Abu Dhabi - Mubasher: The board of Alpha Dhabi Holding has approved expansion plans across different key sectors, including real estate, hospitality, healthcare, and petrochemicals, inside and outside the UAE, with an AED 8 billion investment target.
Holding a 12% stake in Aldar, the company seeks to enter into various investments to expand its real estate portfolio and grow its construction business, according to a press release on Thursday.
This expansion is in line with the company's objective to grow its portfolio by developing, acquiring, and investing in emerging companies and supporting innovation and diversity.
The Managing Director and CEO of Alpha Dhabi Holding, Hamad Al Ameri, commented: "As a platform offering huge potential for progress and growth, we are already in discussions with certain groups in promising sectors inside the UAE and equally we will continue our pursuit of strategic international investment opportunities."
Meanwhile, Al Ameri added: "We believe that a carefully administered investment of AED 8 billion will help fulfill our responsibility to shareholders, adding value by expanding our diverse portfolio."
It is noteworthy to mention that during the first nine months (9M) of 2021, Alpha Dhabi Holding reported AED 2.155 billion net profits attributable to the owners, compared to AED 186.252 million in the year-ago period.
