Alpha Dhabi's growth strategy powers Dh7.3 billion net profit

Alpha Dhabi reported a strong set of first quarter financial results with net profit up 161 per cent year-on-year to Dh7.3 billion (Q1 2022: Dh2.8 billion), which includes a fair value gain as a result of the derecognition of Pure Health Holding LLC. Revenues also grew significantly to reach Dh12.8 billion, representing a 56 per cent year-on-year increase (Q1 2022: Dh8.2 billion), with contributions from the existing real estate and industrial portfolio continuing to be strong drivers of growth for the Group.

Alpha Dhabi continues to pursue acquisitions and investments as part of Its growth strategy and announced a partnership with Mubadala to co-invest in global credit opportunities. Alpha Dhabi and Mubadala aim to collectively deploy up to ~Dh9 billion (approximately $2.5 billion) over the next five years, leveraging Mubadala’s long-term and strategic partnership with Apollo, one of the world’s largest alternative asset managers, to access high-quality private credit investment opportunities. Mubadala will hold 80 per cent ownership in the Abu Dhabi Global Market-based joint venture entity, with the remaining 20 per cent to be held by Alpha Dhabi.

This transaction also represents Alpha Dhabi’s entry into the private credit market as it continues to execute on its diversification strategy and capitalise on investment opportunities in new markets.

Alpha Dhabi’s portfolio expansion outside of the UAE is supporting growth with overseas revenue accounting for Dh0.9 billion in the first three months of 2023, representing a 7 per cent increase year-on-year.