All vikisModon
Modon Holding PSC, the developer of Wadeem Gardens, is 84.76% owned by the Abu Dhabi government's L'imad Holding and is master developer of Hudayriyat Island. It reported AED 26 billion of property sales in the first half of 2026, but no community on its island page has yet reached its handover date.
The company selling Wadeem Gardens reported the largest property sales of any developer in Abu Dhabi for the first half of 2026: AED 23 billion in the emirate and AED 26 billion in all, by its half-year results of Jul 29, 2026. The same release puts its revenue backlog, meaning homes sold and not yet recognized as revenue, at AED 65.4 billion.
The company in figures
| Legal name | Modon Holding PSC, based in Abu Dhabi |
| Formed | February 2024, by its 2025 results |
| Main owner | L'imad Holding, wholly owned by the Abu Dhabi government, with 84.76% since Oct 30, 2025 |
| Chairman | H.E. Jassem Mohamed Bu Ataba Al Zaabi |
| Group CEO | Bill O'Regan |
| CEO, Modon Real Estate | Ibrahim Al Maghribi |
| 2025 revenue and net profit | AED 13.8 billion and AED 3.9 billion |
| 2025 property sales | AED 36.3 billion, AED 29.8 billion of it in Abu Dhabi |
| First half of 2026 | Net profit AED 2.2 billion; property sales AED 26 billion |
| Businesses | Real estate, hospitality, asset and investment management, and events, catering and tourism |
L'imad bought the shares previously held by International Holding Company and ADQ. For a buyer the plain meaning is that the developer of Wadeem Gardens is, at one remove, the government of the emirate it builds in.
What it has built and what it has sold
Modon is the master developer of Hudayriyat Island. It revealed the masterplan in June 2023, when it was still Modon Properties: more than 51 million sq m, which it described as 53.8% of the size of Abu Dhabi Island. The leisure side came first. Surf Abu Dhabi, the velodrome, 321 Sports, Marsana Beach and Bab Al Nojoum are open, and Modon's own releases list them as existing places.
The homes are a different matter. The earliest handover on Modon's island page, read on Nov 12, 2026, is Q4 2027, for Al Naseem Community. So Modon has sold tens of billions of dirhams of homes on Hudayriyat Island, and by the dates on that page none of the communities listed there has reached handover. Outside the island it also sells on Reem Island (Maysan, Muheira, Tara Park) and is master developer of Ras El Hekma in Egypt.
That is the central fact for judging Wadeem Gardens' Q2 2031 date. Modon's sales record is exceptional and documented; its record of delivering houses on time on this island cannot be read yet, because none of those dates has come due. The first test is Al Naseem in late 2027, more than three years before Wadeem Gardens.
Why its balance sheet matters to a villa buyer
Wadeem Gardens takes until 2031 to arrive, so a buyer on its Payment Plan relies on the developer for almost five years. Modon ended 2025 with net cash of AED 1.8 billion, by its 2025 results, and its majority owner is the state. We think that makes the risk at Wadeem Gardens one of timing, not of the developer failing to finish, which is a better risk to hold than the usual off-plan one.
The people quoted on Wadeem Gardens
In the launch release, Bill O'Regan called the community "another step in our wider vision for Hudayriyat Island", and Ibrahim Al Maghribi described the aim as "creating ownership opportunities for a broader segment of residents and investors in the UAE". Both statements are the seller's.
Sources
- Modon delivers record first half results, Modon, Jul 29, 2026
- Modon delivers outstanding growth in 2025, Modon, Feb 18, 2026
- L'imad Holding Company acquires shares of majority stakeholders in Modon Holding, Modon, Oct 30, 2025
- Modon Properties reveals Hudayriyat Island masterplan, Modon, Jun 13, 2023
- Hudayriyat Island, Modon, read Nov 12, 2026
- About Modon, Modon
- Modon launches phase one of Wadeem Gardens, Modon, Sep 30, 2026
Related
- ADIB Off-Plan FinanceAbu Dhabi Islamic Bank finances up to 75% of a Wadeem Gardens villa during construction, with pre-approval in two hours and no processing or valuation fee for eligible buyers. On a 4-bedroom villa that is up to AED 6,525,000, and UAE nationals get AED 435,000 back.
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Handover, Ownership and ResaleWadeem Gardens villas are due for handover in Q2 2031, are freehold for buyers of every nationality, and may be resold before handover once 20% of the price is paid, which is AED 1,740,000 on the 4-bedroom villa. Each villa has provision for a pool, not a pool.
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Launch and How to RegisterModon launched phase one of Wadeem Gardens on Sep 30, 2026 and was still taking registrations on Nov 12, 2026, through its website, 800 MODON and its sales center on Hudayriyat Island. No sell-out, villa count, brochure or floor plan has been published.
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Hudayriyat Island CommunitiesModon lists seven communities on Hudayriyat Island, from AED 2M apartments at Nawayef Park Views to AED 35.8M golf mansions. Wadeem Gardens has the lowest share due before handover and the latest handover, and is the only recent launch with no sell-out announced.
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- Wadeem PlotsBefore Wadeem Gardens there was Wadeem, more than 1,700 villa plots that Modon launched on Jul 1, 2025 and sold out in 72 hours for AED 5.5 billion, an average of about AED 3.2M a plot by Vi.ki's working. Wadeem Gardens is the built-villa release in the same district.
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