Nawayef Park Views
From AED 2.0M
Developers / Modon Properties
Developer profile · Abu Dhabi
Modon Properties: the developer that builds the island before the houses
Abu Dhabi’s largest developer by sales value, 85% government-owned, and the force behind Hudayriyat Island — where the surf park and the velodrome opened before the first residents arrived. Fourteen projects here, from AED 1.5 million apartments to AED 41 million mansions.
ListedADX: MODON; c. 85% Abu Dhabi government
H1 2026Net profit AED 2.2bn; backlog AED 65.4bn
Abu Dhabi salesAED 23bn in H1 2026
MasterplanHudayriyat Island, 51 million sq m
Record launchAED 13bn at Hudayriyat Golf Estates
Here14 projects, AED 2m to AED 41m
About Modon Properties
Modon Properties is the real-estate arm of Modon Holding PSC, the Abu Dhabi developer listed on the Abu Dhabi Securities Exchange under the ticker MODON and roughly 85% owned by the Abu Dhabi government. Its franchise is one island and one district: Hudayriyat, the 51 million sq m masterplan off the capital’s south-west coast, and Al Reem Island, where it has built Reem Hills, Maysan and Muheira and sold out Tara Park.
The numbers are the largest of any developer on this site. In the first half of 2026 Modon reported revenue of AED 9.2 billion, up 40% year on year, net profit of AED 2.2 billion and adjusted EBITDA of AED 3.0 billion at a 32.6% margin. Property sales reached AED 26 billion — 2.6 times the prior year — of which AED 23 billion was in Abu Dhabi alone, making it the capital’s largest developer by sales value. The contracted revenue backlog stands at AED 65.4 billion, against total assets of AED 92 billion, equity of AED 57 billion, cash of AED 8.6 billion and net debt of AED 912 million, or 0.18 times EBITDA.
That balance sheet explains the launch record. On 7 July 2026 Modon launched Hudayriyat Golf Estates and generated more than AED 13 billion of sales within days — reported as the highest single-project launch value recorded in the UAE. Ten days later the final phase of Bashayer sold out in a single day, producing about AED 1.25 billion. Tara Park on Reem Island, 834 apartments, sold out across two launches for close to AED 2 billion.
For a buyer, those numbers cut both ways. On one side, this is a developer with the capital to finish what it starts, backed by the government that is building the island around it, with an audited balance sheet and a delivery record that includes an operating surf park, a velodrome and a sports village. On the other, the primary market closes fast: if you are interested in a popular launch, you may find the developer has nothing left to sell you and the only route in is resale or an assignment, on someone else’s contract and at someone else’s price.
Modon is also unusual among Gulf developers in what it publishes. Most of its project pages carry a factsheet with unit sizes and average prices by type — Muheira lists a one-bedroom at 74–86 sq m and an average of AED 1.6 million; Bashayer lists every type from a 81 sq m one-bedroom to a 489 sq m penthouse with an average price for each. Payment plans are published too: 40/60 at Nawayef East and Al Naseem, 50/50 at Bashayer, Muheira and Nawayef Village, 60/40 at Nawayef Park Views, 25/75 at Wadeem Gardens.
The gap in that transparency is time. The listing portal’s records for this developer lag the developer itself: it dates Nawayef East to Q4 2026 when Modon says December 2028, shows Al Naseem a year earlier than the developer, records Bashayer’s apartment handover as “Q1-3030”, and carries three Nawayef releases — Homes, Mansions and West Heights — that the developer no longer sells as active communities. Where the two disagree, these pages follow the developer and say so.
The portfolio splits cleanly in two. On Hudayriyat there are nine projects, from a AED 2 million one-bedroom at Nawayef Park Views to a AED 41 million mansion, all freehold to every nationality and all inside an island where the leisure was built first. On Al Reem there are five, from Reem Hills’ AED 1.5 million apartments to the maisonettes and townhouses of Maysan at around AED 3.3 million, in a city district that walks to ADGM. Beyond Abu Dhabi, Modon owns La Zagaleta in Spain, is developing Ras El Hekma in Egypt, and took over the events business Arena in May 2025.
