Alpha Dhabi Holding, already one of the most significant shareholders in Abu Dhabi developer Aldar, has increased its stake to 29.8%. The acquisition is in line with Alpha Dhabi Holding’s recently announced expansion plan, which targets Dh8 billion to invest in real estate, hospitality, healthcare, petrochemicals, and other promising sectors within and outside of the UAE.
Last year, Alpha Dhabi acquired a 12.8% “strategic stake”, which involved the transfer of around 1 billion shares in a block transaction valued at Dh3.7 billion. The deal was one of the largest private purchases of shares in a UAE-listed company. Alpha Dhabi has acquired Sublime 2, Sogno 2, and Sogno 3 which together own 17 percent of Aldar in its latest investment.
According to Hamad Salem Mohamed Al-Ameri, Managing Director and CEO of Alpha Dhabi Holding, “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.
“Aldar’s rapid growth, strategic expansion plan, and projects pipeline represents 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.”