Aldar Properties, the Abu Dhabi-listed real estate developer, has seen its revenue backlog in the UAE surge to AED 40.5 billion ($11.03 billion) as of September 2024, marking significant growth from AED 29.1 billion in 2023 and AED 12.1 billion in 2022, according to a report by Moody's Ratings. The company also reported an increase in its international backlog, which reached AED 8.1 billion compared to AED 7.6 billion the previous year.

Moody's Ratings affirmed Aldar’s strong credit profile, highlighting its robust liquidity and solid credit metrics, which are expected to remain stable through 2026. The developer’s growth in consolidated earnings is anticipated to partially support its AED 9.4 billion capital projects pipeline through 2025. The remaining funding will be sourced from debt and cash reserves, the rating agency noted.

Aldar's liquidity position is particularly noteworthy, with more than AED 32 billion in liquidity sources available to cover AED 10.4 billion in commitments through 2025. Moody’s also acknowledged the company’s strategic investments and property development deliveries as key contributors to its financial resilience.

To further its growth strategy, Aldar has mandated banks to arrange a global investor call and a series of fixed-income investor calls starting Monday, 6 January, aimed at engaging with international investors. Aziz Al Sammarai, Assistant Vice President at Moody's Ratings, stated, "The ratings affirmation reflects our expectation that Aldar will maintain a strong credit profile, including solid credit metrics and excellent liquidity."