Alpha Dhabi raises stake in Aldar to become Abu Dhabi developer’s parent company

Alpha Dhabi Holding has raised on Wednesday its stake in Aldar Properties to become the parent company of the property developer, according to the company’s statement.

The company informed that the deal has received all necessary approvals, without mentioning any further details.

This move has strengthened the company’s role to become the single largest shareholder, in addition to expand its property investment portfolio, the statement added.

“We are firm believers and supporters of Aldar’s equity story, vision, and strategy as well as the positive and strong strides it continues to make in growing and scaling its platforms,” said Alpha Dhabi’s CEO, Hamad Al Ameri.

Alpha Dhabi will continue to support Aldar’s management team while they execute its transformational growth agenda, he added.

Al Ameri said that there have been a number of economic, social and regulatory policies issued by the UAE that supported the real estate market.

“The result is an in-demand asset class across the UAE, the key market in which Aldar operates, as well as new markets it has recently entered into such as Egypt,” he mentioned.