywhere in Abu Dhabi’s current market.

Beyond Real Estate: A Genuinely Diversified Platform

While real estate remained the primary earnings driver, with segment revenue rising 56% year-on-year to AED 5.7 billion, Modon’s other three business lines all contributed positively to group performance.

Events, Catering and Tourism grew segment revenue 25% to AED 2.8 billion, hosting 484 events and attracting more than 2.7 million visitors across UAE and UK venues, while serving 24.9 million meals, up 5% year-on-year. Asset and Investment Management revenue rose 13% to AED 361 million, supported by 96% occupancy across owned assets, with international projects including 2 Finsbury Avenue in London and Harborside 4 in New Jersey continuing to progress. Hospitality revenue from owned and operated hotels grew 8% to AED 388 million, with softer March and April demand linked to regional travel disruption offset by higher domestic and staycation demand.

That breadth is genuinely relevant to Modon’s credibility as a long-term development partner. A developer whose real estate business is backed by growing, profitable events, asset management, and hospitality divisions carries materially lower delivery risk on its off-plan commitments than one dependent on residential sales alone.

What This Means for Off-Plan Buyers Specifically

Two strategic updates from the half carry direct relevance for anyone currently holding or considering a Modon off-plan purchase. In July 2026, Modon partnered with Abu Dhabi Islamic Bank to introduce Abu Dhabi’s first off-plan home financing solution, enabling eligible buyers to access up to 75% financing throughout construction and through to handover — a structural first for a market historically dominated by cash purchases. And the group’s AED 65.4 billion backlog, combined with AED 8.6 billion in unrestricted cash and a conservative net debt to EBITDA ratio of just 0.18x, provides strong financial reassurance around Modon’s capacity to deliver on its current construction commitments across Hudayriyat Island and beyond.

H.E. Jassem Bu Ataba Al Zaabi, Chairman of Modon Holding, framed the half within the group’s broader positioning: “Strong results across our integrated portfolio highlight the institutional strength, operational excellence and strategic foresight that continue to define Modon’s success.” For buyers wanting to understand how this financial strength translates into delivery confidence for specific Hudayriyat Island projects, consulting a capital appreciation specialist in Abu Dhabi with visibility across Modon’s full construction pipeline is the most useful next step.

Conclusion

Modon’s H1 2026 results confirm the group as the largest developer in Abu Dhabi by sales value for two consecutive quarters, anchored by a launch that set a new national record and a revenue backlog that has doubled in a single year. AED 26 billion in real estate sales, AED 65.4 billion in backlog, and a diversified platform spanning events, hospitality, and asset management all point toward a developer executing at a scale that matches, and in some respects now exceeds, the market’s broader growth story. For anyone tracking Hudayriyat Island’s continued momentum, this half-year confirms the demand behind it shows no sign of slowing.