Official name
Modon Holding
ADX · MODON
Modon Holding
- Research depth
- Review ready · verified figures appear when approved
- Sector lens
- Real estate
- Reporting context
- FY2025 audited; H1 2026 primary statutory evidence not located as of 2026-08-10
Company overview
- Exchange
- ADX
- Ticker
- MODON
- ISIN
- Not yet available in the public research layer.
- Market identifier code (MIC)
- XADS
- Stable research ID
- ADX-MODON
- Industry evidence
- Integrated real estate development, asset management, hospitality, events, catering and tourism
- Sector
- Real estate
- Instrument type
- Listed equity
- Research status
- Review ready · verified figures appear when approved
- Latest financial period
- FY2025 audited; H1 2026 primary statutory evidence not located as of 2026-08-10
- Identity evidence checked
- 2026-08-10
- Identity checked
- Identity revalidation is due; this dated record is not proof of current listing status
- Listing lifecycle
- Primary active route confirmedA dated identity record does not prove the current listing state after its verification date.
Issuer participationProfile foundation available
Modon Holding · What the issuer can provide
- current identity confirmation
Why this company is in the directory
Coverage follows a reconciled listed-security identity and dated evidence. Inclusion describes research scope only; it is not a ranking, recommendation or claim of complete financial coverage.
- Identity reconciliation
- Exchange and ticker matched the research registry
- Current public research layer
- Review ready · verified figures appear when approved
- Evidence boundary
- Identity record checked: 2026-08-10
Company evidence map
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Review ready · verified figures appear when approvedStale
Open the Company BriefListed-security identity
Revalidation is due; the dated record is not proof of current listing status.
Checked: 2026-08-10→AvailableIssuer profile
Verified public issuer fields are available.
→AvailableSource documents
3 source documents are linked to public facts.
→MissingCompany activity
No linked activity currently passes every public source-document check.
→AvailableOfficial sources
A rights-reviewed official identity source is linked.
→Public identity dossier
Verified listing identity
The fields below come from the current public company registry and any human-published issuer profile. Empty issuer-contact fields stay visibly missing until source and publication-rights review are complete.
- Official listed name
- Modon Holding Available
- Exchange
- ADX Available
- MIC
- XADS Available
- Ticker
- MODON Available
- ISIN
- Missing Missing
- Instrument
- Listed equity Available
- Sector
- Real estate Available
- Industry
- Integrated real estate development, asset management, hospitality, events, catering and tourism Available
- Identity checked
- 2026-08-10 Available
- Official website
- Missing Missing
- Investor relations
- Missing Missing
- Registered address
- Missing Missing
- Public contacts
- Missing Missing
Company activity context
Only exact-security, human-published activity that passes every public source-document check can appear here.
No linked update currently passes every public gate.
Open the full chronologyPublic identity passport
Required identity fields are shown individually with their evidence state. A public link is not reuse permission, and a blank is never converted to a guess.
Ticker
MODON
Exchange and MIC
ADX · XADS
ISIN
Not available in the public evidence layer
Instrument type
Listed equity
Sector and industry
Real estate · Integrated real estate development, asset management, hospitality, events, catering and tourism
Listing status
Primary active route confirmed
Official website
Not available in the public evidence layer
Investor relations
Not available in the public evidence layer
Registered address
Not available in the public evidence layer
Public email
Not available in the public evidence layer
Public phone
Not available in the public evidence layer
Business description
Not available in the public evidence layer
Verified issuer profile
A verified public issuer profile has not been published yet.
Business model
Abu Dhabi Government-controlled integrated city builder and operator. Develops and sells masterplanned communities, plots and infrastructure; owns and leases income assets; owns/operates hotels; runs exhibition venues, events, temporary infrastructure, catering, tourism and media services; and invests through international JVs. Economics depend on sales/backlog conversion, construction delivery and collections, recurring occupancy/NOI, hotel rates, venue/event volumes, catering margins, working capital, capital commitments and capital allocation.
Modon Holding — a developer whose second-largest business is exhibitions and catering
Selling homes is only about half of what this company does
Of FY2025 revenue of AED 13.829 billion, real estate development contributed AED 7.403 billion and events, catering and tourism — the ADNEC venue, exhibition, catering, media and temporary-infrastructure businesses — contributed AED 5.009 billion. Hospitality added AED 791.771 million and asset and investment management AED 654.658 million. More than a third of the group's turnover therefore comes from filling halls, not from handing over apartments.
The five-year record belongs to three different companies
FY2021 is Al Qudra Holding. FY2022 and FY2023 are Q Holding. On 27 February 2024 the group acquired Modon Properties, ADNEC, MIZA and other assets in exchange for 9,491.481 million new shares, and FY2024 carries an AED 9,192.243 million bargain-purchase gain that is not recurring earnings. FY2025 is the first full post-formation year, yet Theta and Arena entered through common-control pooling from 1 May 2025, and H1 2026 includes PEI from 26 March 2026 with a provisional purchase-price allocation open until March 2027. No growth rate spanning these dates is organic.
Profit rose in the first half of 2026 while cash left
H1 2026 revenue was AED 9.188 billion and profit attributable to owners AED 2.163 billion, but net operating cash flow was negative AED 3.921 billion. Cash from operations before working capital was positive AED 2.647 billion; working capital then absorbed AED 6.552 billion, of which trade and other receivables took AED 2.689 billion and due-from-related-party balances AED 2.738 billion. Of AED 12.303 billion of cash and bank balances, the accessibility proxy after escrow and other restrictions was AED 8.631 billion. Escrow alone held AED 3.517 billion.
