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Alpha Dhabi Buys $1.5 Billion Stake in UAE Property Firm Aldar

  • Company now one of Aldar’s biggest shareholders with 29.8%
  • Alpha Dhabi is looking for opportunities to deploy capital

Alpha Dhabi Holding PJSC built an additional stake in Abu Dhabi’s biggest property developer valued at about $1.5 billion as the United Arab Emirates-based holding company boosts its investment portfolio.

The firm, one of the UAE’s biggest listed companies by market value, acquired a 17% stake in Aldar Properties PJSC, according to a statement. That comes on top of a 12.8% shareholding Alpha Dhabi bought in the real-estate developer last year.