Waha Capital Climbs Past $272 Million in Net Profit in Breakout Year

The company’s strong bottom-line performance was matched by growth in overall revenue. The total income for the year reached approximately $516 million (AED 1.897 billion), highlighting diversified revenue streams across its investment platform.

The results mark a notable milestone for the group, which is listed on the Abu Dhabi Securities Exchange under the ticker “WAHA.” Company leadership attributed the performance to a combination of strong fund returns, successful asset monetizations and a deliberate reduction in finance costs as part of a broader balance sheet optimization strategy. The improved earnings position underscores a year in which execution and timing aligned with favorable market conditions.

At the center of Waha Capital’s performance was its asset management division, which delivered robust returns across flagship funds while increasing third-party mandates. Fee income from these mandates played a key role in stabilizing revenue, reinforcing the firm’s shift toward recurring income streams rather than reliance solely on principal investments. The company indicated that several of its funds outperformed benchmarks during the year, supporting both investor confidence and capital inflows.

The Private Investments arm also contributed significantly to profitability. During 2025, the division completed what executives described as one of its most profitable divestments to date, unlocking capital that had matured within the portfolio. This disciplined approach to exits, selling assets at opportune moments, appears to have meaningfully strengthened overall returns for shareholders. Meanwhile, Waha Land, the group’s industrial real estate platform, monetized completed developments and advanced new projects aimed at generating future recurring income.

Waleed Al Mokarrab Al Muhairi, Chairman, Waha Capital, noted, "In 2025, Waha Capital delivered one of its strongest financial performances in recent years, with net profit attributable to shareholders exceeding AED1 billion. This result reflected the consistent implementation of the group’s long-term investment strategy and its disciplined approach to capital allocation." He added: "During the year, Waha Investments’ funds continued their track record of outperformance while attracting additional third-party mandates. Private Investments completed one of its most profitable divestments to date, while Waha Land monetised its completed assets and unlocked new development opportunities."

Mohamed Hussain Al Nowais, Managing Director, Waha Capital, said, "Each of our three business pillars contributed to the progress made during the year. Waha Investments’ funds continued their track record of outperformance while scaling third-party mandates and fee income." He added: "Looking ahead, our priorities are clear: maintaining the performance of our award-winning funds while scaling third-party mandates; redeploying capital into priority sectors, including healthcare and real estate; and continuing to build scalable platforms that support growth.”

Beyond the headline numbers, structural developments during the year may prove equally consequential. As of year-end 2025, Waha Capital’s financial reporting reflects Investment Entity accounting, meaning investments are measured at fair value rather than consolidated line by line. This shift provides clearer visibility into underlying asset valuations and aligns the company with international reporting practices common among global investment managers.

In 2025, Waha Capital also expanded its institutional footprint by establishing a presence within the Abu Dhabi Global Market (ADGM), a move executives described as strategically important. The ADGM office enhances regulatory alignment, strengthens access to global capital pools, and reinforces the firm’s ambition to grow third-party assets under management.

The company’s performance comes at a time when the UAE’s broader financial sector has demonstrated resilience. Regional asset managers have benefited from improving market liquidity, diversified capital flows, and renewed appetite for alternative investments.

As the firm enters 2026, its strategic priorities remain centered on scaling third-party mandates, maintaining disciplined capital deployment, and identifying sectors with sustainable growth trajectories. Healthcare, infrastructure-linked real estate, and selective private equity opportunities remain areas of focus. The emphasis on fee-generating assets and institutional credibility signals a measured evolution from a predominantly balance-sheet investor toward a broader asset management platform.

Investors and market observers see Waha Capital’s 2025 results as more than just a strong earnings year. They signal a strategic recalibration toward diversification, disciplined exits, and institutional expansion. With over approximately $272 Million (AED 1 billion) in net profit and a reinforced capital base, the company enters the new financial year with momentum and heightened expectations from shareholders watching closely to see whether the trajectory can be sustained.