In an alpha move, Alpha Dhabi (ALPHADHA) has acquired Aldar (ALDAR), bringing its overall stake in Abu Dhabi’s biggest developer to 29.8%. Alpha Dhabi is a subsidiary of International Holding Company (IHC) and seeks to invest AED 8b to diversify its investment portfolio. In parallel, Aldar Properties is a real estate company with its headquarters in Abu Dhabi — it's a master developer in areas including Yas Island and Reem Island. Together, Alpha Dhabi and Aldar are ready to build an empire.
Elsewhere in the GCC, Saudi Arabia’s Riyad REIT Fund (SASE) also signed a $62m deal to purchase a US logistics portfolio comprising five properties.
Why it matters
There is no better time for real estate developers to combine their powers. This comes as no surprise since the demand for buildings continues to grow as a result of the UAE’s excellent post-pandemic strategy.
