Alpha Dhabi Holding, one of the largest and fastest-growing investment holding companies in the Middle East, on Thursday announced a 400 percent jump in revenue to AED18.8 billion ($5.1 billion) for 2021.
Its preliminary financial results also showed a significant rise in gross profit of AED5.1 billion in 2021 compared to AED218 million for the previous year.
Alpha Dhabi Holding said its performance was driven by “strong and consistent business activities” mainly in the healthcare, construction and hospitality verticals.
With AED10 billion in paid capital and a workforce around 60,000, Alpha Dhabi Holding is in “the ideal position” to achieve economic diversity and maximize efficiency through strategic investments locally and internationally, said Hamad Salem Alameri, CEO and managing director.
“We have achieved significant progress against our strategic priorities in 2021, culminating in a solid operational performance in the fourth quarter. Alpha Dhabi reported very strong commercial results across all of its key performance drivers.”
Alpha Dhabi Holding made strategic investments in 2021 by acquiring a 17.5 percent stake in Aldar Properties which was increased to 30 percent at the year-end, a 70 percent stake in Mawarid Holding Investment, and AED1 billion in TA’ZIZ, an industrial service, and logistics organisation.
The company also bought a 68.5 percent stake in National Marine Dredging Company, 40 percent of Response Plus Medical and 65 percent of Sandstorm Motor Vehicles Manufacturing.
“We enter 2022 with strong momentum and are moving with speed to bring forward new business acquisitions that will contribute to the company’s AED8 billion investments plan in real estate, hospitality, healthcare, petrochemicals and other vital sectors; this remains at the core of our strategy this year,” added Alameri.
Established in 2013, Alpha Dhabi Holding said it will continue its investment in its core platforms, including healthcare, real estate and construction business inside and outside the UAE.
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