Developer profile
Modon Holding
For Dubai-based buyers looking at Abu Dhabi: a state-owned developer with record sales and no handovers yet
Modon Holding is an Abu Dhabi group, listed on the Abu Dhabi Securities Exchange and about 84.75% owned by the Abu Dhabi Government through L'imad Holding (since 2025). It has no projects in Dubai: this page is for Dubai-based buyers considering Abu Dhabi, mainly Hudayriyat Island and Al Reem Island. Its launches have sold very quickly, with AED 36.3bn of property sales in 2025, but it has not yet handed over a home from its freehold programme. Weigh strong state backing against an untested delivery record and payment plans that leave 50-75% of the price due at or near handover.
What Modon does well
- State ownership and a strong balance sheet: AED 8.6bn of unrestricted cash and net debt of 0.18 times EBITDA (June 2026).
- Very strong launch demand: Hudayriyat Golf Estates sold over AED 13bn within days of its July 2026 launch, and Bashayer sold out in one day in December 2025.
- Controls all of Hudayriyat Island (over 51 million sq m), where leisure anchors such as Surf Abu Dhabi (2024) and the cycling track are already open.
- Building work is being contracted, not just sold: AED 32bn of construction and consulting contracts procured in 2025 and AED 14.1bn awarded in H1 2026.
- Off-plan finance is available: a July 2026 framework with Abu Dhabi Islamic Bank offers up to 75% financing during construction on eligible projects.
Check before you buy
- Modon has no Dubai projects. Buying Modon means buying in Abu Dhabi, mostly on Hudayriyat Island or Al Reem Island.
- No freehold home has been handed over yet, and portals disagree by a year: Al Naseem shows December 2026 on Property Finder and Q4 2027 on Bayut (October 2026). Rely on the SPA date.
- Reem Hills villas were scheduled for Q2 2026; no handover had been confirmed in press by October 2026.
- Plans are weighted to handover: 40/60 is common, and Wadeem Gardens is 25/75 with 75% due in April 2031. Make sure you can fund the final payment.
- Service charges are not published for any Hudayriyat or Reem project, Hudayriyat has one access bridge shared with leisure traffic, and no school or hospital operator had been named (2026). Ask for written answers.
History
The milestones that shaped Modon.
- 2005Q Holding (first called Al Qudra Holding) is set up in Abu Dhabi; it later becomes a listed subsidiary of IHC.
- 2018Modon Properties is set up around this year as a government developer, with work on Emirati housing in Riyadh City and leisure on Hudayriyat Island.
- 2019-2023Opens leisure and hospitality assets on Hudayriyat and the Al Dhafra coast, including the Hudayriyat cycling track, Circuit X and the Bab Al Nojoum resorts.
- 2021Q Properties, then part of Q Holding, launches Reem Hills on Al Reem Island, now sold under Modon.
- 202313 June: the Hudayriyat Island residential master plan is unveiled; Nawayef West villas are the first freehold release.
- 2024February-March: Q Holding takes in Modon Properties, ADNEC Group and other assets through AED 25.62bn of convertible bonds issued to ADQ and IHC, and is renamed Modon Holding. Surf Abu Dhabi opens. October: Maysan launches; Modon is named master developer for the first 50 million sq m of Ras El Hekma in Egypt. November: Nawayef East launches.
- 20256 May: Nawayef Village's 378 townhouses sell out on launch day (about AED 2bn). 4 July: Wadeem plots sell out in 72 hours for AED 5.5bn. October: IHC and Alpha Dhabi sell their stakes and L'imad Holding becomes majority owner. 10 December: Bashayer's 487 homes sell out in one day (about AED 3bn). December: AED 5bn contract awarded for 735 villas at Nawayef.
- 20267 July: Hudayriyat Golf Estates sells over AED 13bn of homes within days. July: off-plan finance framework with Abu Dhabi Islamic Bank; Bashayer's final phase sells out in one day (about AED 1.25bn). 30 September: Wadeem Gardens phase 1 launches.
