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Alpha Dhabi Holding PJSC (ADH), a conglomerate headquartered in the UAE, announced the acquisition of an additional 17% stake in Aldar Properties PJSC, one of the leading real estate development, management and investment groups in the UAE.The acquisition will increase Alpha Dhabi Holding’s stake in Aldar Properties to 29.8%, making it one of the largest shareholders.
Britain. Hamad Salem Mohamed Al-Ameri, Managing Director and Chief Executive Officer of Alpha Dhabi Holding, Said: “The real estate industry has witnessed a significant recovery in 2021. Due to the country’s post-pandemic strategic flexibility and agility, the demand for residential, commercial, hotel and logistics units continues to grow.”
Earlier this year, Alpha Dhabi Holding acquired a 12.8% strategic stake in Aldar Properties. The transaction involved the transfer of approximately 1 billion shares in a block transaction valued at AED3.7 billion, and was one of the largest private equity purchase transactions for a listed company in the UAE. In this latest investment, Alpha Dhabi Holding has completed the acquisition of Sublime 2, Sogno 2 and Sogno 3, which together own 17% of Aldar Properties PJSC.
“Aldar’s rapid growth, strategic expansion plans and project pipeline represent the right investment for ADH and our shareholders. Many of Aldar’s projects differ between local, regional and international markets, and are in line with our vision for ADH to open up new markets. “Al Ameri added.
The acquisition is in line with Alpha Dhabi Holding’s recently announced Expansion plan and future strategy, tPlan to invest 8 billion dirhams to invest in real estate, hotels, healthcare, petrochemicals and other promising industries inside and outside the UAE.
Recently, Aldar announced that through a consortium with ADQ, it will own 85.52% of the outstanding equity of Egyptian developer SODIC. The goal of the consortium is to enhance SODIC’s position as the country’s leading developer in terms of scale and reputation, and to expand its portfolio of mixed-use residential communities in Greater Cairo, the North Coast and other major markets.
As a major contributor to the UAE, Alpha Dhabi Holding and Aldar Development share the same vision. Aldar is the most desirable destination in Abu Dhabi (including Yas Island, Saadiyat Island, Al Raha and Reem). The main developer island of the Juhe Prosperous community. It is responsible for the development of Aldar’s diversified strategic land bank, including three businesses: Aldar Projects, which manages Aldar’s fee-based development management business, including AED45 billion government housing and infrastructure projects; Aldar Ventures, which incubates and cultivates new businesses Opportunities and areas of innovation; and Aldar Egypt, the platform focuses on the development of mixed-use communities in Egypt.
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