Alpha Dhabi Holding eyes Egyptian and Saudi markets
One of the UAE’s largest companies is looking at Egypt: Alpha Dhabi Holding is eyeing the “promising” Egyptian and Saudi markets, CEO Hamad Al Ameri told Bloomberg. Egypt is a large market with capacity for more acquisitions, while Saudi is distinguished by its strong growth, he said.
About Alpha Dhabi: The firm is a subsidiary of one of the UAE’s most valuable companies, International Holding Company and works in sectors including construction, hospitality and healthcare. It is also one of the largest shareholders in Aldar — the new co-owners of Egyptian real estate giant SODIC alongside Abu Dhabi sovereign wealth fund ADQ. Alpha Dhabi went public on the ADX over the summer.
More expansions ahead: “We’re tapping and looking at other markets as well … One of the most important things that we’re benefiting from as a group is each company in the existing ecosystem speaks to the other to see [where it could grow]”, Al Ameri added.
Emirati companies have been driving much of Egypt’s inbound M&A: Most recently, First Abu Dhabi Bank (FAB) offered to buy a majority stake in leading financial services corporation EFG Hermes. The transaction is now pending due diligence.