Delivery track record
Modon has not yet handed over a home from its freehold programme, so there is no record of on-time or late delivery to judge. What it has completed are leisure, hospitality and Emirati housing infrastructure, such as Surf Abu Dhabi (2024), the Hudayriyat cycling track and the Bab Al Nojoum resorts. Modon does not publish a handover schedule, and portals disagree: Al Naseem and Nawayef West Heights show December 2026 on Property Finder and Q4 2027 on Bayut, and a broker area guide (August 2026) expects Al Naseem phase 1 to be the first handover, in Q4 2027. Reem Hills villas, a 2021 project inherited from Q Properties, were scheduled for Q2 2026; Property Finder marks them ready, but no handover had been confirmed in press by October 2026. Main construction contracts are in place, including AED 5bn for 735 Nawayef villas (December 2025) and AED 1bn for Maysan.
| Project | Promised handover | What happened | Source |
|---|---|---|---|
| Reem Hills villas, Al Reem Island | Q2 2026 (Modon) | Property Finder shows ready (June 2026 completion); handover not confirmed in press (October 2026) | Modon; Property Finder |
| Reem Hills apartments, Al Reem Island | Q2 2027 (Modon) | Not yet due | Modon |
| Al Naseem villas, Hudayriyat Island | December 2026 (Property Finder) / Q4 2027 (Bayut) | Construction started March 2024; not yet due (October 2026) | Property Finder; Bayut; broker area guide, August 2026 |
| Nawayef West Heights, Hudayriyat Island | December 2026 (Property Finder) / Q4 2027 (Bayut) | Construction started May 2024; not yet due (October 2026) | Property Finder; Bayut |
| Nawayef Park Views, Hudayriyat Island | Q1 2028 (Bayut) / Q4 2026 (one broker article) | Not yet due (October 2026) | Bayut; broker article |
| Surf Abu Dhabi, Hudayriyat Island | Not applicable (leisure) | Opened 2024 | Broker project guide |
Modon projects selling or being built now
Starting prices are launch or asking prices at the date shown. Prices move, payment plans change and some projects sell out quickly, so ask us for today’s availability.
| Project | Area | Type | Bedrooms | Sizes | Starting price | Price per sq ft | Payment plan | Handover | Status |
|---|---|---|---|---|---|---|---|---|---|
| Hudayriyat Golf Estates | Hudayriyat Island, Abu Dhabi | Townhouses, villas and golf mansions | 3-6 | Townhouses about 2,200-2,550; villas about 2,530-9,800; mansions about 12,380 sq ft | AED 4.2m 3-bed townhouse; AED 4.9m Par 3 villa; AED 6.6m Par 4; AED 10.3m Range villa; AED 26.8m Fairway; AED 35.8m mansion (launch, July 2026) | About AED 1,900-2,900 (launch, July 2026, derived) | 40/60 | Q3 2030 | Over AED 13bn sold within days (July 2026); limited availability |
| Wadeem Gardens | Hudayriyat Island, Abu Dhabi | Villas | 4-6 | AED 8.7m 4-bed; AED 10.2m 5-bed; AED 11.6m 6-bed (launch, September 2026) | 25/75 (5% reservation; 75% due April 2031) | Q2 2031 | Selling (phase 1 launched 30 September 2026) | ||
