UAE’s leading investment firm and a subsidiary of International Holding Company (IHC), Alpha Dhabi Holding (ADH) has acquired an additional 17 percent stake in Aldar Properties, one of the leading real estate development, management, and investment groups in the region.
According to the statement, Alpha Dhabi Holding’s stake in Aldar Properties will rise to 29.8 percent, making it one of the company’s largest shareholders.
The acquisition is in line with Alpha Dhabi Holding’s recently announced expansion plans and future strategies, targeting $2 billion (AED 8 billion) for investments in real estate, hospitality, healthcare, petrochemicals, and other promising sectors inside and outside the UAE.
Hamad Al Ameri MD – Alpha Dhabi Holding
“The real estate sector has been witnessing an outstanding recovery during 2021, demand for residential, commercial, hospitality and logistics units continue to grow as a result of the resilience and agility of the country’s post-pandemic strategy. Aldar’s rapid growth, strategic expansion plan and projects pipeline represent the right investment for ADH and our shareholders. Aldar’s many projects vary between local, regional and international markets and align with our vision for ADH to explore new markets.”
Early this year, Alpha Dhabi Holding acquired a 12.8 percent strategic stake in Aldar Properties. The transaction, which involved the transfer of around 1 billion shares in a block trade valued at $1 billion (AED 3.7 billion), was one of the largest private share purchases in a UAE-listed company.
Recently, the Aldar-ADQ consortium reached an agreement with the Egyptian property development firm Sixth of October for Development and Investment Company (SODIC) to acquire the company’s majority stake in a transaction valued at $387 million.
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