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Alpha Dhabi Holding Partners with ADQ to Sell 49% Stake in Subsidiary
By KlickAnalytics Data Insights | October 2, 2024 08:01AM ET
- Alpha Dhabi Holding will maintain a 51% stake in ADCH, creating a strategic partnership
- The collaboration aims to strengthen ADCH's position in the industry and support the growth of the Emirate
In a recent development, Alpha Dhabi Holding announced the successful divestment of 49% of its subsidiary, Alpha Dhabi Construction Holding (ADCH), to ADQ, an investment and holding company based in Abu Dhabi. As a result of the transaction, Alpha Dhabi Holding will retain a majority stake of 51% in ADCH, as outlined in a press release.
The partnership between Alpha Dhabi Holding and ADQ is set to leverage the collective expertise and capabilities of both entities to solidify ADCH's status as a leader in the industry. Through this collaboration, the companies aim to drive growth, innovation, and excellence in the construction sector, reinforcing their commitment to national development.
Hamad Al Ameri, the CEO and Managing Director of Alpha Dhabi Holding, expressed enthusiasm for the partnership, emphasizing how it will enable the companies to tackle large-scale projects with a focus on safety, quality, and timely execution. The deal signifies a new era of innovation in the construction industry, harnessing the strengths of both organizations to enhance ADCH's leadership position.
In the first half of 2024, Alpha Dhabi Holding reported net profits of AED 6.68 billion, showcasing its financial performance in the market. This strategic move is expected to further bolster the portfolio and capabilities of both Alpha Dhabi Holding and ADQ, positioning them for continued success and growth in the construction sector.
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