Toomaj Salehi risks being hanged after the conviction on the Shariah charge of "corruption on Earth" by a Revolutionary Court
The UAE based conglomerate Alpha Dhabi Holding (ADH) has acquired an additional 17 per cent stake in Abu Dhabi’s largest property developer Aldar Properties, taking its stake to 29.8 per cent.
The stake was sold for an estimated $1.5 billion (Dh5.5 billion).
Early this year, Alpha Dhabi Holding had acquired a 12.8 per cent stake in Aldar Properties. The transaction, which involved the transfer of around 1 billion shares in a block trade valued at Dh3.7 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 per cent of Aldar Properties.
ALSO READ:
“The real estate sector has been witnessing an outstanding recovery during 2021, 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,” said Hamad Salem Mohamed Al-Ameri, Managing Director and CEO of Alpha Dhabi Holding.
"Aldar’s rapid growth, strategic expansion plan and projects 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.
Alpha Dhabi Holding is targeting Dh8 billion 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 per cent of Egyptian developer Sodic’s outstanding share capital.
-waheedabbas@khaleejtimes.com
Toomaj Salehi risks being hanged after the conviction on the Shariah charge of "corruption on Earth" by a Revolutionary Court
Aid groups warn any invasion would add to already-catastrophic conditions for Gaza's 2.4 million people
The American they will face Australia and Serbia on July 15 and July 17 as part of their preparation for the Paris Olympic Games
The leaders emphasise that the deal to release the hostages would bring an immediate and prolonged ceasefire in Gaza
Dubai-based Sumit Augustine has had a philosophical approach towards spending
The regional upswing also defies oil production cutbacks
It's a treatise that would determine the course of your life, not just academically, but as a person too
A US-based company is developing an eVTOL aircraft for commercial passenger service and is expected to start operations by 2025 or early 2026