Al Qudra Real Estate launched at AGM
25th April 2006, Abu Dhabi, UAE: Following a record breaking seven months of operation, Al Qudra Holding P.J.S.C. (AQH) held their first Annual General Meeting (AGM) on Tuesday 25th April 2006.
The progressive Abu Dhabi based company has witnessed an unprecedented first seven months growth from its inception date on 28th May 2005 until 31st December 2005, achieving breathtaking financial heights with profits of AED211,174,162 million. Al Qudra Holding's assets for the same period were confirmed as AED 1,283,836,836 with a return on assets of 29%. The market value of one share reached over AED5 which has grown from the notebook value of one share that was set at AED1 in the original subscription.
By the end of the financial year 2005 Al Qudra Holding has realised several key achievements:
- A unique and powerful identity was created for the company
- Firm rules were laid for a giant and modern national investment company that is a leader in investment and innovative ideas
- A solid reputation was achieved on the specialist world investment map with the company established as a trustworthy source for investors, both inside the UAE and outside.
Al Qudra Holding announced ambitious plans last year to open 30 companies in 2006. So far 14 have been established in a variety of sectors which complement the Board's objectives of investing in dynamic industries such as real estate, industry, education, BOT projects, sports and health amongst others.
The success of Al Qudra Holding has positioned it as a leading Holding company and one of the largest in the UAE.
AGM Topics and decisions
The main topics and decisions taken at the AGM were:
- The amendment of a number of important articles from the company's Articles of Association. The decision was made for shares to be owned by foreigners as well as UAE Nationals.
- The conversion of the company into a public joint stock company. New rules govern a company's decision to go for an IPO: The nominal value of the issued shares is fully paid up; A period of not less than two financial years has passed since the company was formed; During the two years preceding the application for conversion, the company has achieved net profit distributable to the shareholders, of which average is not less than 10% of the capital; A resolution of the extraordinary assembly for the conversion of the company is adopted by a majority of three-quarters of the company shareholders. The Al Qudra Holding shareholders were in full agreement regarding this decision and it is anticipated that an IPO will be announced in 2007 once the company celebrates its second anniversary.
- The company's capital will be increased by 50 million AED through the distribution of bonus shares to shareholders for the year ending 2005.
- Al Qudra Holding launched Al Qudra Real Estate an exciting new company who will create pioneering projects offering communities that add true value to lifestyle and business, and represent sound investment opportunities promising tangible returns.
- The fiscal year was formally closed as per legal requirements during an AGM
2005 Business Activities
With a key objective to establish innovative and successful businesses and to maximise the return on investment for shareholders, AQH management quickly established a viable business plan and operations. 2005 was a busy year for this leading company and below is a brief summary of their activities:
- Established corporate office, recruited experienced management team and commenced operations
- Developed AQH business strategies, policies, procedures and internal controls
- Analysed business opportunities in the local market and invested capital in profitable equity investments
- Acquired investment land and set up real estate development plans
- Classified its business operations into 8 sectors:
Real Estate development and building materials - Utilities and infrastructure development
- BOT / Industrial and energy projects
- Trading and services
- Hospitality and sports
- Health care services
- Educational services
- Capital markets
- Negotiation of strategic partnerships with regional and international companies with an end result of benefiting the nation
- Established a number of subsidiaries to reach 30 by end of 2006
- Acquired an interest in a number of profitable companies at an optimal price
- Developed close business relationships with the most reputable banks in the region and leveraged the assets of the company to maximise shareholder value
- Enhanced the image of AQH as the premium investment company in the region
Al Qudra Real Estate
Al Qudra Real Estate (AQRE), a subsidiary of Al Qudra Holding PJSC, is set to ride the real estate wave in the Abu Dhabi Emirate, with pioneering projects offering communities that add true value to lifestyle and business, and represent sound investment opportunities promising tangible returns.
AQRE has assembled an experienced and well respected team of professionals who possess unrivalled expertise and provide the company with a powerful strength in a rapidly competitive market. Al Qudra Holding, as the parent company, has quickly established a reputation for success and integrity in a wide variety of sectors, as well as producing solid financial results in a short period of time.
Mission
To be the first choice property investment company in the UAE, facilitating ambitious real estate projects within the Emirate of Abu Dhabi, and providing landowners with significant returns on their investment.
Goals
Al Qudra Real Estate will:
- Be a key player in realising the government's vision for Abu Dhabi in the 21st century.
- Offer a strong value proposition to investors by providing investment opportunities in contemporary developments that satisfy the demands of Abu Dhabi's growing and diverse population.
Strategic Partnerships
AQRE believes in developing real communities for real people and offers shrewd investors the opportunity for strategic development investments.
The company provides investors with a lifetime chance to invest now in the future of Abu Dhabi itself and play a role in the development of the UAE economy.
