According to Amac News, Based on a statement from Modon, the company's revenue reached AED 6.5 billion in 2024, representing a 637 percent increase compared to the previous year, primarily driven by the acquisition of ADNEC and Modon Properties.
Gross profit increased to AED 2.4 billion, reflecting a 500 percent year-on-year growth and demonstrating strong business fundamentals.
Net profit reached AED 9.4 billion, which includes a one-off bargain gain from acquisitions.
Five new real estate projects were launched on Hudayriyat Island and Reem Island, generating AED 13 billion in sales, underscoring Modon's strength in the real estate sector.
The revenue backlog reached AED 25.3 billion, ensuring long-term revenue security for the next three years.
12.2 million visitors were attracted to Modon's destinations.
Modon expanded its global footprint with strategic investments in Egypt, Spain, the United Kingdom, and Morocco.
Jassem Mohammed Bu Ataba Al Zaabi, Chairman of Modon Holding, stated, "2024 was a defining year for Modon, delivering unprecedented growth and strengthening Abu Dhabi's position as a global investment hub."
Bill O’Regan, Group Chief Executive Officer of Modon Holding, added, "Strategic acquisitions have been a key driver of our performance, setting a strong foundation for future growth. With a robust balance sheet, liquidity, and an expansive land bank, Modon is well-positioned to capitalize on emerging opportunities and sustain long-term value creation."