(MENAFN- Khaleej Times)

International Holding Company confirmed on Thursday, November 6, that it has no intention of selling its stake in Aldar Properties PJSC. The company currently retains a majority stake in Aldar Properties through its subsidiaries.

The company confirmed that 'Aldar' represents a long-term strategic investment within its diversified portfolio, reflecting its continued commitment and firm confidence in the growing and sustainable real estate sector in Abu Dhabi.

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The statement said, "While International Holding Company continues to adhere to its overall strategy aimed at improving the portfolio and implementing well-considered exits, it has confirmed that it does not intend to sell its stake in Aldar Properties."

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Aldar Properties is one of the leading real estate development companies in Abu Dhabi. Aldar continues to deliver exceptional value to shareholders, as well as actively contributing to the UAE's economic diversification agenda.

Syed Basar Shuaib, CEO of International Holding Company, said:“We reaffirm the company's strategy of its unwavering commitment to supporting Aldar, and we are confident that the company is capable of continuing its prominent role in shaping the real estate landscape in Abu Dhabi, and contributing effectively to driving sustainable development in the UAE.”

According to the statement: "This confirmation embodies the long-term investment philosophy of“Global Holdings”, and its strategic focus on sectors that effectively contribute to national economic growth and diversification."

The company also continues to follow a disciplined approach to capital allocation, focusing on value creation and achieving sustainable growth within its global investment portfolio.

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