Middle East

Alpha Dhabi acquires shares in Aldar and becomes the largest shareholder

Alpha Dhabi Holding has increased its stake in Aldar Properties, not only becoming Aldar’s parent company, but also strengthening its role as the single largest shareholder.

With this move, Alpha Dhabi has expanded its stake in Aldar, complementing its existing majority representative on Aldar’s board of directors.

Alder will be treated as a subsidiary in Alpha Davi’s consolidated financial statements and its impact will be reflected in the results for the second quarter of 2022 and beyond. Additional stakes were brought about by the acquisition by Alpha Dhabi, an entity that already holds shares in Aldar, after the necessary regulatory approvals.

Hamad AlAmeri, CEO of AlphaDhabi Holding, commented: As a long-term strategic shareholder, Alpha Dhabi will continue to support Aldar’s management as it implements its transformative growth agenda. “

“The macroeconomic environment in the United Arab Emirates and its region as a whole remains strong, supported by rising oil prices and the accompanying sustained economic growth. The best place for the United Arab Emirates to live, work and visit. There are many economic, social and regulatory policies and initiatives that strengthen our position as a destination and thereby increase the demand for real estate. As a result, the United Arab Emirates, Alder, is a major business operator. High-demand asset classes have emerged across markets and recently entered new markets such as Egypt. “

Focus on growth

Driven by its diverse asset base, Alder continues to provide strong financial performance and shareholder interests. Over the last 12 months, we have entered new regions and asset classes and achieved strong organic growth in our core markets. The company recorded record annual development sales in 2021, doubling sales from the previous year and expanding UAE’s Land Bank.

In addition, it entered the Egyptian market and strengthened the diversification of the UAE through its expansion into Ras Al Khaimah.

read: Aldar Properties acquires Rixos Bab Al Bahr for Dhs770m, bringing the total investment in RAK to Dhs1.5b.n

The company also implemented a regional expansion plan and entered the logistics real estate sector for the first time.

Read: Aldar Investment launches logistics real estate industry

In addition, Aldar is collecting investments from global leaders such as Apollo, who recently invested $ 1.4 billion in strategic growth capital by cashing Aldar’s long-term land banks and equity investments into its flagship investment real estate platform. .. In the future, this money and existing cash and equipment will be deployed to realize the company’s growth ambitions.

In recent news, Alpha Dhabi Holding and International Holding Company (IHC) has announced that it will invest $ 50 million in SpaceX, a California-based aerospace company founded by billionaire and Tesla CEO Elon Musk.

read: Abu Dhabi’s IHC, Alpha Dhabi Invests $ 50 Million in SpaceX at Elon Musk

https://gulfbusiness.com/alpha-dhabi-ups-stake-in-aldar-becomes-its-single-largest-shareholder-and-parent-company/ Alpha Dhabi acquires shares in Aldar and becomes the largest shareholder

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