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Wed 25 Mar 2020 10:06 AM

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Abu Dhabi increases ADDH's portfolio, rebrands as ADQ

Additional companies added to the renamed ADQ's portfolio include Abu Dhabi Securities Exchange (ADX) and Image Nation

Abu Dhabi increases ADDH's portfolio, rebrands as ADQ

Mohamed Hassan Alsuwaidi, chief executive officer, ADQ, said: "ADQ brings together some of Abu Dhabi’s most dynamic and ambitious enterprises."

Abu Dhabi Developmental Holding Company has increased its portfolio to 25 after the addition of 14 companies.

The company will also be known as ADQ going forward after unveiling a new brand identity.

Recent additions to ADQ’s portfolio include the General Holding Corporation, Senaat, whose subsidiaries span a range of sectors and encompass companies including Agthia, Al Foah, National Petroleum Construction Company, Emirates Steel Industries, Dubai Cables Company and Arkan Building Materials.

Shares of multiple renowned hotels and tourism facilities in Abu Dhabi have also been transferred to ADQ, including Qasr Al Sarab Desert Resort, Anantara Al Yamm Villa Resort, Anantara Al Sahel Villa Resort, Desert Islands Resort & Spa, Emirates Pearl for Development and Investment, B2B Hotels and Properties, Park Hospitality Investment, Tourism Investment Assets, and Qaryat Al Beri Resort Development Company.

Additional companies added to ADQ’s portfolio include Abu Dhabi Securities Exchange (ADX), Image Nation, and shares in the National Marine Dredging Company and Emirates Driving Company.

ADQ recently announced it had finalised its agreement to establish Wizz Air Abu Dhabi in partnership with European low-cost carrier Wizz Air.

'Abu Dhabi's most dynamic'

Mohamed Hassan Alsuwaidi, chief executive officer, ADQ, said: "ADQ brings together some of Abu Dhabi’s most dynamic and ambitious enterprises, so that we may act as a national champion on behalf of the government to maximise the performance and value creation by each of our portfolio companies, as well as their long-term impact on our society.

"In practice, we aim to enable them through collaboration to achieve excellence in terms of higher productivity, efficiency and quality that will help promote their operations and their business success in increasingly competitive markets at home and abroad. Each portfolio company has built its own powerful place in society and regional markets. We do not seek to change that, but to enhance it."

Companies already under the wing of ADQ, which was established in 2018, include Abu Dhabi Power Corporation, Abu Dhabi Sewerage Services Company, Abu Dhabi Ports Company, Higher Corporation For Specialised Economic Zones, Etihad Rail, Abu Dhabi Health Services Co. PSC, SEHA, National Health Insurance Company, Daman, Abu Dhabi General Services – Musanada, Abu Dhabi Airports Company, Abu Dhabi National Exhibitions Company (ADNEC), Modon Properties PJSC, Abu Dhabi Media and twofour54.

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