2024 was a historic year for Alpha Dhabi Holding, where we grew exponentially to be bigger and better than before. The year can also best be described as one of action, where we swiftly and decisively captured new opportunities and made strategic investments across diverse, high-growth, future-centric industries.
Our financial performance in 2024 has come to reflect this relentless pace of growth, and needless to say, we are eager to build upon this remarkable progress into 2025 and beyond.
As an ultra-diversified business, we operate in dynamic sectors such as energy, construction, healthcare, industry, hospitality, and real estate. These are industries that sit firmly within the UAE’s ambitions for the future – which means that Alpha Dhabi Holding is an important catalyst of the UAE’s ongoing transformative development.
As proof of this, in 2024, we pursued organic expansion across our portfolio, and we completed several strategic acquisitions. For instance, within our energy vertical, our joint venture with ADNOC Drilling Company PJSC (ADNOC Drilling), named ‘Enersol’, announced its first strategic investment with the contribution of Alpha Dhabi’s 25% holding in Gordon Technologies. Enersol also acquired a 51% equity stake in NTS AMEGA the precision manufacturing entity – adding further depth to the Enersol proposition for the UAE’s energy sector. Enersol completed 4 transactions which should be reflected to demonstrate the pace of growth in 2024 NMDC, an Alpha Dhabi Holding subsidiary company, operating across engineering, procurement, and construction also had a memorable year, having been awarded new projects with a total award value of AED 8.4bn. In September, NMDC Energy was listed on the Abu Dhabi Securities Exchange (ADX) following an Initial Public Offering (IPO) which was oversubscribed by 31.3 times. NMDC Energy’s IPO opened trading after drawing AED 88 billion in investment locally, regionally, and internationally – a significant feat. Alpha Dhabi has also been focusing on construction – and more recently we entered a partnership with ADQ through a divestment of a 49% stake in our Construction Group. The partnership has deepened our commitment to national development, as well as our ability to tackle complex large-scale projects and to spearhead landmark and coveted real estate developments across the nation.
Hamad Salem Mohammed Saeed Al Ameri
Chief Executive Officer & Managing Director
Of equal importance, healthcare remains top of mind, with PureHealth, the largest integrated healthcare network in the UAE delivering exceptional growth primarily driven by the growth in the hospitals segment. At the very same time, we’ve made swift forward strides in hospitality, announcing a strategic transaction that will unite St Regis Saadiyat, Cheval Blanc Maldives and the soon to open Cheval Blanc Seychelles with National Corporation for Tourism and Hotels (NCT&H).
Our luxury lifestyle subsidiary ADMO Lifestyle Holding announced the acquisition of Ce La Vi and a joint venture with Addmind Holding, called Alphamind, demonstrating Alpha Dhabi’s commitment to be a leading player in the luxury and lifestyle vertical.
All these activities in 2024, underscore our financial strength as well as our proprietary ability to source compelling M&A and investment opportunities. Our progress also speaks to the wider strength of the Abu Dhabi economy, which is a growing, prosperous, liberalised, and diversified economy, driven by a strategic vision. Abu Dhabi’s structural transformation and countercyclical monetary and fiscal policies ensure that it is primed to reap the benefit of sustainable growth and development. The Emirate will continue to be a destination of choice for investors, major corporates, entrepreneurs, innovators, and other professionals from different parts of the world.
Now, as we narrow our sights on 2025 and beyond, we’ll increasingly look to make further strategic decisions that we’re confident will add more depth and sophistication to our diverse portfolio, enabling us to grow to even greater heights.
Our aim is to continue focusing on strategic acquisitions, geographic diversification, and rigorous corporate governance practices to ensure that we continue to deliver strong and sustainable returns for our shareholders and deep meaningful impact for the communities where we operate.
Crucially, we have agility and resilience across our business to insulate against any headwinds that may emerge globally, be they in the form of inflation or geopolitical uncertainties. In the near-term Alpha Dhabi will continue to serve as a catalyst of the UAE’s transformative development.