Alpha Dhabi Holding has made its second major real estate investment in two days, this time buying a 25.24 percent stake in Al Qudra Holding. Alpha Dhabi had previously increased its stake in Aldar Properties to around 30 percent.
“We are constantly reviewing our portfolio in line with the Board’s strategic directives and looking at ways in which we can optimize it,” said Hamad Salem Mohamed Al Ameri, Managing Director, and CEO of Alpha Dhabi Holding. “Al Qudra’s business strategy is a perfect fit for ADH, and this acquisition will add considerable shareholder value as we continue investing in carefully selected industries with sustainable growth potential, as the company is active in unique investment opportunities and has facilitated the development of various projects that meet the local and regional market needs.”
The back-to-back investments are part of a Dh8 billion investment plan Alpha Dhabi has drawn up for increasing its exposure to real estate, hospitality, and other mixed-use projects.
Al Qudra announced last month that it had merged with Al Tamouh Investments, another Abu Dhabi entity. The conversion will be effected through convertible bonds valued at Dh2.244 billion, held by International Holding Company and which will be converted into the newly issued share capital of Al Qudra.