| Bashayer | Hudayriyat Island, Abu Dhabi | Apartments, townhomes and penthouses (330); villas (157) | Apartments 1-4; villas 4-5 | 1-bed about 870-1,410; 2-bed about 1,390-2,430; 3-bed about 1,920-3,220 sq ft | Averages: 1-bed AED 2.35-2.5m; 2-bed AED 3.15-3.6m; 3-bed AED 4.6-4.8m (launch, December 2025-July 2026) | About AED 2,100-2,800 (launch, derived) | 5/45/50 (first release); 10/40/50 (final phase) | Apartments Q4 2029-Q2 2030; villas Q1 2030 | Both releases sold out in one day (about AED 3bn, December 2025; about AED 1.25bn, July 2026) |
| Wadeem (residential plots) | Hudayriyat Island, Abu Dhabi | Freehold plots for self-built villas (1,700+ plots) | 4-6 (villas to be built) | Plots about 6,540-9,960 sq ft | AED 3.7m (portal, 2026) | 10/40/50 | Plots and infrastructure Q4 2028 | Sold out in 72 hours for AED 5.5bn (July 2025); resale only | |
| Nawayef Village | Hudayriyat Island, Abu Dhabi | Townhouses and twin villas (378 units) | 3-5 | 3-bed townhouse about 2,670; 4-bed about 2,745; 5-bed twin villa about 3,670 sq ft | AED 4.1m (launch, May 2025) | About AED 1,100-1,540 (launch, derived) | 10/40/50 | Q1 2029 (February 2029) | Sold out on launch day (about AED 2bn, May 2025) |
| Nawayef East (Homes, Heights, Mansions) | Hudayriyat Island, Abu Dhabi | Villas and mansions | Homes 4-5; Heights 5-7; Mansions 6-8 | Homes about 3,980-5,040; Heights about 12,880-21,010 sq ft | AED 18.4-19.3m (Heights, portal, 2026) | 10/30/60 | December 2028 (November 2028-February 2029 by type) | Released in stages; limited availability | |
| Nawayef West (Heights, Mansions, Homes) | Hudayriyat Island, Abu Dhabi | Villas and mansions | 5-8 | AED 19-20m (Heights, portal, 2026) | 10/30/60 | December 2026 (Property Finder) / Q4 2027 (Bayut) | Under construction since May 2024; 95 resale listings (October 2026) | ||
| Nawayef Park Views | Hudayriyat Island, Abu Dhabi | Apartments | 1-4 | 1-bed from 1,041; 2-bed 1,752-2,740; 4-bed 5,330 sq ft | AED 2.0m (portal, 2026) | About AED 1,900 (derived, 2026) | 60/40 (10/50/40) | Q1 2028 (Bayut); one broker article says Q4 2026 | Selling |
| Al Naseem | Hudayriyat Island, Abu Dhabi | Villas | 4-6 | 4-bed 5,274-6,673; 5-bed 6,135; 6-bed 6,673 sq ft built-up | AED 7.8m 4-bed; AED 8.9m 5-bed; AED 9.9m 6-bed (launch, 2023-24) | About AED 1,450-1,500 on built-up area (launch, derived) | 10/30/60 | December 2026 (Property Finder) / Q4 2027 (Bayut) | Sold out; 116 resale listings (October 2026) |
| Tara Park | Al Reem Island (Tamouh), Abu Dhabi | Apartments (834 units in six towers) | 1-3 | AED 1.64m (portal, 2026) | 50/50 or 40/60 (sources differ) | Q3 2029-Q1 2030 | Sold out | ||
| Muheira | Al Reem Island (Tamouh), Abu Dhabi | Apartments (two towers) | 1-3 | 1-bed from 785; 3-bed up to 2,513 sq ft | AED 1.6m (Bayut, October 2026) | 5/45/50 | Q2 2029 | Selling | |
| Maysan (Mayar and Thoraya) | Al Reem Island (Najmat), Abu Dhabi | Townhouses and stacked maisonettes | 3-4 | AED 3.3m Mayar; AED 3.7m Thoraya (portal, 2026) | 10/30/60 | Q4 2027 (November 2027) | Selling; AED 1bn main contract awarded December 2025 | ||
