Abu Dhabi’s Alpha Dhabi hits a record Dh5.2b in ’21 net profits

Abu Dhabi’s Alpha Dhabi hits a record Dh5.2b in ’21 net profits

Dubai: One of the UAE’s biggest real estate investment companies, Alpha Dhabi, pulled out a ‘record’ net profit of Dh5.2 billion for 2021, a substantial increase on the Dh218 million the year before. The latest numbers were built on revenues touching Dh18.8 billion (Dh3.8 billion in 2020), as Alpha Dhabi gained from a series of strategic deal-making, including being one of the biggest shareholders in Aldar Properties. The company is now planning to make a push outside of the UAE as well, with Egypt a prime candidate. Hamad Al Ameri, CEO, said: "Alpha Dhabi’s record profit performance continues to show the resilience and strength of our platform. Our growth plans are underpinned by a solid pipeline of investment opportunities across our core sectors and a measured approach, which leave us strongly positioned to deploy capital effectively in the pursuit of building scale and enhancing diversification across our growing portfolio.” A more recent investment was in another Abu Dhabi entity, . The investment strategy will lock in on established operations that generate income and are ‘value-accretive’ to the company’s portfolio. The blueprint for such investments will be what Alpha Dhabi achieved with Aldar. “Alpha Dhabi will continue to invest in businesses