Modon Properties projects
Fourteen projects, each with its own page: what the developer publishes, what the portal records, and where the two disagree.
Bashayer Residences
From AED 2.5M
Maysan
From AED 3.3M (portal-listed)
Mayar
From AED 3.3M (portal-listed)
Thoraya
From AED 3.7M (portal-listed)
Nawayef Village
From AED 4.1M
Bashayer Villas
From AED 6.0M (portal-listed)
Nawayef East
From AED 6.6M
Nawayef Homes
From AED 7.0M (portal-listed)
Al Naseem Villas
From AED 7.8M
Muheira
From c. AED 1.6M
Nawayef West Heights
From AED 19.0M (portal-listed)
Reem Hills
From AED 1.5M
Nawayef Mansions
From AED 41M (portal-listed)
For the island itself — what is open, what is coming, the bridge and the nine projects compared — see the Hudayriyat Island community guide; for the city district, the Al Reem Island guide. Prices marked portal-listed come from the listing portal and are older than the developer’s own figures; where the two disagree, the project page says which one is current. Modon also sells Hudayriyat Golf Estates, Wadeem Gardens and Tara Park (now sold out), which have no page here because the portal does not carry them.
What distinguishes Modon Properties
It publishes prices, which is rare
Sizes and average prices by unit type are on the factsheet for most projects, alongside the payment plan. That makes Modon one of the easiest developers in the Gulf to price from a document rather than a phone call, and it means you can argue from the developer’s own numbers.
Leisure first, homes second
On Hudayriyat the surf park, velodrome, sports village, promenade, park and 220 km of cycle tracks were built and opened before the residential neighbourhoods. Most masterplans do the opposite. It is the strongest part of the buying case and it is already delivered.
Launches sell out before you decide
Hudayriyat Golf Estates took about AED 13 billion in days; Bashayer’s final phase sold out in one; Tara Park’s 834 apartments went across two launches. If you want a popular release, expect the primary market to be closed and the secondary market to set the price.
Two markets, one balance sheet
A AED 2 million one-bedroom on an island and a AED 41 million mansion on a hill share a developer but not a buyer, a service charge or a resale curve. Decide which market you are in before comparing projects.
Freehold, and open to every nationality
Modon sells freehold to all buyers at Hudayriyat and on Reem Island, and most of its homes clear the AED 2 million Golden Visa threshold. That is unusually straightforward for Abu Dhabi, where much of the older stock was leasehold.
Buying a Modon Properties property: what to check
The company is easy to research. The unit, the phase and the contract are what need attention.
The unit schedule, not the brochure: size, floor, view, plot and price in writing.
The payment plan in the sale and purchase agreement, and whether instalments are milestone-linked.
The community service charge per square foot, itemised — on Hudayriyat it funds beaches, parks and sports.
The escrow account and project registration number for your building or neighbourhood.
Whether the unit is developer stock, resale or an assignment of contract, and what the assignment fee is.
If it is an assignment: the statement of account, the remaining schedule and the developer’s consent.
Beach and amenity access — deeded, shared or via a club or hotel.
What is being built around your plot in the next three years, and what it will overlook.
The bridge and traffic at peak times if you are buying on Hudayriyat.
Recent registered sales in the same cluster rather than the island or city average.
Modon Properties frequently asked questions
Who is Modon Properties?
The real-estate arm of Modon Holding PSC, an Abu Dhabi developer listed on the Abu Dhabi Securities Exchange as MODON and roughly 85% owned by the Abu Dhabi government. It is the master developer of Hudayriyat Island and the developer behind Reem Hills, Maysan and Muheira on Al Reem Island.
What has Modon built?
