Q Holding PSC

Modon Holding P.S.C has been appointed by ADQ, an Abu Dhabi-based investment company, as the master developer for the Ras El Hekma megaproject in Egypt. This project, located 350 kilometers northwest of Cairo, is set to cover 170 million square meters, with Modon initially developing 50 million square meters. The project aims to create a smart, sustainable urban community and is expected to generate significant economic impact, including USD 110 billion in cumulative investment by 2045, an annual GDP contribution of USD 25 billion, and approximately 750,000 jobs. Ras El Hekma will feature residential, commercial, and recreational facilities, including an international marina and a special free zone. Modon Holding has partnered with major developers, including Orascom Construction, to execute the project.

Modon Holding PSC, formerly known as Q Holding, reported significant financial growth for the first half of 2024 following its acquisition of Modon Properties and ADNEC. The company achieved a revenue of AED 2.2 billion, marking a 333% year-on-year increase, and a gross profit of AED 833.2 million, a 277% increase. Net profit stood at AED 8.74 billion, including gains from the acquisition. The acquisition is one of the largest in the UAE's history and positions Modon Holding as a major player in real estate. The company's liquidity surged by 119%, and market capitalization reached AED 45.94 billion, growing by 114%. Key business highlights include strong real estate sales of AED 7.6 billion and a 153% year-on-year increase in sales. ADNEC also saw a 21% increase in visitor numbers. Modon Holding aims to advance Abu Dhabi’s local and international ambitions in line with the UAE’s vision for sustainable development.

Modon Holding PSC, formerly known as Q Holding, reported significant financial growth for the first half of 2024 following its acquisition of Modon Properties and ADNEC. The company achieved a revenue of AED 2.2 billion, a 333% increase year-on-year, and a gross profit of AED 833.2 million, a 277% increase year-on-year. Net profit reached AED 8.74 billion, including gains from the acquisitions. The acquisition is one of the largest in the country's history and positions Modon Holding as a major player in real estate. The company also saw a 119% increase in liquidity and a market capitalization of AED 45.94 billion as of June 30, 2024. Key business highlights include strong real estate sales momentum and a 21% increase in visitors to ADNEC.

Modon Properties, a subsidiary of Q Holdings, has announced the first phases of freehold residences on Hudayriyat Island, comprising of two communities, Nawayef and Al Naseem. The high-end residential villas will offer panoramic views of the Abu Dhabi skyline and waterfront. The development aligns with Abu Dhabi's strategic vision for urban expansion and enhancing its global appeal. The properties are available to buyers of all nationalities. Nawayef villas are inspired by Newport Hills, California, and offer expansive views of the Abu Dhabi skyline and the Arabian Gulf. Al Naseem is a family-oriented community with amenities including a country club with a gym, spa, and pool, and a mosque.