Alpha Dhabi Holding raises stake in Aldar Properties to 30%

ABU DHABI, 3rd January, 2022 (WAM) -- Alpha Dhabi Holding (ADH) has announced the acquisition of an additional 17 percent shareholding of Aldar Properties. The acquisition will increase Alpha Dhabi Holding’s shares in Aldar Properties to 29.8 percent, making it one of the largest shareholders, said an ADH statement on Monday.

Commenting on the announcement, Hamad Salem Mohamed Al Ameri, Managing Director and CEO of Alpha Dhabi Holding, said, "The real estate sector has been witnessing an outstanding recovery during 2021, and demand for residential, commercial, hospitality and logistics units continue to grow as a result of the resilience and agility of the country’s post-pandemic strategy."

Early this year, Alpha Dhabi Holding acquired a 12.8 percent strategic stake in Aldar Properties. The transaction, which involved the transfer of around one billion shares in a block trade valued at AED3.7 billion, was one of the largest private share purchases in a UAE listed company. In this latest investment, Alpha Dhabi Holding has completed the acquisition of Sublime 2, Sogno 2 and Sogno 3 which together own 17 percent of Aldar Properties.

"Aldar’s rapid growth, strategic expansion plan and projects in pipeline represent the right investment for ADH and our shareholders. Aldar's many projects vary between local, regional and international markets and align with our vision for ADH to explore new markets," Al Ameri added.

The acquisition comes in line with Alpha Dhabi Holding's recently announced expansion plan and future strategy, targeting AED8 billion for investments in real estate, hospitality, healthcare, petrochemicals, and other promising sectors inside and outside the UAE.

Recently, Aldar announced that through a consortium with ADQ, it will own 85.52 percent of Egyptian developer SODIC’s outstanding share capital. The consortium’s objective is to advance SODIC’s position as a leading national developer by scale and reputation, growing its portfolio of mixed-use residential communities in Greater Cairo, the North Coast and other major markets.

Alpha Dhabi Holding and Aldar Development vision aligns together as a major contributor to the UAE, Aldar is a master developer of integrated, liveable, and thriving communities across Abu Dhabi’s most desirable destinations. It is responsible for developing Aldar’s diverse strategic land bank and includes three businesses: Aldar Projects, which manages Aldar's fee-based development management business, including AED45 billion of government housing and infrastructure projects; Aldar Ventures, which incubates and nurtures new business opportunities and innovation areas; and Aldar Egypt, the platform focused on developing mixed-use communities in Egypt.