Dubai: Another blockbuster real estate transaction deal is in the offing in Abu Dhabi. Alpha Dhabi Holding, one of the biggest investment groups in the UAE, will decide on an offer from ADX-listed National Corporation for Tourism & Hotels to buy stakes by two of its subsidiaries in high profile assets.
These relate to stakes held by Alpha Dhabi Hospitality Holding and Murban Energy Ltd. have stakes in these companies:
- ADH Hospitality RSC Ltd.
- Muban (BVI) Holding Inc.
- Hill View Resorts (Seychelles)
Alpha Dhabi will be issuing resolutions to this effect on March 14, according to a statement issued on ADX. (The stock is trading at Dh15.88. Year-to-date, it's dropped 15.53 per cent.)
The deal will likely be done through the issuance of new shares by National Corporation for Tourism & Hotels to Alpha Dhabi or any of its subsidiaries.
Abu Dhabi has been seeing its fair share of mega corporate deals in real estate and other sectors. Most notably, there was the one that led to Q Holding consolidating all of the property assets held by ADQ and IHC into its fold. That brought in assets such as ADNEC.
Itself part of IHC, Alpha Dhabi is a diversified entity, with stakes in multiple blue-chip entities. This includes a sizeable holding in Aldar Properties.
