Alpha Dhabi’s growth strategy powers AED 7.3 billion net profit growth

Alpha Dhabi’s growth strategy powers AED 7.3 billion net profit growth

ABU DHABI, 5th May, 2023 (WAM) --Alpha Dhabi Holding PJSC (“Alpha Dhabi” or “the Group”), one of the fastest-growing investment holding companies in the MENA region, listed on the Abu Dhabi Securities Exchange (ADX: AlphaDhabi), has announced its financial results for the three-month period ending 31st March 2023.

Alpha Dhabi reported a strong set of first quarter financial results with net profit up 161 percent year-on-year to AED 7.3 billion (Q1 2022: AED 2.8 billion), which includes a fair value gain as a result of the derecognition of Pure Health Holding LLC. Revenues also grew significantly to reach AED 12.8 billion, representing a 56 percent year-on-year increase (Q1 2022: AED 8.2 billion), with contributions from the existing real estate and industrial portfolio continuing to be strong drivers of growth for the Group.

Alpha Dhabi continues to pursue acquisitions and investments as part of Its growth strategy and announced a partnership with Mubadala to co-invest in global credit opportunities. Alpha Dhabi and Mubadala aim to collectively deploy up to ~AED 9 billion (approximately US $2.5 billion) over the next five years, leveraging Mubadala’s long-term and strategic partnership with Apollo (NYSE: APO), one of the world’s largest alternative asset managers, to access high-quality private