Abu Dhabi – Mubasher: Alpha Dhabi Holding has completed its divestment of 49% of its subsidiary Alpha Dhabi Construction Holding (ADCH) to Abu Dhabi-based investment and holding company ADQ.
Alpha Dhabi Holding will hold a 51% stake in ADCH, according to a press release.
The new partnership combines the expertise and capabilities of ADCH and ADQ, anchoring ADCH’s position as an industry leader and an engine of the Emirate’s growth.
Hamad Al Ameri, CEO and Managing Director of Alpha Dhabi Holding, commented: “With a shared vision for excellence, this collaboration allows us to deepen our commitment to national development and will expand our capabilities to tackle complex, large-scale projects with a keen focus on safety, quality, and timely delivery.”
This deal marks a new era of innovation in the construction industry, integrating the strengths of both entities to reinforce Alpha Dhabi Construction Holding's leadership.
In the first half (H1) of 2024, the ADX-listed group generated net profits valued at AED 6.68 billion, compared to AED 10.33 billion in H1-23.
