Abu Dhabi, UAE; 30 July 2024: Modon Holding PSC, formerly Q Holding, has reported exceptional financial performance for the first half of 2024 post its acquisition of Modon Properties and ADNEC.

Modon Holding delivered a revenue of AED 2.2 billion, a year-on-year increase of 333%, and a gross profit of AED 833.2 million, a year-on-year increase of 277%. Modon Holding achieved a net profit of AED 8.74 billion including the provisional bargain purchase gain from the acquisition of Modon Properties and ADNEC. This landmark transaction marks one of the largest acquisitions in the country’s history and sets the stage for Modon Holding’s future of becoming a leading player in the real estate arena.

H.E. Jassem Mohammed Bu Ataba Al Zaabi

Chairman, Modon Holding

Leveraging the expanded scale and range of our business, Modon Holding’s first six months performance begins to show the value proposition of the recent merger. Our focus on building smart cities will further increase liveability and foster vibrant communities in Abu Dhabi and internationally.

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