Modon

Modon in its present form is new. In August 2023 the Abu Dhabi state investor ADQ and IHC proposed folding Modon Properties and the exhibitions group ADNEC into the listed company Q Holding, and the enlarged business has reported as Modon Holding since its formation in February 2024. During 2025 L'imad Holding, which is wholly owned by the Abu Dhabi Government, acquired 84.75% of the company. The older Q Properties brand, which launched Reem Hills, now sits inside this group.

It is a conglomerate, not a pure housebuilder. The group reports four segments: real estate; hospitality; events, catering and tourism; and asset and investment management. In 2025 the events and catering segment alone produced about AED 5 billion of the group's AED 13.8 billion revenue. In property, its centre of gravity is Abu Dhabi: Hudayriyat Island, where it is master developer and already operates leisure venues such as Circuit X, 321 Sports and Trail X, and Reem Island. Abroad it is developing Ras El Hekma on Egypt's north coast and owns La Zagaleta in Spain, with investments in London and the United States.

Sales have been very fast. Real estate sales reached AED 36.3 billion in 2025, of which AED 29.8 billion was in Abu Dhabi. In 2026 the pattern continued while Dubai slowed: Tara Park on Reem Island sold out in April for nearly AED 2 billion, Hudayriyat Golf Estates took more than AED 13 billion within days of its July launch, and the final phase of Bashayer sold out in a day. In July 2026 Modon and Abu Dhabi Islamic Bank introduced what they described as Abu Dhabi's first off-plan home finance, and Wadeem Gardens launched in September with finance of up to 75% available during construction.

Most of its residential releases have sold within days. Phase one of Maysan on Reem Island sold out within a few hours in October 2024; the Nawayef Village townhouses sold out within hours in May 2025 for about AED 2 billion; Muheira sold out on its launch day the same month; and the Wadeem residential plots sold out within 72 hours in July 2025. At Hudayriyat Golf Estates Modon reported 1,700 homes sold within days of the July 2026 launch, 15% of them to buyers not resident in the UAE. In December 2025 it awarded a AED 5 billion main construction contract for 735 villas at Nawayef East and Nawayef West. The group is led by Group Chief Executive Bill O'Regan, and Ibrahim Al Maghribi is Chief Executive of Modon Real Estate.

What cannot yet be shown is a delivery record at this scale. The 2025 results release and the 2026 announcements we reviewed report sales, backlog and profit but no residential handover figures, and the Hudayriyat communities behind those sales are recent launches. The revenue backlog rose to AED 65.4 billion by mid-2026. That is a large volume of homes still to be built by an organisation that is two years old as a combined entity.