Alpha Dhabi and Limak Group Sign MoU to Drive Sustainable Development in UAE and Turkey

• Alpha Dhabi's MoU with Limak Group presents an opportunity to broaden its investment portfolio in Turkey.
• The opportunities include construction and rehabilitation of areas impacted by the earthquake in Turkey.

Abu Dhabi, UAE; 20 July 2023: Alpha Dhabi Holding (ADX: ALPHADHABI), one of the fastest-growing investment holding companies in the United Arab Emirates (UAE), signed a Memorandum of Understanding (MoU) with Turkey-based Limak Group. The MoU aims to explore a range of business opportunities and joint ventures in construction, development, infrastructure, energy, and hospitality, all within a framework of sustainable development in the UAE and the Republic of Turkey.

This MoU marks a significant milestone in the economic relations between the two countries and presents an opportunity for Alpha Dhabi to expand its investment portfolio in Turkey through a potential new partner, Limak Group.The opportunities include the construction and rehabilitation of areas impacted by the 7.8-magnitude earthquake that shook Turkey in February this year, further strengthening the positive relations between the UAE and Turkey.

Commenting on the partnership, Eng. Hamad Salem Al Ameri, Chief Executive Officer and Managing Director of Alpha Dhabi, said: “Our potential partnership with Limak Group is a strategic move that aligns with our commitment to sustainable development and geographic expansion. It builds on our core verticals of infrastructure and construction, the energy sector, and hospitality. We are particularly interested in exploring the opportunity to support the rehabilitation of areas in Turkey impacted by the earthquake. We are excited about the potential this partnership holds for both our companies and the communities we serve.”

Ebru Ozdemir, Chairperson of Limak, said: “We are thrilled to sign this MoU with Alpha Dhabi, a company that shares our vision for sustainable development and investment. This MoU will not only strengthen our business ties but also contribute to the wider community rehabilitation in the earthquake-affected zones in Turkey. We look forward to exploring the opportunities within this potential partnership which will bring valuable contribution to both Turkey and the UAE.”

The United Nations estimates that 1.5 million people were displaced by the earthquake. This partnership between Alpha Dhabi and Limak Group seeks to support several infrastructure and construction projects, with a key focus on the rehabilitation of the impacted communities in the country.