Dubai: Alpha Dhabi Holding PJSC, one of the largest and fastest-growing investment holding companies in the Middle East, reported a nearly 400 per cent revenue growth in 2021, it said on Thursday as it announced its preliminary financial results.
The company reported revenue of Dh18.8 billion compared to Dh3.80 billion in 2020, while gross profit touched Dh5.1 billion in 2021 compared to Dh218 million for the previous year.
The performance was driven by the subsidiaries’ strong and consistent business activities, mainly by the health care, construction business and hospitality verticals.
Hamad Salem Alameri, CEO and Managing Director of Alpha Dhabi Holding, said: “We have achieved significant progress against our strategic priorities in 2021, culminating in a solid operational performance in the fourth quarter. Alpha Dhabi reported very strong commercial results across all of its key performance drivers.”
Alpha Dhabi Holding made strategic investments in 2021 by acquiring a 17.5 per cent stake in Aldar, which was increased to 30 per cent at the year-end, 70 per cent stake in Mawarid Holding Investment, and Dh1 billion in TA’ZIZ, an industrial service and logistics organisation. The company also bought a 68.5 per cent stake in National Marine Dredging Company, 40 per cent of Response Plus Medical, and 65 per cent of Sandstorm Motor Vehicles Manufacturing.
“We enter 2022 with strong momentum and are moving with speed to bring forward new business acquisitions that will contribute to the company’s Dh8 billion investments plan in real estate, hospitality, healthcare, petrochemicals, and other vital sectors; this remains at the core of our strategy this year.” Alameri added.
