Abu Dhabi, 16 April, 2024 : ADQ, the Abu Dhabi-based investment group, has agreed to purchase a 49% stake in Alpha Dhabi Construction Holding from Alpha Dhabi Holding, a subsidiary of the Abu Dhabi conglomerate IHC. Despite the acquisition, Alpha Dhabi Holding will maintain a controlling interest with a 51% stake in the construction company.
Alpha Dhabi Construction Holding, known for its high-profile projects, has been involved in significant developments such as the Zayed National Museum and the Guggenheim Museum in Abu Dhabi. The company's portfolio also includes critical infrastructure projects like the national railway network. Additionally, it has collaborated with major property developers including Aldar, Modon, and Emaar.
This acquisition by ADQ underscores the continued investment activity in Abu Dhabi's construction and infrastructure sectors, further solidifying its position as a key player in the region's development landscape.
Source : www.gulfnews.com
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