According to a statement from the company to the stock exchange, it will retain a 51 percent stake in Alpha Dhabi Construction, which works in the field of building and construction. Among the most prominent projects it is working on are the Zayed National Museum and the Guggenheim Museum, in addition to supporting infrastructure projects such as the national railway network.
The statement stated, “Alpha Dhabi Construction“The company has successfully implemented huge residential projects for local real estate developers, such as Aldar, Modon Properties, and Emaar.
Engineer Hamad Al Ameri, CEO and Managing Director of Alpha Dhabi Holding, said: “Today we are pleased to announce the completion of our strategic partnership with ADQ, as this important step represents the beginning of a new era of strategic growth and innovation, and also allows us to strengthen our commitment to contribute to supporting the process of… development for the UAE, and enables us to implement large and complex projects efficiently while focusing on safety, quality and on-time delivery.”
He added that the deal establishes a culture of innovation within the building and construction sector, as it combines the expertise and capabilities of both parties to enhance Alpha Dhabi Construction’s position as a leading company in the sector.
The building and construction sector in the Emirate of Abu Dhabi is witnessing an increasing growth in investments with the aim of providing new residential projects and providing many job opportunities, as well as contributing to enhancing economic diversification efforts in the emirate.
