One of the fastest-growing construction firms in the UAE, Trojan Holding has renamed itself to Alpha Dhabi Holding all while converting into an investment company.
International Holding Firm will buy a 45 percent stake in the company, which has been acquiring businesses in the hospitality and industrial sectors. The move is part of the company’s strategy to “strengthen the competitiveness of its business from a medium to long-term perspective”.
The announcement comes after Alpha Dhabi Holding’s subsidiary Sublime Commercial Investments’ deal to acquire a 12.21 percent stake in listed developer Aldar Properties from Mubadala Investment Company.
Mubadala said at the time that the deal, which included a block trade of 960 million shares, “is one of the largest private share purchases in a UAE-listed company and was carried out by International Securities and ADCB Securities.”
Alpha Dhabi Holding spokesman stated that “over the past decade, we have transformed our group, both operationally and financially. The deal to buy a stake in Aldar Properties falls in line with the future strategy of Alpha Dhabi Holding to increase its capital and diversify its investment portfolio, and also reaffirm its strong presence in the local real estate market”.
Trojan Holding included Trojan General Contracting and National Projects and Construction among its subsidiaries. In the UAE, its companies have completed over 100 contracts of various sizes. It also has subsidiaries that deal with mechanical, electrical, and plumbing contracting, as well as cladding, steel and aluminum fabrication, and precast and ready-mix concrete.
Trojan’s contracting arm has previously won contracts to work on projects for Aldar, Emaar Properties, and Nakheel. In 2019, the company proposed combining with Arabtec, a construction company.