06:09 AM EDT, 10/29/2026 (MT Newswires) -- FAB Securities maintained its buy rating on Aldar Properties (ADX:ALDAR), with a price target of 11 Emirati dirhams, following its third-quarter results. "Aldar Properties delivered a resilient financial and operating performance in 3Q26, supported by backlog conversion and resilient earnings from a diversified investment properties portfolio. However, the Company's Development sales declined 33.3% YOY to AED 6.8 Bn in 3Q26. UAE sales stood at AED 5.0 Bn in 3Q26 compared to AED 9.1 Bn in 3Q25. Despite the slowness in UAE sales, ALDAR continued to strengthen its development pipeline through seven launches in 3Q26- Al Ghadeer Gardens II, The Canopies, Sei Saadiyat, Al Ghadeer Parks I & II, Talay, Talay Beach, and Yas Riva," analysts wrote in a first-look note published Wednesday. The property developer logged a 25.1% annual increase in attributable net profit to 1.91 billion dirhams, missing FAB's estimate of 2.20 billion dirhams. Revenue increased 16.4% year over year to 9.35 billion dirhams, against the 9.39 billion-dirham forecast of the research firm. "Management lowered its FY26 handover target to 2,600 units from 3,700 units due to construction delays, with some units now expected to be delivered in 2027," the note said. "Group Adjusted EBITDA guidance stood at AED 12.3-12.7 Bn, while Investment Adjusted EBITDA guidance remained at AED 3.7-3.9 Bn."

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