Abu Dhabi’s Alpha Dhabi Holding H1 net profit jumps 30%

CEO says strong cash position allows the company to explore growth opportunities

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Alpha Dhabi Holding, a unit of Abu Dhabi's International Holding Company, has posted a net profit of 10.3 billion dirhams ($2.8 billion), up 30% year-on-year (YoY). The investment holding company is looking at further growth opportunities across geographies.

Revenue for the period was 29% higher at AED 22.1 billion, the ADX-listed company said in a statement on Tuesday.

The group has AED 127.9 billion in total assets and a cash position of AED 17.6 billion.

Hamad Al Ameri, CEO of Alpha Dhabi Holding, said: "Our strong cash position of AED 17.6 billion allows us to confidently invest in growth opportunities across a variety of sectors and geographies and make astute investment decisions that add value to our portfolio and benefit our shareholders in the short and long term."

Alpha Dhabi was set up in 2013 and forays into sectors including construction, health care, hospitality. In 2022, Alpha Dhabi raised shareholding in Aldar Properties and investment in European luxury hospitality group Nammos.

In May 2023, it acquired a 36.4% stake in the National Corporation for Tourism and Hotels for $199 million.

(Writing by Brinda Darasha; editing by Seban Scaria)

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