“International Holdings” acquisition of the majority stake in “Al Qudra”

The International Holding Company, headquartered in Abu Dhabi, has acquired a majority stake in Al Qudra Holding Company.

According to Arabianet, this acquisition will enable the International Holding Company to expand its portfolio in real estate, services and hospitality, as Al Qudra Holding has had a large group of clients since its establishment in 2005, including Al Manara Bay, a mixed-use project covering approximately 52,000 square meters in Abu Dhabi. and Barari Ain Al-Fadida in Al Ain, a project comprising 2,500 housing units.

The company also currently owns more than 12 subsidiaries distributed in the real estate, services, hospitality, investment, oil and gas sectors.

Sheikh Abdullah bin Muhammad bin Butti Al Hamed, Chairman of the Board of Directors of Al Qudra Holding Company, said: Al Qudra Holding Company is going through an important stage in its history, due to the fact that the International Holding Company is a major shareholder, we are in a good position to accelerate and enhance all Al Qudra projects in all fields. The company offers unique investment opportunities and has facilitated the development of various projects that meet the needs of the local and regional market.

Al Qudra Holding operates as an investment holding company through its subsidiaries. Al Qudra focuses its investments and strategic partnerships in core sectors nationwide, such as oil and gas, banking, and finance.. As part of its diversification strategy, the company has investments in select industries, such as real estate. services and hospitality.

For his part, Sayed Basr Shuaib, CEO and Managing Director of IHC, said that the acquisition is in line with IHC's plan for investment, which was revealed this year in many sectors, including real estate, which will create immediate growth and value for our shareholders.

Earlier this month, the International Holding Company agreed to merge the two Tamouh Investment and Al Qudra Holding companies, while Al Qudra Holding Company issued mandatory convertible bonds to the shareholders of Tamouh Investment Company, and the Board of Directors of Al Qudra Holding approved a new limit on foreign ownership of 30% of the shares. The list, subject to regulatory approvals from the competent authorities.