| Reem Hills | Al Reem Island (Najmat), Abu Dhabi | Villas, townhouses and apartments | Villas 5-8; apartments 1 and up | Villas: 5-bed 10,487-11,119; 6-bed 13,108-15,232; 7-8 bed 17,435-19,153 sq ft | Apartments AED 1.5m; villas AED 10.3m (2026) | 10/40/50 (villas); 50/50 (apartments) | Villas Q2 2026 (handover not confirmed); apartments Q2 2027 | Villas sold out; 280 resale listings (October 2026) | |
| Ras El Hekma (Montage Residences, Nammos Ras El Hekma) | North Coast, Egypt | Apartments, townhouses, villas and branded homes | 1-5 | AED 1m (portal, 2026) | 2,109 units sold for AED 5.8bn at the first launch; Nammos announced 16 July 2026 | ||||
| Wadi Yemm | Egypt | New phase | Selling (launched April 2026) |
Completed projects
| Project | Area | Completed | Type | Notes |
|---|---|---|---|---|
| Hudayriyat leisure (cycling track, Trail X, Circuit X, 321 Sports, Marsana, Hudayriyat Mar Vista, Heritage Trail) | Hudayriyat Island, Abu Dhabi | 2019-2023 | Sport, leisure and dining | Made the island a leisure destination before homes went on sale. |
| Surf Abu Dhabi | Hudayriyat Island, Abu Dhabi | 2024 | Surf park (Kelly Slater Wave Co.) | The main leisure anchor for Golf Estates and Bashayer. |
| Bab Al Nojoum resorts (Hudayriyat, Bateen Liwa, Al Mugheirah) | Hudayriyat Island and Al Dhafra coast | Not published | Hospitality | Part of Modon's hotel business (16 hotels, June 2026). |
| Al Mugheirah Bay and Mamsha Al Mugheirah | Al Dhafra coast, Abu Dhabi | Not published | Waterfront leisure | Coastal leisure destination. |
| The Courtyard Mall | Riyadh City, Abu Dhabi | Not published | Shopping centre | Serves the Emirati housing district. |
| Abu Dhabi Fish Market | Mina Zayed, Abu Dhabi | Not published | Market | Retail and food market. |
| South of Riyadh City (phase 1 infrastructure) | Riyadh City, Abu Dhabi | Not published | Infrastructure for Emirati national housing | AED 1.53bn of phase 1 contracts (award date not published); government housing, not homes for sale. |
How owners have done
Nothing in Modon's freehold programme has been completed, so there are no rents and no completed-home resales to measure. Abu Dhabi has no public transaction feed like Dubai's DLD data, so resale prices are harder to check. Advertised resale listings on Hudayriyat on 8 October 2026 (663 listings) averaged about AED 3.46m for apartments, AED 5.19m for townhouses and AED 10.39m for villas, and villas were advertised at about AED 1,500 per sq ft (August-October 2026). For comparison, Nawayef Village townhouses launched at AED 4.1m in May 2025 and Al Naseem 4-bed villas at AED 7.8m in 2023-24, but these are not like-for-like pairs. Launch pricing works out at about AED 1,900-2,900 per sq ft at Golf Estates (July 2026) and AED 2,100-2,800 at Bashayer (December 2025). Hudayriyat recorded about AED 11.97bn of transactions in Q1 2026, the highest of any Abu Dhabi area by value that quarter. On Al Reem Island, where Modon also builds, gross yields were 8.1-9.3% in May 2026 and the median price was AED 1,826 per sq ft in October 2026. Dubai-based buyers should note that Dubai's market cooled in 2026 (Q3 sales values down 47% on a year earlier, Cavendish Maxwell), and that broker forecasts of 42-56% growth at Golf Estates are marketing, not evidence.
