Abu Dhabi-based investment firm International Holding Company (IHC) has acquired a majority and controlling stake in the region’s leading real estate, services, hospitality, and investments company, Al Qudra Holding (AQH).
According to the statement, the acquisition will enable IHC to expand its portfolio in the real estate, services, and hospitality sectors.
Al Qudra Holding has built out a large portfolio of customers since its founding in 2005, including Manarah Bay, a multi-usage project covering about 52,000 square meters, in Abu Dhabi and Barary Ain Al Fayda Development in Al Ain, a project comprises 2,500 residential units.
The company currently has more than 12 subsidiaries spread across real estate, services, hospitality, investments, and oil and gas sectors.
“IHC has been further strengthening its successful investment approach, with some of the best-in-market companies. The acquisition comes in line with this year’s disclosed IHC investment plan across several sectors, including the real estate area, which will create immediate growth and value for our shareholders. We are thrilled by the potential for being a majority shareholder of Al Qudra Holding and the team and the scale they bring to the table.”
HE Sheikh Abdulla bin Mohamed bin Butti Al Hamed, Chairman of Al Qudra Holding said, “Al Qudra Holding is at a very exciting juncture in its history, with IHC being a majority shareholder, we are well-positioned to accelerate and further strengthen all Al Qudra ongoing projects in all areas.”
Through its subsidiaries, Al Qudra focuses its investments and strategic partnerships in nationally essential sectors, such as oil and gas, banking, and finance. The company has investments in certain industries, including real estate, services, and hospitality, as part of its diversification strategy.