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Alpha Dhabi Holding raises stake in Aldar Properties to 30%

ABU DHABI, 3rd January, 2022 (WAM) — Alpha Dhabi Holding (ADH) has announced the acquisition of an additional 17 percent shareholding of Aldar Properties. The acquisition will increase Alpha Dhabi Holding’s shares in Aldar Properties to 29.8 percent, making it one of the largest shareholders, said an ADH statement on Monday.

Commenting on the announcement, Hamad Salem Mohamed Al Ameri, Managing Director and CEO of Alpha Dhabi Holding, said, "The real estate sector has been witnessing an outstanding recovery during 2021, and demand for residential, commercial, hospitality and logistics units continue to grow as a result of the resilience and agility of the country’s post-pandemic strategy."

Early this year, Alpha Dhabi Holding acquired a 12.8 percent strategic stake in Aldar Properties. The transaction, which involved the transfer of around one billion shares in a block trade valued at AED3.7 billion, was one of the largest private share purchases in a UAE listed company. In this latest investment, Alpha Dhabi Holding has completed the acquisition of Sublime 2, Sogno 2 and Sogno 3 which together own 17 percent of Aldar Properties.

"Aldar’s rapid growth, strategic expansion plan and projects in pipeline represent the right investment for ADH and our shareholders. Aldar's many projects vary between local, regional and international markets and align with our vision for ADH to explore new markets," Al Ameri added.

The acquisition comes in line with Alpha Dhabi Holding's recently announced expansion plan and future strategy, targeting AED8 billion for investments in real estate, hospitality, healthcare, petrochemicals, and other promising sectors inside and outside the UAE.

Recently, Aldar announced that through a consortium with ADQ, it will own 85.52 percent of Egyptian developer SODIC’s outstanding share capital. The consortium’s objective is to advance SODIC’s position as a leading national developer by scale and reputation, growing its portfolio of mixed-use residential communities in Greater Cairo, the North Coast and other major markets.

Alpha Dhabi Holding and Aldar Development vision aligns together as a major contributor to the UAE, Aldar is a master developer of integrated, liveable, and thriving communities across Abu Dhabi’s most desirable destinations. It is responsible for developing Aldar’s diverse strategic land bank and includes three businesses: Aldar Projects, which manages Aldar's fee-based development management business, including AED45 billion of government housing and infrastructure projects; Aldar Ventures, which incubates and nurtures new business opportunities and innovation areas; and Aldar Egypt, the platform focused on developing mixed-use communities in Egypt.

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Emirates

Dubai Police warns Against Using Police Emergency Strobe Lights

The Dubai Traffic Police has recently warned motorists against using police and emergency vehicle warning lights, after two vehicles were spotted on the road taking advantage of the exclusive entitlement of the police to be given way in case of emergency.

Colonel Juma bin Suwaidan, Acting Director of the General Traffic Department, urged road users to adhere to traffic laws to avoid facing legal liabilities and prevent endangering their lives and others.

Col bin Suwaidan stated further that the police patrols had impounded two vehicles on two separate occasions for illegally fitting their vehicles with using emergency warning lights similar to the police, giving other motorists a false impression of authority to give way.

“We have spotted one at the Emirates Road and the other at Sheikh Mohammed Bin Zayed Road. Reports were filed against the two, and their vehicles were confiscated and fined,” he added.

 

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Emirates

Her Highness Sheikha Dr. Shamma bint Mohammed bin Khalid Al Nahyan announces the launch of the “Emirati Miniatures initiative” from the Courtauld Gallery in London.

“Art is the mirror of history and a true reflection of the extent of the civilised development of society.”

I feel a special state of spiritual and intellectual transcendence. ” Her Highness Sheikha Dr. Shamma expressed her conviction in the value of the arts and their being a title for advanced people and civilizations. This statement came during Her Highness’ visit to the Gallery in the British capital, London, at the beginning of her meetings and her visit as part of Her Highness’s cultural and knowledge programme for knowledge and human communication.

