Press releases, Reports & Disclosures for Alpha Dhabi Holding PJSC

The text is a review report and interim condensed consolidated financial statement of ALPHA DHA BI HOLDING PJSC for the three-month period ending on 31 March 2024. The information is unaudited.

Alpha Dhabi Holding (ADH) will sell a 49% stake in its subsidiary, Alpha Dhabi Construction Holding (ADCH), to ADQ, an Abu Dhabi-based investment firm. ADH will retain a 51% shareholding in ADCH, with the partnership aiming to strengthen ADCH's position in the industry and support the development of Abu Dhabi. ADCH has a history of contributing to significant projects in the UAE, including the Zayed National Museum and the Guggenheim Museum. The transaction is subject to customary closing conditions, including regulatory approvals.

The Annual General Assembly of Alpha Dhabi Holding PJSC was held on March 20, 2024, at the IHC Headquarters in Abu Dhabi, with the option for remote attendance and electronic voting. The meeting saw a 75.32% attendance of shareholders, representing 7,532,191,029 shares. The agenda included discussing various topics and making related decisions. The Chairman of the Board, Mohamed Thani Murshid Ghannam Al Rumaithi, and Managing Director, Hamad Salem Mohamed Saeed Al Ameri, were present.

The National Corporation for Tourism & Hotels (NCTH) has expanded its hotel portfolio through the acquisition of Alpha Dhabi Holding's hotel businesses, including ADH Hospitality, Murban (BVI) Holding Inc., and Hill View Resorts. The transaction adds luxury resorts in Abu Dhabi, the Maldives, and the Seychelles to NCTH's portfolio, strengthening its position in the luxury hotels and hospitality markets. Alpha Dhabi, which holds a 36.4% share in NCTH, has also bolstered its position in the sector. The deal is subject to regulatory approvals.