Alpha Dhabi becomes parent company of Aldar Properties

Alpha Dhabi Holding (ADH) has increased its stake in Aldar Properties, becoming its largest shareholder and parent company.

ADH, the Abu Dhabi-based multi-sector business group, already has majority representation on Aldar’s board of directors.

ADH said Aldar will now be treated as a subsidiary of it in the consolidated financial statements, the impact of which will be reflected in its financial results for Q2, 2022 onwards.

ADH said it hiked its stake in Aldar through the acquisition of the holding of an existing shareholder in the real estate company. The name of the entity was not disclosed.

“We are firm believers and supporters of Aldar’s equity story, vision and strategy as well as the positive and strong strides it continues to make in growing and scaling its platforms,” Hamad Al Ameri, CEO of Alpha Dhabi Holding, said.

DEWA, Alpha Dhabi
Hamad Salem Al-Ameri, CEO and managing director, Alpha Dhabi Holding.

“As a long-term strategic shareholder, Alpha Dhabi will continue to support Aldar’s management team as they execute its transformational growth agenda,” he added.

Al Ameri said the current strong macro-economic environment across the UAE, supported by a rise in oil prices and its sustained economic growth have bolstered the UAE’s status as a premier destination to live, work and visit, thereby increasing the demand for real estate in the country.

“The result is an in-demand asset class across the UAE – the key market in which Aldar operates- as well as new markets it has recently entered into such as Egypt,” he said.

Aldar has been pursuing a strong growth agenda, with its entry into new geographies and asset classes, as well as robust organic growth in its core market in the past 12 months.

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