Hudayriyat Island’s sports and leisure infrastructure — Surf Abu Dhabi, Velodrome Abu Dhabi, Circuit X, 321 Sports, OCR Park, Trail X, the Marsana promenade, Bab Al Nojoum and the 2.25 million sq m urban park — plus the residential communities of Nawayef, Bashayer and Al Naseem on the island, and Reem Hills, Maysan, Mayar, Thoraya, Muheira and Tara Park on Al Reem Island.
How big is Modon?
In the first half of 2026 it reported revenue of AED 9.2 billion, net profit of AED 2.2 billion, property sales of AED 26 billion including AED 23 billion in Abu Dhabi, a revenue backlog of AED 65.4 billion, total assets of AED 92 billion and equity of AED 57 billion.
Is Modon a safe developer to buy from?
It is government-backed, exchange-listed and audited, with the largest sales book in Abu Dhabi and an operating leisure portfolio. The risk is not solvency but programme: a AED 65.4 billion backlog means a lot of construction at once, and individual phases can move. Ask for the status of your specific building, not the group’s delivery headline.
Where does Modon build?
Principally on Hudayriyat Island in Abu Dhabi, where it is master developer, and on Al Reem Island. It also owns La Zagaleta in Spain, is developing Ras El Hekma in Egypt and has an events and hospitality division that includes Arena.
How much do Modon homes cost?
In this portfolio, from about AED 1.5 million for a one-bedroom apartment at Reem Hills and AED 2 million at Nawayef Park Views, through townhouses at AED 4.1 million and villas from AED 6.6 million, to mansions at AED 19 million to AED 41 million. Prices are the developer’s published starting prices or, where marked, portal-listed.
Does Modon publish payment plans?
Usually. It publishes 50/50 at Muheira, Nawayef Village and Bashayer, 40/60 at Nawayef East and Al Naseem, 60/40 at Nawayef Park Views and 25/75 at Wadeem Gardens. Several older releases have no published plan, and the portal’s records differ; confirm the schedule in the SPA.
Is Modon freehold for foreign buyers?
Yes. Modon sells freehold to buyers of all nationalities at Hudayriyat Island and on Al Reem Island, and most of its homes exceed the AED 2 million threshold for the 10-year Golden Visa.
Why do so many Modon projects show old handover dates on the portal?
Because the portal’s records lag the developer’s releases. It dates Nawayef East to Q4 2026 against Modon’s December 2028, puts Al Naseem a year earlier than the developer, records Bashayer’s apartment handover as ‘Q1-3030’, and still carries Nawayef Homes, Mansions and West Heights, which Modon no longer sells as active communities. Each project page sets out the difference.
Considering a Modon Properties property?
Tell us which project and budget. We will send the current unit list, the payment schedule as written in the SPA, the estimated service charge, the construction update for that neighbourhood, and our honest read on the numbers.
Sources and verification. Unit types, sizes, average prices by type, payment plans, handover dates, amenity lists and the descriptions of Hudayriyat and Reem Island were taken from Modon’s own project and island pages and its real-estate blog; group financials, the government ownership figure, the launch records at Hudayriyat Golf Estates, Bashayer and Tara Park, and the backlog and balance-sheet figures from Modon Holding’s H1 2026 results announcement of 29 July 2026 and independent coverage of it; the 51 million sq m masterplan, the coastline, beach lengths, the 2.25 million sq m park, the 220 km cycling network, the attractions and the 1,700-plus Wadeem plots from the Abu Dhabi Media Office masterplan announcement and Modon’s own publications. Committed to publication: the listing portal’s records lag the developer — Nawayef East is dated Q4 2026 against Modon’s December 2028, Al Naseem Q4 2026 against Q4 2027, Bashayer Residences “Q1-3030” against Q2 2030 — and the portal still lists three Nawayef releases that Modon no longer sells as active communities; Bashayer’s final phase sold out in July 2026, so its primary market is closed; the portal’s entry prices for the older Nawayef releases are not comparable with Modon’s current factsheet averages; and Modon publishes no price at all for its mansions. Nothing here is a valuation or a promise of return.