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Sodic is majority-owned by a consortium that includes Abu Dhabi's Aldar Properties and ADQ

With this investment, Alpha Dhabi has become the parent company of Aldar Properties

ABU DHABI, 28th June, 2022 (WAM) -- Alpha Dhabi Holding has increased its stake in Aldar Properties, reaffirming its position as the largest shareholder and consequently becoming Aldar's parent company. Through this latest additional stake, Alpha Dhabi has raised its shareholding of Aldar to complement its existing majority representation on Aldar's Board of Directors. Accordingly, Aldar will be treated as a subsidiary in Alpha Dhabi's consolidated financial statements, the impact of which will be reflected in its financial results for Q2 2022 onwards. The additional...

Alpha Dhabi Holding, a leading investment firm in the UAE, has increased its stake in Aldar Properties, a major real estate developer, reaffirming its position as the single largest shareholder and consequently becoming Aldar’s parent company.

RIYADH: Alpha Dhabi Holding has raised its stake in Abu Dhabi-based mega-developer Aldar Properties, whereby it will become the parent company of the latter. With the latest stake purchase, the company complements its existing majority representation on Aldar’s board of directors, according to a statement. Alpha Dhabi, which is listed on the Abu Dhabi securities exchange,