Alpha Dhabi Holding has successfully finalized the sale of 49 percent of its subsidiary, Alpha Dhabi Construction Holding (ADCH), to ADQ, the Abu Dhabi-based investment and holding company.
ADH will maintain a 51 percent ownership stake in ADCH, reaffirming its dedication to the construction sector through a strategic alliance with ADQ, WAM reported.
Contributions to national development
Under the guidance of its subsidiary Trojan Construction, ADCH is well-regarded for its contribution to national development. The company boasts a robust portfolio that includes landmark UAE projects such as the Zayed National Museum and the Guggenheim Museum, alongside vital infrastructure initiatives like the national railway network.
Residential community projects
Additionally, ADCH is adept at delivering large-scale residential community projects for prominent local real estate developers, including Aldar, Modon Properties, and Emaar.
Strengthening industry leadership
This new partnership merges the strengths and expertise of ADCH and ADQ, further establishing ADCH as an industry frontrunner and a key driver of growth in the Emirate.
Significant milestone
Hamad Al Ameri, CEO & managing director of ADH, expressed excitement about finalizing the partnership with ADQ, noting that it marks a significant milestone in the strategic growth and evolution of ADCH. Additionally, he emphasized that the collaboration reflects a shared vision for excellence, enhancing their commitment to national development and expanding their capacity to manage complex, large-scale projects with a strong focus on safety, quality, and timely execution.
A new era of innovation
This agreement further heralds a new chapter of innovation in the construction sector, leveraging the strengths of both organizations to bolster Alpha Dhabi Construction Holding’s leadership.
Impact on Abu Dhabi’s economy
Moreover, the deal comes at a time of substantial investments in construction across Abu Dhabi, aimed at providing new housing opportunities, generating employment, and contributing to the diversification of the Emirate’s economy.
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