Abu Dhabi-based International Holding Company (IHC) has acquired a 45 percent stake in UAE’s leading investment firm, Alpha Dhabi Holding.
Last year, IHC, which is listed on the Abu Dhabi stock exchange, bought a 94 percent stake in Falcon CI IV LP, a British fund that has invested in Mr. Elon Musk’s US-based aerospace firm, Space Exploration Technology Corp (SpaceX).
“The acquisition of a substantial stake in Alpha Dhabi Holding will add a significant scale to IHC, the move will increase and diversify our investment vertical, as we continually seek strategic partnerships with local and international players and further strengthen our leadership position in the marketplace.”
Real estate, healthcare, industrials, leisure, and retail are among IHC’s main investment sectors, which also include food and agriculture.
Mr. Hamad Al Ameri, Managing Director of Alpha Dhabi Holding remarked that “we are building a diversified portfolio in line with the UAE’s ambitions to promote private sector development. We look forward to working closely with IHC in the next phase of our journey.”
Alpha Dhabi Holding
Alpha Dhabi Holding, formerly Trojan Holding, made headlines recently when it agreed to pay $0.9 billion for a 12.21 percent stake in UAE’s master-developer Aldar Properties. Abu Dhabi’s Mubadala Investment Company had previously owned the stake.
Alpha Dhabi employs over 22,000 people and works on a variety of projects, including mixed-use and high-rise real estate, mass housing, and infrastructure. Aldar’s Waters Edge, the Palm Tower, Deira Waterfront, Jabal Hafeet mass housing project, and Etihad Railway are among some of the projects managed.