Firm targets stakes in real estate, hospitality, healthcare, petrochemicals
Abu Dhabi’s Alpha Dhabi Holding, a subsidiary of International Holding Co. (IHC), has announced plans to invest up to 8 billion dirhams ($2.17 billion) across core sectors.
The investments will be in real estate, hospitality, healthcare, petrochemicals and other sectors in the UAE and abroad, the state holding company said in a filing on Thursday to the Abu Dhabi Securities Exchange (ADX).
Hamad Al Ameri, Managing Director and CEO of Alpha Dhabi Holding, noted that the conglomerate achieved a nine-month revenue of more than 11.4 billion dirhams this year, a 341 percent growth over a year earlier and “driven by investments in a diverse range” of businesses.
ADH already holds a 12.1 percent stake in Aldar, the Abu Dhabi real estate company with a 20-billion-dirham portfolio of real estate assets across the retail, residential, office, education and hospitality sectors.
Last May, Alpha Dhabi fully acquired investment firm Murban, whose hospitality assets include St. Regis at Saadiyat, Al Wathba Luxury Collection Desert Resorts, Cheval Blanc Randheli resort in the Maldives and Etihad International Hospitality.
Last month, it said that it in partnership with ADQ, it would invest $375 million in the methanol business of the Netherlands-based OCI N.V, to develop methanol as a clean hydrogen-based fuel.
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