Apollo Global Management’s managed funds announced a $1 billion investment in subordinated hybrid notes issued by Aldar Properties PJSC, a leading UAE‑based real‑estate developer and investment manager. The transaction marks Apollo’s fifth investment in Aldar since 2022 and brings total commitments to approximately $2.9 billion, including the repayment of $500 million in perpetual subordinated notes that were issued in the first transaction.
The new capital provides Aldar with long‑term, flexible funding to support land‑bank replenishment, strategic expansions and acquisitions. Aldar’s ownership in its investment vehicle, Aldar Investment Properties (AIP), increased to 90%, and its develop‑to‑hold pipeline is now valued at close to $5 billion, underscoring the company’s growth trajectory and the depth of its asset base.
Aldar reported a 36% jump in 2025 profit, driven by record annual sales. Revenue surged 47% year‑on‑year to Dh33.8 billion, while net profit margins contracted to 22.2% from 23.9% the previous year, reflecting modest cost inflation and a shift in revenue mix. The investment therefore supports Aldar’s ability to maintain profitability while pursuing expansion.
Management highlighted the strategic significance of the deal. Faisal Falaknaz, Aldar’s Group Chief Financial and Sustainability Officer, said, "This transaction highlights the strength of our long‑standing partnership with Apollo and the continued confidence of major institutional investors in Aldar's strategy, financial management and growth trajectory." He added, "The issuance provides Aldar with long‑term, flexible capital that enhances balance sheet resilience and supports our ability to capitalise on attractive opportunities across our core markets."
Apollo partner Jamshid Ehsani noted, "Completing our fifth investment with Aldar speaks directly to Apollo's ability to structure flexible capital solutions that are responsive to the needs of both our corporate clients and our investors. Since our first transaction in 2022, Aldar has gone from strength to strength, with robust performance and portfolio expansion overseen by an experienced management team. This latest investment reflects Apollo's continued commitment to Abu Dhabi and the broader region."
The deal is one of the largest foreign direct investments in Abu Dhabi’s private sector and the largest corporate hybrid private placement in the region, reinforcing Apollo’s strategy of partnering with high‑quality global real‑estate operators to generate stable, recurring income and deepen its presence in the Middle East market.
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