GuestPosts.Biz
ONLY webinars - visit onlywebinars.com ONLY webinars - visit onlywebinars.com
Advanced Search
Home / News / News Archive
News Archive
   


Alpha Dhabi Holding Enters Into Strategic Partnership With ADQ
(16 April 2024)

 

Alpha Dhabi Holding has announced that it will divest 49% of its subsidiary Alpha Dhabi Construction Holding (ADCH) to ADQ, an Abu Dhabi-based investment and holding company.

ADH will retain a 51% shareholding in ADCH, continuing its commitment to the construction sector in strategic partnership with ADQ.

The partnership will combine the expertise and capabilities of ADCH and ADQ, solidifying ADCH’s position as an industry leader and an engine of the Emirate’s growth. The transaction is subject to customary closing conditions, including regulatory approvals.

Hamad Al Ameri, CEO and MD of ADH and the newly appointed Chairman of ADCH, commented, “Our partnership with ADQ is a transformative step for ADCH, marking a new era of strategic growth and innovation. With a shared vision for excellence, this collaboration allows us to deepen our commitment to national development, enabling us to tackle complex, large-scale projects with a keen focus on safety, quality, and timely delivery. Together, we are poised to set new benchmarks in the dynamic construction industry, driving progress and prosperity in our region.”

Hamad Al Hammadi, Deputy Chief Executive Officer of ADQ, said, “With a longstanding focus on investing in infrastructure assets in line with our mandate, we welcome the opportunity to invest in ADCH as it enters the next phase of its impressive journey in spearheading the development of landmarks and coveted real estate developments in the UAE. We are confident that ADCH will benefit from being part of our diverse portfolio and leverage the opportunities this will unlock.”

The size of UAE construction market is estimated at US$41 billion in 2024 and expected to grow to over US$50 billion by 2029.

The construction industry in Abu Dhabi has been witnessing continuous expansion, growing by 14.3 percent and contributing AED25 billion to the Emirate’s GDP in the third quarter of 2023.

Significant large-scale investments in construction across Abu Dhabi provide new housing opportunities, create new employment, and contribute to the diversification of the Emirate’s economy.



We accept Guest Posts

Download the Dubai City Guide iPhone mobile app


DubaiCityGuide.com is owned and managed by Cyber Gear



advertisement info

  All fields are mandatory
Your Name
Email
City
Country
Your Comments
 Max 250 characters - Word Count :
Image Verification
Change Image

     

 
email print
 
       
       
       
       


News Alerts
News Alerts
Stay ahead with abu dhabi news
dcg mobile
adcg Mobile
With you wherever you go
rss feed
RSS Feeds
Get the latest
dubai blog
Abu Dhabi Blog
Your space, your voice
sitemap
Sitemap
ADCG at a glance