The Abu Dhabi Department of Finance is the group's largest single debtor
Gross due-from-related-party balances were AED 10.797 billion at 30 June 2026: AED 7.269 billion owed by the Department of Finance and AED 2.464 billion by an associate. L'Imad Holding Company PJSC, wholly owned by the Abu Dhabi Government, completed the purchase of the former IHC and ADQ stakes on 30 October 2025 and holds 84.76%. A new AED 1.000 billion parent loan was drawn at six-month EIBOR plus 1%, and an AED 1.517 billion facility is secured on the London International Exhibition Centre. Flagship exposures are Reem Island, Hudayriyat Island and Ras El Hekma; infrastructure commitments were AED 20.743 billion.
Where the evidence stops at Modon
Two official disclosures count the hotel portfolio differently — 7,137 keys in FY2025 and 3,613 keys in H1 2026 — on portfolio definitions that were never reconciled. The board proposed no FY2025 dividend, but the final shareholder resolution was not located, so approval is unproven rather than granted. Recurring net operating income, lease terms, hotel occupancy and rate metrics, and project-level backlog conversion against the AED 65.4 billion management backlog are absent. Nothing here is a price, a value or an instruction to act.
How this issuer fits the sector
ADX · MODON
Modon Holding
Post-transformation group combining real estate with hospitality, events, catering, tourism and asset or investment management.
Portfolio, projects and operating assets
Named portfolio evidenceThe transformed group is broader than a developer and must be read through four operating pillars.
Four operating pillars
Real Estate · Events, Catering & Tourism · Hospitality · Asset & Investment Management
FY2025 transformed perimeter
Modon Properties · ADNEC · MIZA Investments · BDCG Holdings · Royal Catering · LA Zagaleta
Comparison boundary
Pre-combination periods ≠ post-combination periods until consolidation and purchase accounting are reconciled
How to read this company's finances
Numerical values remain in the separate source-document checkHow money moves through the business
Real estate now sits beside events, catering, tourism, hospitality and investment management. The transformed consolidation perimeter means headline group growth is not automatically like-for-like.
Four questions before reading a headline
- How much activity comes from development and how much from retained operations?
- Are acquisitions, disposals and fair-value movements separated from recurring operations?
- Are development sales, rent, hospitality and service income shown in their exact segments?
- Is cash generated by the parent or trapped in subsidiaries, projects or escrow accounts?
Rebuild the post-transformation perimeter
- Map real estate, hospitality, events, catering and investment management to the exact consolidated perimeter.
- Separate inherited, acquired and newly consolidated activity before any period comparison.
Three separate evidence layers
Official route
Issuer IR or business routeUse this route to inspect the issuer or listing evidence. A public link is not permission for automated collection.
Open official route ↗Dubaist operating analysis
Original source-linked explanation of the issuer's operating position within the sector.
Open the 16-company sector studyVerified financial facts
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Review the financial evidence stateOfficial-source snapshot
What the company does and where to verify it
A manually reviewed, paraphrased snapshot from issuer and official market records. Each field keeps its exact source and verification date.
No public snapshot has passed this separate review yet.
Official website, investor-relations, market-record and public contact fields remain unavailable here until their exact source, current value and reuse boundary are reviewed. Nothing is inferred from aggregators or another company.
Developer analytical model
The metrics below define the correct analytical lens for this business model. They contain no company values: a value appears only after official-document provenance and editorial verification.
- Presales
- Contracted property sales for the stated period, geography and cancellation policy.
- Backlog
- Unrecognized contracted revenue with the issuer's scope, expected timing and cancellation basis.
- Handovers
- Units delivered in the period, kept separate from launches, sales and revenue recognition.
- Land bank
- Developable land area or value on the issuer-disclosed ownership and valuation basis.
- Recurring income
- Rental, hospitality or service income shown separately from build-to-sell development.
- Leverage
- Gross and net debt with accessible cash, reporting scope and development obligations stated.
What changed
Full company chronologyVerified company activity
Only exact-security activity that passes the automatic source, locator, date and localization gates is shown. Exceptions remain unpublished. Each date keeps its lifecycle meaning.
No linked activity currently passes every public source-document check.
Sources
Identity evidence
- Identity evidence
- Exchange-hosted evidence
- Identity record checked
- 2026-08-10
- Evidence host
- apigateway.adx.ae
Research collections
This company appears in the dated public collections below. Membership describes coverage and evidence context; it is not a ranking or recommendation.
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Property developers
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UAE real-estate business models
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Identity revalidation due
Dated public identity checks earlier than 18 August 2026; this does not assert current listing status.
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Research products
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- Presales
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Emaar Development
Majority-owned listed subsidiary of Emaar Properties focused on prime UAE build-to-sell residential and commercial communities. It launches projects, presells units, receives buyer advances into escrow, funds construction, recognises IFRS 15 revenue as obligations are performed, hands over units and provides development management services. Economics depend on sales price and mix, launches, collections and cancellations, construction cost and progress, handovers, backlog margin/timing, land/JV/JDA terms, escrow accessibility and related-party arrangements with the listed parent and common-control entities.
- Presales
- Backlog
- Handovers