On June 9, ADQ expressed its intentions to merge the Abu Dhabi National Exhibition Center (ADNEC), which it owns, with the Abu Dhabi National Hotels (ADNH). Less than three months later, for unknown reasons, ADQ has called off the deal (the perfect ingredients for a Netflix mystery show). After the news broke, ADNH dropped 9.88% on the Dubai Financial Market.
The merger would have allowed ADNEC to become a protagonist in Abu Dhabi's tourism sector. In June, ADNEC launched Tourism 365, a new company that would have helped achieve this goal. The merger with ADNH would have been the cherry on top of the cake to crown ADNEC's expansion into the tourism market.