The company explained that the deal comes after the Al-Alamiah Board of Directors disclosed on March 4 that talks had started regarding this acquisition.According to Al Khaleej newspaper.
Sayed Basar Shuaib, CEO and Managing Director of International Holding Company, said: “The acquisition of a large stake in Alpha Abu Dhabi Holding Company will add a large scope to the company, and this step will increase and diversify our investments.
AndAlpha Abu Dhabi Holding was established in 2008 with a focus on the real estate and construction sector. It has also recently embarked on building a portfolio that owns and manages a diverse group of companies in the construction, hospitality, industrial and capital sectors.
Alfa Abu Dhabi has more than 22,000 employees working on developing a wide range of projects, including mixed-use and high-rise projects, collective housing and infrastructure..
And the company announced April 4,On the withdrawal of its 100 percent investment in the “Trust International Group” companyFor a sale worth 350 million dirhams.