Aldar Properties has raised USD 1 billion through subordinated hybrid notes issued to Apollo Global Management, taking Apollo’s total investment in the developer to USD 2.9 billion since 2022. The private placement strengthens Aldar’s capital structure and increases its stake in Aldar Investment Properties to 90%.
The transaction follows a USD 1 billion hybrid note issuance in January, a similarly sized bond, and a USD 290 million green sukuk last year. Earlier this month, Aldar reported a 36% rise in 2025 net profit to AED 7.61 billion, as revenue climbed 47% to AED 33.8 billion. The development revenue backlog reached AED 71.7 billion, reflecting continued strength in the UAE real estate market.
Gulf Economist Staff Writer