Abu Dhabi Developmental Holding Company becomes ADQ and expands portfolio
Abu Dhabi Developmental Holding Company (ADDH) has unveiled a new brand identity to become ADQ. The announcement coincides with ADQ’s new phase of growth with the addition of fourteen companies to its portfolio. This brings the total number of companies within its portfolio to over 25 companies with a diversified exposure across eleven sectors.
Recent additions to ADQ’s portfolio include the General Holding Corporation PJSC (Senaat). Senaat’s subsidiaries span a range of sectors such as agri-food and industrial assets, and encompass companies including Agthia PJSC, Al Foah, National Petroleum Construction Company, Emirates Steel Industries PJSC, Dubai Cables Company and Arkan Building Materials PJSC.
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 Development Company. 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 PJSC and Emirates Driving Company PJSC.
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.