Abu Dhabi-based Alpha Dhabi Holding has increased its stake in Aldar Properties, reaffirming its position as the single largest shareholder and consequently becoming Aldar’s parent company.
Through this latest additional stake, Alpha Dhabi has raised its shareholding of Aldar, to complement its existing majority representation on Aldar’s Board of Directors. Accordingly, Aldar will be treated as a subsidiary in Alpha Dhabi’s consolidated financial statements, the impact of which will be reflected in its financial results for Q2 2022 onwards. The additional shareholding came through the acquisition by Alpha Dhabi of an entity already holding shares in Aldar, which comes after necessary regulatory approvals.
As a leading regional real estate developer and manager, Aldar continues to deliver strong financial performance and shareholder returns, driven by its maturing Abu Dhabi business and its diversified asset base. Aldar is pursuing a transformational growth agenda, demonstrated by entry into new geographies and asset classes, as well as robust organic growth in its core market in the past 12 months.
Aldar recorded its highest-ever annual development sales in 2021, doubling from the previous year’s sales, and has expanded its land bank in the UAE. Additionally, Aldar entered the high-potential Egyptian market as well as enhancing its UAE diversification through its expansion to Ras Al Khaimah, which has emerged from the pandemic as a key investment destination.
The company also made its first entry into the logistics real estate sector with regional expansion plans in place. Moreover, Aldar is attracting investment from global leaders like Apollo, which recently invested $1.4bn of strategic growth capital through a monetisation of Aldar’s long-term land bank and equity investments into its flagship investment properties platform. Looking ahead, this funding as well as existing cash and facilities will be deployed to realise the company’s growth ambitions.
Also published on Medium.