A model of Aldar Properties' Fahid Island development in Abu Dhabi. The company continues to expand its portfolio as housing demand grows. Antonie Robertson / The National
A model of Aldar Properties' Fahid Island development in Abu Dhabi. The company continues to expand its portfolio as housing demand grows. Antonie Robertson / The National
A model of Aldar Properties' Fahid Island development in Abu Dhabi. The company continues to expand its portfolio as housing demand grows. Antonie Robertson / The National
A model of Aldar Properties' Fahid Island development in Abu Dhabi. The company continues to expand its portfolio as housing demand grows. Antonie Robertson / The National

Abu Dhabi's IHC has no plans to sell Aldar stake, CEO says


Alvin R Cabral
  • English
  • Arabic

International Holding Company, the largest listed company in the UAE, has no plans to sell its stake in Abu Dhabi real estate major Aldar Properties, contrary to media and market speculation, its chief executive has said.

IHC, the biggest shareholder in Aldar through its Alpha Dhabi Holding unit, remains a "strategic long-term investment within its diversified portfolio" as Abu Dhabi and the wider UAE enjoy a property boom, a company statement on Thursday said.

Alpha Dhabi, along with its subsidiaries, currently has a 31.63 per cent stake in Aldar. The second biggest shareholder in the company is Mamoura Diversified Global Holding, a unit of Abu Dhabi sovereign wealth fund Mubadala Investment Company.

Speculation intensified last week when IHC announced it was divesting its entire stake in Modon Holding as it seeks to avoid "over-concentration" of its portfolio in any one sector. Bloomberg, citing informed sources, later reported IHC was also planning to divest part of its stake in Aldar.

However, IHC on Thursday said it continues to remain confident in Abu Dhabi’s "growing and resilient real estate sector" and is committed to a "broader portfolio optimisation and divestment strategy".

The company remains "committed to supporting Aldar as it continues to shape Abu Dhabi’s real estate landscape and drive sustainable development across the UAE", IHC chief executive Syed Shueb said.

Separately, Alpha Dhabi said it maintained its "commitment" to Aldar, as the developer is a key part of its diversified portfolio. "Alpha Dhabi ... categorically denies recent market speculation regarding any intention to divest its stake in Aldar Properties," it said in a statement to The National.

IHC, a major part of Abu Dhabi's efforts to diversity its non-oil business sectors, has more than 1,300 subsidiaries, with investments in sectors including asset management, health care, real estate, financial services and IT.

Syed Shueb, chief executive of Abu Dhabi's International Holding Company. Antonie Robertson / The National
Syed Shueb, chief executive of Abu Dhabi's International Holding Company. Antonie Robertson / The National

Last month, IHC announced the merger of three of its portfolio companies, 2PointZero, Multiply Group and Ghitha Holding, to create a Dh120 billion ($33 billion) energy and consumer sector-focused investment platform.

IHC has been on an investment and acquisition spree as it aims to double its asset base to $218 billion by 2030. It has shown interest in expanding its portfolio assets in India and fast-growing economies in Central Asia, as well as in the US.

Aldar, meanwhile, continues to expand its portfolio amid the rising demand for housing in Abu Dhabi and the UAE, as real estate remains one of the key pillars of the national economy.

Abu Dhabi's biggest listed real estate company last week said it would be investing about $1 billion in new projects in Yas Island and Al Shamkha to boost its residential, commercial and logistical offerings.

The robust momentum in the UAE’s economy – the Arab world's second largest – driven by the government's diversification plan, has also supported market activity.

Government measures, such as residency permits for retired and remote workers, and expansion of the 10-year golden visa programme, have also boosted foreign investment flows into the Emirates' property market over the past few years.

IHC's shares closed down 0.37 per cent at Dh399.50, while Aldar settled 0.45 per cent higher at Dh9.01 on the Abu Dhabi Securities Exchange on Thursday.

The smuggler

Eldarir had arrived at JFK in January 2020 with three suitcases, containing goods he valued at $300, when he was directed to a search area.
Officers found 41 gold artefacts among the bags, including amulets from a funerary set which prepared the deceased for the afterlife.
Also found was a cartouche of a Ptolemaic king on a relief that was originally part of a royal building or temple. 
The largest single group of items found in Eldarir’s cases were 400 shabtis, or figurines.

