UAE’s leading investment firm and a subsidiary of IHC, Alpha Dhabi Holding has fully acquired Murban, a leading investment company based in Abu Dhabi.
Murban is mainly involved in the hospitality industry, with current assets including St Regis at Saadiyat, Al Wathba Luxury Collection Desert Resorts, and the Le Noir Café brand.
Alpha Dhabi has a strong hospitality development division, having previously built hotels in the UAE, Morocco, Russia, and the UK. Alpha Dhabi’s diversification strategy will be aided by this acquisition as it seeks to expand its portfolio.
Mr. Mohamed Thani Murshed Al Rumaithi, Chairman of Alpha Dhabi Holding said, “We are excited by the opportunity to accelerate our global exposure with our investment in Murban, which has a highly complementary business and asset portfolio. Murban is a dynamic platform on which to build our private and public equity exposure on the international markets. In addition, Murban has an excellent portfolio of hospitality developments and we are thrilled to be working together to gain access to new markets.”
Syed Basar Shueb CEO & MD IHC
“IHC is pleased to have helped identify the synergies that Murban share with Alpha Dhabi and to bring the two companies together. As a key shareholder in the business, we look forward to supporting the management team to continue their success and build long-term shareholder value for IHC. The move comes in line with our vision to develop our hospitality business and other sectors, deepening our ties locally and regionally. Furthermore, gaining a foothold in Canal Sugar, the world’s largest development of sustainable beet sugar, is a real plus point as we add to Abu Dhabi’s long-term food security program UAE National Food Security Strategy 2051. Through the growth of its subsidiaries like Alpha Dhabi, IHC is aiming to expand its portfolio and strengthen its market position as a major contributor to Abu Dhabi’s business landscape and UAE economy.”
“This transaction places us in a unique position to cease new opportunities across different markets through Murban’s rich asset portfolio, as we pursue further growth. We are working closely with IHC and are actively building a diversified portfolio in line with our strategic ambitions and future goals. We look forward to capitalizing on our shared aspirations and synergies with Murban,” Mr. Hamad Al Ameri, Managing Director of Alpha Dhabi Holding.
Earlier this year, Murban has reached an agreement with the Aceh Governor in March to create a luxury resort in Indonesia’s Aceh province.
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