Stock Noya Aldar
Aldar has been on an offplan launch offensive through 2021 and also made an entry into Egypt. Image Credit: Supplied

Dubai: Alpha Dhabi Holding, already one of the biggest shareholders in Abu Dhabi master-developer Aldar, has raised its stake to 29.8 per cent. The acquisition comes in line with Alpha Dhabi Holding's recently announced expansion plan and future strategy, targeting Dh8 billion for investments in real estate, hospitality, healthcare, petrochemicals, and other promising sectors inside and outside the UAE.

It was last year that Alpha Dhabi acquired a 12.8 per cent "strategic stake", which involved the transfer of around 1 billion shares in a block trade valued at Dh3.7 billion. It was one of the largest private share purchases in a UAE listed company. In the latest investment, Alpha Dhabi has completed the acquisition of entities Sublime 2, Sogno 2 and Sogno 3 which together own 17 per cent in Aldar.

According to Hamad Salem Mohamed Al Ameri, Managing Director and CEO of Alpha Dhabi Holding, “The real estate sector has been witnessing an outstanding recovery during 2021. Demand for residential, commercial, hospitality and logistics units continue to grow as a result of the resilience and agility of the country’s post-pandemic strategy.

"Aldar’s rapid growth, strategic expansion plan and projects pipeline represent the right investment for ADH and our shareholders. Aldar's many projects vary between local, regional and international markets and align with our vision for ADH to explore new markets.”