AQRE sells to real estate developers and investors. The organization provides investors with land and a full master plan for a community to be developed. AQRE sells to the investor developer and provides them with the strategy and tools needed to sell, or lease, to the end user in order to provide a solid return on initial investment. Plots of land are sold with pre approved permission and the right to develop that land. In depth research into the Abu Dhabi market has been conducted ensuring all future developments address the growing needs and desires of the community. Communities will be created focusing on residential, retail and commercial sectors in prime real estate locations.
As a subsidiary of Al Qudra Holding, Al Qudra Real Estate provides numerous advantages for investors: sound investment opportunities promising real deliverables, in the shortest of timeframes, a truly strategic partnership, and the chance to be at the forefront of the property investment and ownership trend in Abu Dhabi. These advantages will be inherent in all AQRE projects, and a wide array of investment options, financial facilities and payment procedures are designed to suit every investor's needs.
Global Best Practice
When architects, planners and consultants are brought together by AQRE they are briefed to design an urban community which meets global best practices. Case studies of property developments from around the world are closely examined; modern, high tech city infrastructure is investigated from world class cities and the psychological needs of modern societies are addressed with every project. Eventually development projects initiated by AQRE will set the standard of all future real estate construction in Abu Dhabi.
Danet Abu Dhabi
Danet Abu Dhabi, Al Qudra Real Estate's landmark project, will provide a new urban community in Uptown Abu Dhabi.
Designed to be one of the region's best-planned communities, utilizing the best in global practices and leveraging sophisticated metropolitan design, Danet Abu Dhabi is a welcoming oasis enhanced with a futuristic skyline, with gardens, parks, green boulevards, sophisticated buildings, state-of-the-art communication services, cafes, and leisure facilities. This appealing project brings a new standard of community life for residents and visitors alike.
Covering more than 185,000 sqm, the city is set to become, within 3 years, a landmark of Abu Dhabi City. Danet Abu Dhabi will add to the emirate's rich diversity, and earn its position on the UAE map through contemporary architecture, ultra-modern technology, and outstanding activities and services.
Danet Abu Dhabi is a unique, incomparable opportunity, as it will be the first project available for investment, development, and subsequently rental, in Abu Dhabi. Whether flats or offices are sold, rented or leased, this exceptional community project will be prime real estate space offering high quality property developments that address the rising demands of Abu Dhabi's residents
Danet Abu Dhabi at a Glance
Designed for a value-driven community with high life aspirations in a clearly defined environment, Danet Abu Dhabi enhances nature's treasures with the technology of tomorrow to provide you with one of the most valuable investment opportunities available - a real estate project positioned as the Pearl of Abu Dhabi.
Within a 5 minute drive, residents will have access to many leisure and business facilities. Parking being one of the major ordeals that Abu Dhabi residents suffer daily, Danet Abu Dhabi architects have ensured that this problem is smartly addressed at the city. All buildings hold allocated parking spaces to satisfy residential and commercial requirements.
Danet Abu Dhabi will feature five districts inspired from the different Arabic names for pearls: Jumana, Dorra, Louolou, Giwan and Gemash Districts.
Pearls are timeless and classic - they've stood the test of time and they're loved by nearly all. Among all of the gemstones available in this world, the pearl is absolutely unique. This is due to the fact that it is the only gem which is formed entirely within a living being. The same is true of Danet Abu Dhabi - formed within the thriving area of Uptown Abu Dhabi.
A world class business Holiday Inn Hotel will be built at Danet Abu Dhabi. Holiday Inn has been chosen as it focuses specifically on business and will be a great asset to the city offering state of the art facilities for meetings and conferences of all sizes. The new Holiday Inn forms a landmark for Danet Abu Dhabi and will offer residents and visitors an array of restaurants and leisure facilities. The hotel and its surrounding complex have been designed to offer quality, comfort and convenience.
Facilities and Services
Danet Abu Dhabi is the place to live par excellence, as an array of facilities and services meet every conceivable resident's needs.
-Ends-
About Al Qudra Holding
Al Qudra Holding was established in May 2005 with a capital of AED 550 Million. Today, the company has become the 'mother company' of a large group of specialized subsidiaries that operate under its umbrella in important sectors of the country's education, tourism, industry, energy, infrastructure development, sports management and the entertainment industry to name a few.
The company is considered the ideal strategic partner for many leading regional companies looking into investments in the United Arab Emirates, and Abu Dhabi in particular. This was achieved through the trust, expertise and competencies that the company has acquired through the foundation of projects, investment strategies and companies that cover a wide range of sectors of development, thus attracting strategic and specialized partners in all fields.
For more information please contact:
Sama Alaghbar
Senior Account Executive
Viola Advertising and PR
Abu Dhabi
Tel: +971 2 6449444
Mobile: +971 50 6680418
Email: sama@viola.ae
© Press Release 2006
