“Alpha Abu Dhabi”, which is listed on the Abu Dhabi Financial Market, attributed the reason for this jump in profits to the conversion of Pure Health from a subsidiary to investments in a partnership, in addition to the significant growth in revenues to reach 12.8 billion dirhams (about 3.5 billion dollars), which is what Represents an increase of 56 percent year-on-year, compared to AED 8.2 billion achieved in the first quarter of 2022, with the continued growth of the company’s real estate and industrial business, which are strong and stable drivers for the group’s growth.
The company said in a statement, seen by “Sky News Arabia Economy”, that “Alpha Abu Dhabi continues acquisitions and investments as part of its growth strategy, and has announced a partnership with Mubadala to jointly invest in global credit opportunities, and the two companies aim to invest up to 9 billion dirhams (about $2.5 billion) over the next five years, by leveraging Mubadala’s long-term and strategic partnership with Apollo (listed on the New York Stock Exchange), one of the largest alternative asset managers in the world, with the aim of accessing outstanding credit investment opportunities in the future.
Mubadala owns 80 percent of the joint venture, while Alpha Abu Dhabi owns the remaining 20 percent.
Alpha Abu Dhabi, one of the fastest growing investment holding companies in the UAE, explained that this deal is the gateway for Alpha Abu Dhabi to the private credit market as it continues to implement its diversification strategy and take advantage of investment opportunities in new markets.
She added that this expansion of Alfa Abu Dhabi’s business outside the UAE confirms the growth of the group, as foreign revenues reached 0.9 billion dirhams in the first three months of the year 2023, which represents an increase of 7 percent on an annual basis.
Alpha Abu Dhabi’s balance sheet remained strong with total assets reaching AED 120.6 billion, representing an increase of 129 percent year-on-year, on the back of strong investment activity.
The group continues to enjoy good financing with a strong cash position of 16.6 billion dirhams to support and drive growth and expansion in all sectors and geographical regions, according to the company’s statement.
Commenting on the results, the CEO of Alpha Abu Dhabi Holding Company, Hamad Al Ameri, said: “Alfa Abu Dhabi has once again achieved excellent financial results as it continues to consolidate its position as an investment holding company… and our diversified business continues to grow in light of the positive conditions and fundamentals in the UAE markets.” , supported by strong economic fundamentals and a booming state of capital markets, contrary to global expectations.
He continued, “We have started this year strongly, with our diversified portfolio continuing the same momentum that we witnessed last year. Looking ahead, we will continue to develop our core sectors through new investments and acquisitions. We continue to actively invest capital in market leadership opportunities for our companies.” “.
It is noteworthy that Alpha Abu Dhabi Holding was established in 2013, and it is a group listed in the UAE. It is one of the fastest growing investment holding companies in Abu Dhabi, and more than 100 companies in the fields of health care, agriculture and petrochemicals, in addition to real estate, construction, hospitality and other sectors fall under its umbrella. The company employs more than 85 thousand employees.
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