Abu Dhabi – Modon Holding PSC (“Modon”) announced that L’imad Holding, a company wholly owned by the Abu Dhabi government, has completed the acquisition of shares owned by both International Holding Company “IHC” and Abu Dhabi Development Holding Company “ADQ”, resulting in, L’imad Holding Company owning 84.76% of Modon Holding shares.

This transaction reinforces the strategic investment outlook for the real estate and infrastructure development sectors in the Emirate, and secures the optimal deployment of resources, with a focus on urban development projects that contribute to the sustainable growth of Abu Dhabi’s economy.

The transaction supports Modon on its innovative path in urban development and its confidence to deliver world class destinations and experiences through its core business sectors that include Real estate, Asset Management, Hospitality, and Events, Catering & Tourism.  Modon Holding continues its commitment to building modern urban communities that provide a sustainable, smart, and connected lifestyle.

About Modon

Modon is an international holding company, headquartered in Abu Dhabi, United Arab Emirates, and listed on the Abu Dhabi Securities Exchange (ADX). We are at the forefront of urban innovation, creating iconic designs and experiences that continually surpass expectations. Our primary business sectors include real estate, hospitality, asset and investment management, and events, catering and tourism. Our goal is to deliver long-term, sustainable value, laying the foundations for intelligent, connected living.