The Courtauld Gallery is interested in the history of the arts through different ages and human civilizations, and many of the senior art historians in the British scientific community belong to it. The Museum: Edouard Manet, Vanessa Bell, and Lucas Cranach (Painting of Adam and Eve), as well as the French artist Pierre Auguste Renoir, the Dutch artist Van Gogh, and many other artists.

Her Highness and the accompanying delegation were welcomed by Professor Deborah Salo, Director of the College; Dr. Karen Sears; Mrs. Francesca Hoyt and Mrs. Camilla Knight, where Her Highness and the accompanying delegation accompanied Professor Debrois on a tour between the various pavilions of the museum and the exhibition.

Her Highness held a meeting with the director of the gallery and the work team, where she thanked and appreciated them for their good reception. During the meeting, ways of cooperation between Sheikh Mohammed bin Khalid Al Nahyan’s cultural and educational institutions and between the Courtauld institutes were discussed, and experiences were exchanged in the field of presenting. There were lectures and technical workshops between the Emirati technical cadres and the technical cadres of the college, and Her Highness announced during the meeting the launching of the (Emirati Miniatures) initiative, which will be launched next October. It is an initiative dedicated to Emirati artists, using palm fronds as a basis for drawing accurate artistic miniatures that express the Emirati and human heritage. Her Highness invited them to attend the exhibition of the artworks participating in the initiative. Professor Deborah was very impressed with the idea of the initiative, especially the use of date palms, as they represent a heritage value in desert communities.

At the end of the meeting, Her Highness gifted the college a set of publications that talk about art in the United Arab Emirates, as part of the (Knowledge for Humanity) initiative launched by Her Highness last year, which aims to make the world know the Emirati civilization and its ancient folk heritage by donating museums and universities. To be among its holdings, with knowledge sources of books and technological means that define the UAE between the past, present, and future.

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Emirates

Breaking / Federal Supreme Council elects Mohamed bin Zayed as UAE President

ABU DHABI, 14th May, 2022 (WAM) — The Federal Supreme Council today unanimously elected His Highness Sheikh Mohamed bin Zayed Al Nahyan as President of the United Arab Emirates.

The Council held a meeting today at Al Mushrif Palace in Abu Dhabi, chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai.

The meeting was attended by His Highness Sheikh Mohamed bin Zayed Al Nahyan; H.H. Dr. Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah; H.H. Sheikh Humaid bin Rashid Al Nuaimi, Supreme Council Member and Ruler of Ajman; H.H. Sheikh Hamad bin Mohammed Al Sharqi, Supreme Council Member and Ruler of Fujairah; H.H. Sheikh Saud bin Rashid Al Mu’alla, Supreme Council Member and Ruler of Umm Al Qaiwain; and H.H. Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah.

A statement issued by the Ministry of Presidential Affairs said that according to Article 51 of the Constitution, His Highness Sheikh Mohamed bin Zayed Al Nahyan was unanimously elected as the President of the UAE to succeed the late Sheikh Khalifa bin Zayed Al Nahyan.

Their Highnesses, the Supreme Council Members and Rulers of the Emirates have reaffirmed their keenness to continue implementing the authentic values and principles laid down by the late deceased, Sheikh Khalifa, following on from the founding father, the late Sheikh Zayed bin Sultan Al Nahyan. These have consolidated the UAE’s status at both regional and global levels.

The Federal Supreme Council expressed its full confidence that the people of the UAE will remain, as Sheikh Zayed and the founders believed, “a faithful guardian of the Union and its gains at all levels”.

Their Highnesses wished H.H. Sheikh Mohamed bin Zayed Al Nahyan success in serving his people and country.

Sheikh Mohamed bin Zayed expressed his appreciation for the precious trust placed in him by his brothers, Their Highnesses the Supreme Council Members and Rulers of the Emirates, praying to the Almighty to guide and help him to bear the responsibility of this great trust and to fulfil its tasks of serving his country and people.

 

WAM/Rola Alghoul/Esraa Ismail

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