Alpha Abu Dhabi Holding, listed on the Abu Dhabi Securities Exchange, has increased its stake in Aldar Properties, becoming the parent company of Aldar Properties and enhancing its position as the largest strategic shareholder in the company.
Under this deal, Alpha Abu Dhabi Holding will become the majority representative on the Board of Directors of Aldar Properties, as its financial statements will be fully integrated with the holding company in accordance with accounting standards, which will be reflected in the financial results of Alpha Abu Dhabi from the second quarter of 2022 onwards. Alpha Abu Dhabi’s increase in its stake in Aldar Properties came by acquiring a company that already owns shares in Aldar Properties, and in this regard it obtained a waiver in accordance with the regulatory procedures.
Hamad Al Ameri, CEO of Alpha Holdings, said: “We are confident that Aldar has great growth potential thanks to its unique vision and ambitious strategy, which we always support. As a long-term strategic contributor, she has supported Aldar’s management team as they play their role in translating the goals of the company’s transformational growth plan.”
Al Ameri added, “The macroeconomic environment in the UAE in particular, and the region in general, has strong growth prospects, supported by high oil prices accompanied by sustainable economic growth. This resulted in an increase in demand within the real estate market, and as a result, we have witnessed an increasing interest in real estate assets across the Emirates, as it is the main market for the house, in addition to the new markets it has recently entered, including Egypt.”
It should be noted that Aldar Properties recorded the highest annual sales in its history during the year 2021, doubling the sales of the previous year, and worked to expand its strategic stock of land in the UAE. The UAE by expanding its geographical presence to Ras Al Khaimah, which has emerged as a strong investment destination during the pandemic, and the group also announced its entry into the logistics assets sector through the Aldar Logistics Assets business unit in the Emirates, with future plans for regional expansion.
Aldar continues its plans to attract global strategic investments such as Apollo, which recently injected $1.4 billion in investments into the group, which will enable the group to achieve long-term cash returns through its large stock of land and secure additional sources of growth capital.