Abu Dhabi’s Alpha Dhabi to invest $2.2bn on expansion
Alpha Dhabi Holding, a subsidiary of Abu Dhabi's International Holding Company, will invest Dh8 billion ($2.2bn) across various sectors as part of its expansion strategy to boost growth.
The company will invest the earmarked funds in real estate, hospitality, healthcare, petrochemicals and “other promising sectors” in the UAE and outside the country, it said in a statement to the Abu Dhabi Securities Exchange, where its shares are traded.
“During our board meeting, we approved the expansion of our investment portfolio, a reflection of the company’s shareholder confidence, our leadership’s vision and remarkable growth recorded to date,” said Hamad Al Ameri, managing director and chief executive of Alpha Dhabi Holding. “We believe that a carefully administered investment ... will help fulfill our responsibility to shareholders, adding value by expanding our diverse portfolio.”
Alpha Dhabi, which has a market value of Dh257.4bn and was previously known as Trojan Holding, has grown into a regional conglomerate with interests in construction, health care, hospitality and industry after completing a series of acquisitions this year.
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