Alpha Dhabi Holding has increased its stake in Aldar Properties, becoming its largest shareholder and, consequently, 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.
Hamad Al Ameri, CEO of Alpha Dhabi Holding, commented, “We are firm believers and supporters of Aldar’s equity story, vision and strategy as well as the positive and strong strides it continues to make in growing and scaling its platforms. As a long-term strategic shareholder, Alpha Dhabi will continue to support Aldar’s management team as they execute its transformational growth agenda.”