Abu Dhabi, UAE : Abu Dhabi-based investment company, International Holding Company (IHC), has announced today the acquisition of a majority and controlling stake in Al Qudra Holding PJSC (AQH), Abu Dhabi-based Real Estate, Services, Hospitality, and Investments company.
The acquisition will enable IHC to broaden its portfolio in the Real Estate, Services, and Hospitality area. Al Qudra Holding has built out a large portfolio of customers since its founding in 2005, including Manarah Bay, a multi-usage project covering about 52,000 square meters, in Abu Dhabi and Barary Ain Al Fayda Development in Al Ain, a project comprises 2,500 residential units. The company currently has more than 12 subsidiaries spread across Real Estate, Services, Hospitality, Investments sectors and Oil and Gas sector.
Syed Basar Shueb, CEO and Managing Director of IHC, said: “Finding a business that has the potential to grow substantially can be challenging, this year, IHC has been further strengthening its successful investment approach, with some of the best-in-market companies. The acquisition comes in line with this year's disclosed IHC investment plan across several sectors, including the Real Estate area, which will create immediate growth and value to our shareholders. We are thrilled by the potential for being a majority shareholder of Al Qudra Holding and the team and the scale they bring to the table.”
Early this month, IHC approved the merger of Al Tamouh Investments and Al Qudra Holding, while Al Qudrah Holding issued a Mandatory Convertible Bond (“MCB”) to the shareholders of Al Tamouh Investments, and the Board of Directors of Al Qudra Holding has approved a new foreign ownership limit of 30% of outstanding shares, subject to regulatory approvals. Previously, only UAE nationals were permitted to own shares in the company.
His Excellency Sheikh Abdulla Bin Mohamed Bin Butti Al Hamed, Chairman of Al Qudra Holding said: “Al Qudra Holding is at a very exciting juncture in its history, with IHC being a majority shareholder, we are well-positioned to accelerate and further strengthen all Al Qoudra ongoing projects in all areas. To date, the company has put forward unique investment opportunities and facilitated the development of various projects that meet the local and regional market needs”.
Al Qudra Holding PJSC operates as an investment holding company. Through its subsidiaries, Al Qudra focuses its investments and strategic partnerships in nationally essential sectors, such as oil and gas, banking, and finance. As part of its diversification strategy, the company has investments in selected industries, such as real estate, services, and hospitality.
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International Holding Company (IHC)
IHC was founded in 1998, as part of an initiative to diversify and grow non-oil business sectors in the UAE. Adhering to ‘Abu Dhabi’s Vision 2030’, the ADX listed company endeavours to implement sustainability, innovation, and economic diversification initiatives across what is now one of the region’s largest conglomerates. IHC has a clear objective of enhancing its portfolio through acquisitions, strategic investments, and business combinations. Comprising more than 30 entities, IHC seeks to expand and diversify its holdings across a growing number of sectors, including Real Estate, Agriculture, Healthcare, Food and Beverage, Utilities, Industries, IT and Communications, Retail and Leisure, and Capital.
With a core strategy to enhance shareholder value and achieve growth, IHC drives operational synergies and maximizes cost efficiencies across all verticals – it also continues to evaluate investment opportunities through direct ownership and entering partnerships in the UAE and abroad. As the world changes, and new opportunities arise, IHC remains focused on resilience, innovation and redefining the marketplace for itself, its clients, and its partners.
Al Qudra Holding
Al Qudra Holding is a private joint stock company based in the Emirate of Abu Dhabi, United Arab Emirates, that aims to become a leading, globally recognized, and preferred investment business partner. Throughout the years, the company has grown significantly by focusing on sustainable development in the region and creating value by investing in fundamental growth sectors.
Today, Al Qudra Holding is determined to maximize wealth creation by investing into carefully selected industries with sustainable growing income: Real Estate, Services, Hospitality, as well as Diversified Investments. Furthermore, Al Qudra Holding has put forward unique investment opportunities and facilitated the development of various projects that meet the local and regional market needs. Al Qudra Holding stands for steadfast growth. It has tenaciously upheld the economic and social interest of its shareholders, customers, employees and the community as a whole and is rooted in its commitment to continue doing so.
Media Contacts
IHC
Ahmad Ibrahim
Corporate Communication & Media Manager
Ahmad.ibrahim@ihcuae.com
© Press Release 2021
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