Modon Properties, a construction company, emerged in the United Arab Emirates in 2018. The developer focuses on creating residential developments and resort areas in the UAE capital. The developer aims to boost the region's economic and social progress as well as enhance its cultural heritage.
H.E. Jassem Mohammed Bu Ataba Al Zaabi, Chairman of the Board of Directors of Modon Properties as well as the Abu Dhabi Department of Finance. Managing Director and member of the Board of Directors who previously headed Modon Properties and contributed significantly to the company's important projects — H.E. Abdullah Al Sahi. The Group Chief Executive Officer is Bill O'Regan, who takes office in January 2024 and has over 25 years of experience in the property industry.
Modon Properties aims to be a leader in property development in the UAE. The company implements modern and sustainable projects that preserve cultural heritage and contribute to the prosperity of the region. The mission is to develop and construct projects that improve the quality of life, provide comfort and meet the current requirements of sustainable development. Values: innovation, quality, sustainable development, respect for cultural heritage and customer orientation.
In 2024, Modon Holding PSC showed impressive financial performance, indicating significant growth.The Holding strengthened its position in the international market by acquiring La Zagaleta S.L. This company managed one of the most prestigious residential developments in Europe, located on the Costa del Sol in Spain.The deal confirmed Modon Properties' strategy of global expansion and strengthening its position in the luxury property segment.
The company's revenues reached AED 6.5 billion (about $1.77 billion) in 2024, showing a growth of 637% year-on-year. Gross profit was AED 2.4 billion (approximately $653 million), up 500% year-on-year, indicating the stability of the business.Net profit, including one-off benefit from a favourable transaction, reached AED 9.4 billion (approximately $2.56 billion).
Key achievements and initiatives in 2024: five new projects were initiated on Hudayriyat Island and Al Reem Island, generating sales of AED 13 billion (approximately $3.54 billion); the company made strategic investments in Egypt, Spain, the UK and Morocco, strengthening its global footprint; Modon's properties attracted 12.2 million visitors, highlighting the company's contribution to tourism and event management in Abu Dhabi.
Bill O'Regan, Group CEO of Modon Holding, said Modon's record 2024 results reflect the company's strong fundamentals, disciplined capital allocation and well-diversified portfolio.
Speaking of awards, Modon Properties has been honoured with an entry in the Guinness Book of World Records for demolishing the tallest building in Mina Plaza at Mina Zayed district with a controlled explosion. Four high-rises (144 storeys in total) were demolished in 10 seconds using explosives.
The company's portfolio covers a variety of projects, including residential and commercial properties, as well as leisure and entertainment facilities. Among Modon's best known developments is Nawayef West Heights on Hudayriyat Island. The developer presents a choice of 5, 6 or 7-bedroom villas, ranging in size from 8804 sqft (818 m²) to 17017 sqft (1581 m²) and plots from 10580 sqft (983 m²) to 19192 sqft (1783 m²). These villas by Modon are equipped with private pools, landscaped gardens and gyms. A number of villas have home cinemas and car garages.
The Thoraya project on Al Reem Island, developed by Modon, features 184 townhouses. This property in Abu Dhabi offers 3 and 4-bedroom layouts, and floor areas range from 2540 sqft (236 m²) to 3433 sqft (319 m²). Amenities at Modon Thoraya ont Al Reem Island include: communal gardens, BBQ areas, beach access and a children's pool. The developer has provided ample parking spaces for residents.
Modon Mayar, located on Al Reem Island, includes 3 and 4 bedroom homes ranging from 2615 sqft (243 m²) to 3336 sqft (310 m²). Fitness centres, private pools, manicured gardens and safe children's play areas are available to residents of these properties by Modon. Panoramic windows offer views of the island neighbourhood and the waterfront.
Modon Properties actively contributes to the development of Abu Dhabi by creating projects that combine modern technology, sustainability and respect for the region's cultural heritage. The company continues to expand its portfolio, offering quality properties and contributing to the growth and prosperity of the emirate.
Hudayriat Island
