Alpha Abu Dhabi Holding Company announced today to acquire an additional 17% stake in Aldar Properties, which increases its stake to 29.8% and makes it one of the largest shareholders of Aldar Properties.
For his part, the CEO and CEO of Alpha Holding Company, engineer Hamad Salem Mohammed Al Ameri, said in a statement to the Abu Dhabi financial market that the real estate sector is witnessing a recovery and an increasing increase in the demand for residential and commercial real estate units, real estate accommodation and real estate logistics, thanks to the government strategies that characterize Flexibility and speed of adaptation to global developments.
Al Ameri added that Aldar Properties’ plan and projects 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 in line with Alpha Abu Dhabi’s vision, which is looking forward to exploring new markets in the near future.
Interestingly, Alpha Abu Dhabi Holding acquired a strategic stake of 12.8% in Aldar Properties in early 2021, which included the transfer of one billion shares in an agreement 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, which own 17% of Aldar Properties, which increases Alpha Abu Dhabi’s shares to more than a quarter of the 29.8 Aldar shares. company in the field of real estate development and property management.
This step is part of the company’s recently announced expansion plans, which include a budget financial of 8 billion dirhams to invest in various vital and strategic sectors inside and outside the UAE, such as real estate, hospitality, healthcare, petrochemical and other promising sectors.
The alliance between Aldar Real Estate Company “Aldar” and the holding company “ADQ” announced the acquisition of 85.52% of the existing capital of the Egyptian Sixth of October Development and Investment “SODIC”.
Aldar Properties owns a 45 billion dirhams portfolio of city housing and major infrastructure projects, Aldar for Entrepreneurship, which seizes new opportunities for business and develops areas of innovation, and Aldar Misr, a platform focused on the Egyptian real estate market.
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