Khouli conviction

Khouli smuggled items into the US by making false declarations to customs about the country of origin and value of the items.
According to Immigration and Customs Enforcement, he provided “false provenances which stated that [two] Egyptian antiquities were part of a collection assembled by Khouli's father in Israel in the 1960s” when in fact “Khouli acquired the Egyptian antiquities from other dealers”.
He was sentenced to one year of probation, six months of home confinement and 200 hours of community service in 2012 after admitting buying and smuggling Egyptian antiquities, including coffins, funerary boats and limestone figures.

For sale

A number of other items said to come from the collection of Ezeldeen Taha Eldarir are currently or recently for sale.
Their provenance is described in near identical terms as the British Museum shabti: bought from Salahaddin Sirmali, "authenticated and appraised" by Hossen Rashed, then imported to the US in 1948.

- An Egyptian Mummy mask dating from 700BC-30BC, is on offer for £11,807 ($15,275) online by a seller in Mexico

- A coffin lid dating back to 664BC-332BC was offered for sale by a Colorado-based art dealer, with a starting price of $65,000

- A shabti that was on sale through a Chicago-based coin dealer, dating from 1567BC-1085BC, is up for $1,950

The Africa Institute 101

Housed on the same site as the original Africa Hall, which first hosted an Arab-African Symposium in 1976, the newly renovated building will be home to a think tank and postgraduate studies hub (it will offer master’s and PhD programmes). The centre will focus on both the historical and contemporary links between Africa and the Gulf, and will serve as a meeting place for conferences, symposia, lectures, film screenings, plays, musical performances and more. In fact, today it is hosting a symposium – 5-plus-1: Rethinking Abstraction that will look at the six decades of Frank Bowling’s career, as well as those of his contemporaries that invested social, cultural and personal meaning into abstraction. 

The Bio

Amal likes watching Japanese animation movies and Manga - her favourite is The Ancient Magus Bride

She is the eldest of 11 children, and has four brothers and six sisters.

Her dream is to meet with all of her friends online from around the world who supported her work throughout the years

Her favourite meal is pizza and stuffed vine leaves

She ams to improve her English and learn Japanese, which many animated programmes originate in

The%20specs
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Terror attacks in Paris, November 13, 2015

- At 9.16pm, three suicide attackers killed one person outside the Atade de France during a foootball match between France and Germany- At 9.25pm, three attackers opened fire on restaurants and cafes over 20 minutes, killing 39 people- Shortly after 9.40pm, three other attackers launched a three-hour raid on the Bataclan, in which 1,500 people had gathered to watch a rock concert. In total, 90 people were killed- Salah Abdeslam, the only survivor of the terrorists, did not directly participate in the attacks, thought to be due to a technical glitch in his suicide vest- He fled to Belgium and was involved in attacks on Brussels in March 2016. He is serving a life sentence in France

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UAE%20PREMIERSHIP
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Family reunited

Nazanin Zaghari-Ratcliffe was born and raised in Tehran and studied English literature before working as a translator in the relief effort for the Japanese International Co-operation Agency in 2003.

She moved to the International Federation of Red Cross and Red Crescent Societies before moving to the World Health Organisation as a communications officer.

She came to the UK in 2007 after securing a scholarship at London Metropolitan University to study a master's in communication management and met her future husband through mutual friends a month later.

The couple were married in August 2009 in Winchester and their daughter was born in June 2014.

She was held in her native country a year later.

COMPANY%20PROFILE
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UAE currency: the story behind the money in your pockets
Company Profile

Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million

The specs

Engine: 1.5-litre turbo

Power: 181hp

Torque: 230Nm

Transmission: 6-speed automatic

Starting price: Dh79,000

On sale: Now

Day 3, Dubai Test: At a glance

Moment of the day Lahiru Gamage, the Sri Lanka pace bowler, has had to play a lot of cricket to earn a shot at the top level. The 29-year-old debutant first played a first-class game 11 years ago. His first Test wicket was one to savour, bowling Pakistan opener Shan Masood through the gate. It set the rot in motion for Pakistan’s batting.

Stat of the day – 73 Haris Sohail took 73 balls to hit a boundary. Which is a peculiar quirk, given the aggressive intent he showed from the off. Pakistan’s batsmen were implored to attack Rangana Herath after their implosion against his left-arm spin in Abu Dhabi. Haris did his best to oblige, smacking the second ball he faced for a huge straight six.

The verdict One year ago, when Pakistan played their first day-night Test at this ground, they held a 222-run lead over West Indies on first innings. The away side still pushed their hosts relatively close on the final night. With the opposite almost exactly the case this time around, Pakistan still have to hope they can salvage a win from somewhere.

Updated: November 10, 2025, 4:55 AM