Abu Dhabi - Mubasher: Alpha Dhabi Holding has acquired an additional 17% stake in Aldar Properties to raise its stake in the UAE-based real estate group to 29.8%.

This transaction will enable Alpha Dhabi to become one of the largest shareholders in Aldar Properties, according to a press release on Monday.

The step is in line with Alpha Dhabi's expansion plan to invest AED 8 billion across sectors inside and outside the UAE, including real estate, hospitality, healthcare, and petrochemicals.

The Managing Director and CEO of Alpha Dhabi Holding, Hamad Salem Mohamed Al Ameri, said: "The real estate sector has been witnessing an outstanding recovery during 2021, 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."

Al Ameri added: "Aldar's many projects vary between local, regional, and international markets and align with our vision for ADH to explore new markets."

It is noteworthy to mention that in late March 2021, Sublime Commercial Investment, Alpha Dhabi Holding's subsidiary, acquired a 12.21% stake in Aldar Properties from Mubadala Investment Company (Mubadala).