| Community | Price per sq ft | Change | Gross yield | Source |
|---|---|---|---|---|
| Hudayriyat Island villas (resale listings) | About AED 1,500 asking (August-October 2026) | Not published | No rental market yet (October 2026) | Property Finder listings data |
| Hudayriyat Golf Estates (launch) | About AED 1,900-2,900 (July 2026, derived) | Not applicable | Not let yet | Broker price lists (derived) |
| Bashayer, Hudayriyat (launch) | About AED 2,100-2,800 (December 2025, derived) | Not applicable | Not let yet | Broker price lists (derived) |
| Al Reem Island (all developers) | AED 1,826 median (October 2026) | Not published | 8.1-9.3% (May 2026) | Broker data |
| Yas Island, Abu Dhabi (comparison) | Not published | Not published | 8.6-9.1% (May 2026) | Broker rental data |
| Saadiyat Island, Abu Dhabi (comparison) | Not published | Not published | 4.8-6.7% (May 2026) | Broker rental data |
Bayut and Property Finder figures are mostly asking prices and rents, not completed sales. Yields are gross, before service charges, maintenance and empty periods.
Payment plans and what’s on offer
- Payment plans
- Mostly weighted to handover, with a 5-10% booking deposit (2024-26 launches): 40/60 at Golf Estates, Al Naseem, Nawayef East and West and Maysan; 50/50 at Bashayer, Wadeem, Nawayef Village and Reem Hills apartments; 60/40 at Nawayef Park Views; and 25/75 at Wadeem Gardens, with 75% due in April 2031.
- Post-handover plans
- None found (October 2026).
- Mortgages on off-plan
- A July 2026 framework with Abu Dhabi Islamic Bank offers up to 75% financing during construction for eligible buyers on qualifying projects. Terms and the project list have not been published.
- Golden Visa
- Hudayriyat and Reem Island projects are freehold and open to all nationalities. A purchase of AED 2m or more can qualify; one guide notes conflicting references to 5- and 10-year visas, so confirm with the ICP (2026).
- Resale before handover
- By assignment with Modon's approval and fees. Golf Estates reportedly allows resale once 20% of the price is paid (2026); confirm the threshold in your SPA.
- Plots
- Wadeem sold freehold plots for self-built villas (July 2025). Plots come with build deadlines; get the consequences of missing them in writing.
- Service charges
- Not published for any Hudayriyat or Reem project (October 2026). Comparable Abu Dhabi villa communities charge about AED 5 per sq ft a year and apartment towers about AED 10.85-15 (broker service-charge index, October 2025).
- Branded residences
- None in the UAE. Nammos Ras El Hekma in Egypt was announced on 16 July 2026.
Who Modon suits
Modon suits Dubai-based buyers who are happy to own in Abu Dhabi and want a villa or townhouse on a new coastal island from a state-owned, cash-rich developer. They need to be able to wait until 2027-31 for keys and to fund 50-75% of the price at or near handover. Most buyers so far live in the UAE: only 15% of Golf Estates buyers were non-residents (July 2026). It does not suit anyone who wants a home in Dubai, needs rental income soon, or wants to see finished homes and published service charges before buying.
Thinking of buying? We have sold off-plan for the major developers and can compare Modon projects with similar homes from others, including resales that may cost less than a new launch.
Modon FAQs
Does Modon have projects in Dubai?
No. As of October 2026 every Modon home for sale in the UAE is in Abu Dhabi, mainly on Hudayriyat Island and Al Reem Island. Its other projects are in Egypt, Spain, the US and the UK.
Is Modon a good developer?
Modon Holding is listed in Abu Dhabi and about 84.75% owned by the Abu Dhabi Government. It made AED 3.9bn of net profit in 2025 and held AED 8.6bn of unrestricted cash in June 2026. Its launches have sold very fast, but it has not yet handed over a freehold home, so its delivery record is untested.
Who owns Modon?
L'imad Holding Company, which is wholly owned by the Abu Dhabi Government, holds about 84.75% after buying out IHC (42.54%) and Alpha Dhabi (8.50%) in 2025. The rest trades on the Abu Dhabi Securities Exchange.
When will Modon hand over its first homes?
