Alpha Dhabi Holding raises stake in Aldar Properties to 30%

Alpha Dhabi Holding raises stake in Aldar Properties to 30%

Alpha Dhabi Holding (ADH) has announced the acquisition of an additional 17 per cent shareholding of Aldar Properties. The acquisition will increase Alpha Dhabi Holding’s shares in Aldar Properties to 29.8 per cent, making it one of the largest shareholders, said an ADH statement on Monday. Earlier this year, ADH acquired a 12.8 per cent strategic stake in Aldar Properties. The transaction, which involved the transfer of around one billion shares in a block trade valued at Dhs3.7bn, 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. Commenting on the announcement, Hamad Salem Mohamed Al Ameri, managing director and CEO of Alpha Dhabi Holding, said, “The real estate sector has been witnessing an outstanding recovery during 2021, and 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.” “Aldar’s rapid growth, strategic expansion plan and projects in pipeline represent the right investment for ADH and our shareholders. Aldar’s many projects vary between local, regional