UAE-based Alpha Dhabi Holding announced its acquisition of an additional 17 percent shareholding of Aldar Properties, raising its stakes to 29.8 percent and making it one of the largest shareholders in the Abu Dhabi master-developer.
“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,” said Hamad Salem Mohamed Al-Ameri, managing director and CEO of Alpha Dhabi Holding.
In this latest investment, Alpha Dhabi Holding has completed the acquisition of Sublime 2, Sogno 2 and Sogno 3, which together own 17 percent of Aldar Properties.
In late 2020, the investment firm acquired a 12.8 percent strategic stake in Aldar Properties, involving the transfer of around 1 billion shares in a block trade valued at AED 3.7 billion, making it one of the largest private share purchases in a UAE-listed company.
“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,” added Al Ameri.
The acquisition comes in line with Alpha Dhabi Holding’s recent expansion plan, targeting AED8bn for investments in real estate, hospitality, healthcare, petrochemicals, and other promising sectors inside and outside the UAE.
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