Abu Dhabi’s Al Qudra Holding will allow non-UAE nationals to own a maximum of 30 percent of the company’s capital, according to a statement from the company.
Al Qudra’s capital stands at AED5.51 billion, and the Abu Dhabi-based holding firm is actively expanding and diversifying its operations through acquisitions and launching new projects in various sectors, the statement said.
In December, Abu Dhabi’s IHC acquired the majority and controlling stake in Al Qudra Holding. Al Qudra Holding has built out a large portfolio of customers since its founding in 2005, including Manarah Bay, a multi-usage project covering about 52,000 square metres in Abu Dhabi and Barary Ain Al Fayda Development in Al Ain, a project comprises 2,500 residential units.
The company currently has more than 12 subsidiaries spread across real estate, services, hospitality and oil and gas sectors.
Sheikh Abdulla Bin Mohamed Bin Butti Al Hamed, chairman of Al Qudra Holding PJSC, said in the statement that the company is committed to expanding its operations through launching and tendering for a number of new projects at a combined value in excess of AED20bn.
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