Abu Dhabi sovereign wealth fund ADQ has acquired a 49% stake in Alpha Dhabi Construction Holding (ADCH).
Parent company Alpha Dhabi Holding (ADH) will retain its majority stake.
According to a joint statement, the new partnership will combine the mutual expertise and capabilities of the two firms.
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As a result of the transaction, ADH CEO and managing director Hamad Al Ameri will become chairman of ADCH.
“This collaboration allows us to deepen our commitment to national development, enabling us to tackle complex, large-scale projects with a keen focus on safety, quality, and timely delivery,” said Al Ameri.
“Together, we are poised to set new benchmarks in the dynamic construction industry, driving progress and prosperity in our region.”