Page 111 - ALEF EDUCATION PR REPORT - SEPTEMBER 2025

9/16/25, 10:18 AM Dubai construction firm Alec to offer 20% of shares in IPO | The National

The company said revenue rose 56 per cent annually in the first half of the year to Dh5.36 billion
($1.45 billion), with net income reaching Dh239 million.

It has a pipeline of large-scale projects with a Dh35.4 billion backlog as of end-June, with 79 per cent

of the current backlog secured in the past two years.

Alec intends to distribute a cash dividend of Dh200 million in April 2026, and a cash dividend of Dh500

million for the financial year ending December 31, 2026, payable in October 2026 and April 2027.

Following that, it expects to distribute cash dividends on a semi-annual basis (in April and October of
each year), with a minimum payout ratio of 50 per cent of the net profit generated for the relevant
financial period.

IPO demand and future growth
Alec expects strong investor demand for the IPO, chief executive Barry Lewis told media on Monday.

“We’ve had talks with numerous investors in the build-up to this, be it locally, in the UAE, in the region,
and internationally. There's been very good feedback to date from investors across all sectors, across
all geographies.”

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