Alpha Abu Dhabi Holding Company acquired an additional 17% stake in Aldar Properties, increasing its stake to 29.8% and thus becoming one of the largest shareholders in Aldar Properties.
According to Arab Net, Engineer Hamad Salem Mohammed Al Ameri, CEO and Managing Director of Alpha Abu Dhabi Holding Company, said, in a statement on the Abu Dhabi Financial Market, that the real estate sector is witnessing a recovery and an increasing rise in demand for residential and commercial units, hospitality real estate and logistics real estate, thanks to government strategies that It is flexible and quickly adapts to global developments.
Al Ameri added that the plan and projects of Aldar Properties represent the appropriate investment for Alpha Abu Dhabi Holding Company and the rest of the shareholders, as Aldar’s projects vary between local, regional and international markets, which is in line with Alpha Abu Dhabi’s vision that looks forward to exploring new markets in the near future.
It is reported that Alpha Abu Dhabi Holding acquired a 12.8% strategic stake in Aldar Properties at the beginning of 2021, which included the transfer of one billion shares in a deal worth 3.7 billion dirhams. .
In accordance with its expansion plan, Alpha Abu Dhabi Holding announced the acquisition of Sublime 2, Songo 2 and Songo 3, who own 17% of Aldar Properties, increasing Alpha Abu Dhabi shares more than a quarter of Aldar shares 29.8%, the leading real estate development and property management company.
This step comes within the framework of the company's recently announced expansion plans, and includes a financial budget of 8 billion dirhams to invest in various vital and strategic sectors inside and outside the UAE, such as real estate and hospitality. Healthcare, petrochemicals and other promising sectors.
The alliance of Aldar Real Estate Company and ADQ Holding Company announced its acquisition of 85.52% of the outstanding capital of the Sixth of October Development and Investment Company, SODIC.
Aldar Properties owns a portfolio worth 45 billion dirhams of citizen housing and key infrastructure projects, and Aldar Entrepreneurship, which seeks to capture new business opportunities and develop areas of innovation, and Aldar Misr, which is A platform focused on the Egyptian real estate market.
