KHALEEJ TIMES, Wednesday, Mar 25, 2020 | Shabaan 1, 1441
ADDH announces new brand, extends portfolio
Abu Dhabi Developmental Holding Company (ADDH), one of the region's largest
holding companies, unveiled a new brand identity, to become ADQ.
The announcement coincides with ADQ's new phase of growth with the addition of
14 companies to its portfolio. This brings the total number of companies within
its portfolio to over 25 companies with a diversified exposure across 11
Recent additions to ADQ's portfolio include the General Holding Corporation,
Senaat. Senaat's subsidiaries span a range of sectors such as agri-food and
industrial assets, and encompass companies including Agthia, Al Foah, National
Petroleum Construction Company, Emirates Steel Industries, Dubai Cables Company
and Arkan Building Materials.
Reinforcing its commitment to develop the Emirate's growing tourism sector,
shares of multiple renowned hotels and tourism facilities in Abu Dhabi have also
been transferred to ADQ. This includes Qasr Al Sarab Desert Resort, Anantara Al
Yamm Villa Resort, Anantara Al Sahel Villa Resort, Desert Islands Resort & Spa,
Emirates Pearl for Development and Investment, B2B Hotels and Properties, Park
Hospitality Investment, Tourism Investment Assets, and Qaryat Al Beri Resort
This follows recent high-profile announcements as ADQ finalised its agreement to
establish Wizz Air Abu Dhabi in partnership with Europe's largest low-cost
airline, Wizz Air. Additional companies added to ADQ's portfolio include Abu
Dhabi Securities Exchange (ADX), Image Nation, and shares in the National Marine
Dredging Company and Emirates Driving Company.
The expanded portfolio will deepen ADQ's focus on the development of industrial,
agri-food, media, financial services, and tourism and hospitality sectors in the
Emirate. It also complements the initial focus on utilities, transportation,
logistics, aviation, real estate, and healthcare.
Mohamed Hassan Alsuwaidi, chief executive officer, ADQ, said: "ADQ brings
together some of Abu Dhabi's most dynamic and ambitious enterprises, so that we
may act as a national champion on behalf of the government to maximise the
performance and value creation by each of our portfolio companies, as well as
their long-term impact on our society."
Alsuwaidi, added, "In practice, we aim to enable them through collaboration to
achieve excellence in terms of higher productivity, efficiency and quality that
will help promote their operations and their business success in increasingly
competitive markets at home and abroad. Each portfolio company has built its own
powerful place in society and regional markets. We do not seek to change that,
but to enhance it."
"Apart from supporting the government's economic diversification strategy in
collaboration with the Ghadan 21 programme, we aim to act as enablers of even
greater innovation and advancement and to support our portfolio through the
application of best practice and optimal capital allocation and management,"
Meanwhile, Abu Dhabi Executive Council issued a resolution shifting Abu Dhabi
government equity in some companies to ADQ. The companies that will be shifted
to ADQ are Tourism Investment Assets, Qaryat Al Beri Resort Development Company,
B2B Hotels and Properties and Park Hospitality, Emirates Pearl for Development
and Investment, National Marine Dredging Company, The General Holding
Corporation, Senaat), Image Nation (free zone).
The resolution gave directions to Abu Dhabi Securities Exchange to take all
necessary procedures to shift the government shares in the National Marine
Dredging Company, Emirates Driving Company to be under the ownership of ADQ.
Based on the resolution, ownership shares of Desert Islands Resort & Spa,
Anantara, Al Yamm Villa Resort, Al Sahel Villa Resort, Seer Baniyas Island, Qasr
Al Sarab Desert Resort will be under the ownership of the Tourism Investment