Mubadala lifts Aldar holding above 28 per cent
Arabian Post Staff -Dubai Mubadala Investment Company has increased its stake in Aldar Properties to 28.03 per cent, deepening its exposure to one of Abu Dhabi’s largest listed property groups as the developer expands its residential, commercial and recurring-income businesses. The Abu Dhabi sovereign investor raised its holding from 27.01 per cent through Mamoura Diversified Global Holding, its…
Mubadala Investment Company has raised its stake in Aldar Properties to 28.03 per cent, deepening its involvement in Abu Dhabi's leading property developer. The increase was executed through its wholly owned subsidiary, Mamoura Diversified Global Holding, from May 8 to August 11, adding approximately 78.6 million shares. The purchases did not coincide with any corporate actions by Aldar.
Mubadala's stake had grown from 25.12 per cent in March to 27.01 per cent in May. This rise in Mubadala's holding is attributable to the company's consistent investment in Aldar's growth. Aldar has reported robust financial performance, with revenue increasing 5 per cent year on year to AED8.1 billion in the second quarter, and net profit after tax rising 17 per cent to AED2.6 billion.
The increase in Mubadala's shareholding also strengthens their partnership, as both groups have collaborated on various ventures, including the planned expansion of Al Maryah Island's financial district, valued over AED60 billion.
Written by urgent.news from Arabian Post's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
