Al Qudra Holding Permits Foreign Ownership
Abu Dhabi, UAE; 06 January 2022: The Board of Directors of Al Qudra Holding PJSC (ALQUDRA) announced permitting non-UAE nationals to own a maximum of 30% of the Company’s capital. The decision was subsequently passed in the general assembly meeting, held on 12 December, wherein the acquisition of Al Tamouh Investment LLC for AED 2.244 billion was also approved; thus increasing Al Qudra’s capital to AED 5.508 billion. Accordingly, necessary formal and governmental approvals were obtained and trading on ALQUDRA share in ADX by foreigners has commenced.
Over the past few months, the Board of Directors has been focusing on enhancing the Company’s capabilities, expanding its operations and diversifying its portfolio through acquisitions and launching new projects in various sectors. Such efforts are in line with an ambitious strategic plan that aims to put Al Qudra Holding at the forefront of UAE’s investment sector. Thanks to prudent economic and financial legislations and policies set out by our great leadership, Abu Dhabi has become synonymous with economic stability, global competitiveness and world-class investment markets.
H.E. Sheikh Abdulla Bin Mohamed Bin Butti Al Hamed, Chairman of Al Qudra Holding PJSC, said that the company is committed to expanding its operations through launching and tendering for a number of new projects at a combined value in excess of AED 20 billion. His Excellency added that vertical expansion in the market is eminent, with the very promising future acquisitions. All such endeavors are aligned to the Company’s medium-to-long-term strategic plans aiming to cement Al Qudra Holding as a key player in the real estate development and investment sector within the UAE.
Al Qudra Holding PJSC is one of the largest group of companies in the UAE with 12 subsidiaries operating in a myriad of sectors to include master development, service, hospitality, investments.