The first villa handovers are expected at Al Naseem and Nawayef West on Hudayriyat Island, but dates differ: Property Finder shows December 2026 and Bayut Q4 2027 (October 2026). Reem Hills villas were scheduled for Q2 2026; no handover had been confirmed by October 2026.
What is Modon's payment plan?
Usually 40/60 or 50/50 with a 5-10% booking deposit. Nawayef Park Views is 60/40 and Wadeem Gardens is 25/75, with 75% due in April 2031. No post-handover plans were found (October 2026).
How much does Hudayriyat Golf Estates cost?
At launch in July 2026: 3-bed townhouses from AED 4.2m, Par 3 villas AED 4.9m, Par 4 villas AED 6.6m, Range villas AED 10.3m, Fairway villas AED 26.8m and golf mansions AED 35.8m. The plan is 40/60 and handover is due in Q3 2030.
Can foreigners buy Modon property in Abu Dhabi?
Yes. Hudayriyat Island and Al Reem Island projects are freehold and open to all nationalities (2026). A purchase of AED 2m or more can qualify for a Golden Visa.
What are Modon's service charges?
Modon has not published them for any Hudayriyat or Reem project (October 2026). Ask for a written estimate. Comparable Abu Dhabi villa communities charge about AED 5 per sq ft a year and apartment towers AED 10.85-15 (October 2025).
Can I get a mortgage on a Modon off-plan property?
Abu Dhabi Islamic Bank agreed a framework in July 2026 to finance up to 75% during construction for eligible buyers on qualifying projects. The terms and project list have not been published, so check with the bank.
What rental yield can I expect on Hudayriyat Island?
None is proven, because nothing has been handed over. On nearby Al Reem Island, apartments yielded 8.1-9.3% gross in May 2026. Modon's own 6-8% projection for Hudayriyat is a forecast, not evidence.
Sources and how we checked (27)
Facts checked October 2026 from the developer’s own announcements and results, Dubai Land Department records (via Property Finder, DXBinteract and Propsearch), Bayut market reports and the press. Figures given by the developer are labelled as theirs. This page is information, not financial advice.
- Modon, About Modon
- Modon, Hudayriyat Golf Estates sales release, 7 Jul 2026
- Modon, H1 2026 results release, 29 Jul 2026
- Gulf Business, Modon 2025 results, 18 Feb 2026
- Gulf News, Q Holding completes consolidation, 28 Feb 2024
- Gulf News, Modon H1 2024 results, 31 Jul 2024
- Gulf Business, IHC sells 42.54% Modon stake to L'imad, 30 Oct 2025
- Zawya, IHC and Alpha Dhabi sell Modon stakes, 2025
- Modon, Reem Hills
- Property Finder, Al Naseem Villas
- Property Finder, Nawayef West Heights
- Property Finder, Reem Hills Villas
- Bayut, Modon new projects
- Cresco, Hudayriyat Island area guide 2026
- Projectory, Modon Holding off-plan projects, prices and plans, July 2026
- Dubaihaus, Hudayriyat Island villas: prices and handover dates 2026
- Metropolitan, Modon Properties developer page
- Masterpiece Property, Modon Properties Abu Dhabi guide, October 2026
- Al Bawaba (Modon release), Wadeem sells out in 72 hours, 4 Jul 2025
- Al Zaeem Real Estate, Modon developer guide 2026, 3 Sep 2026
- The Upsides, Wadeem Gardens price list
- Enterprise, Modon appointed master developer for Ras El Hekma, 7 Oct 2024
- Zawya, South of Riyadh City infrastructure contracts
- Business Wire, Modon Harborside 4 joint venture, 22 Dec 2025
- Rose Island Real Estate, Abu Dhabi service charges index, October 2025
- Sands of Wealth, Abu Dhabi rental yields, May 2026
- Gulf Business (Cavendish Maxwell), Dubai Q3 2026 residential sales, 6 Oct 2026