L'IMAD Holding Company acquires shares of majority stakeholders in Modon Holding
Abu Dhabi – Modon Holding PSC (“Modon”) announced that L’IMAD Holding, a company wholly owned by the Abu Dhabi government, has completed the acquisition of shares owned by both International Holding Company “IHC” and Abu Dhabi Development Holding Company “ADQ”, resulting in L’IMAD Holding Company owning 84.76% of Modon Holding shares.
This transaction reinforces the strategic investment outlook for the real estate and infrastructure development sectors in the Emirate, and secures the optimal deployment of resources, with a focus on urban development projects that contribute to the sustainable growth of Abu Dhabi’s economy.
His Excellency Jassem Mohamed Bu Ataba Al Zaabi, Chairman of Modon Holding, said: “The acquisition of the majority stakeholders is a critical milestone that solidifies the immense trust placed in Modon as a key enabler of urban and economic development in the emirate of Abu Dhabi and beyond. This approach encourages integrated management of government assets and supports our inherent ability to implement quality projects that meet our strategic partners’ expectations to deliver continuous sustainable growth to the highest international standards. We remain focused on creating long term value in managing and developing real estate and investment projects, whilst enhancing the confidence of local and international investors alike.”
Modon emphasized that this step supports its innovative path in urban development and its confidence to deliver world class destinations and experiences through its core business sectors that include Real Estate, Asset Management, Hospitality, and Events, Catering & Tourism. Modon Holding continues its commitment to building modern urban communities that provide a sustainable, smart, and connected lifestyle.
About Modon
Modon is an international holding company, headquartered in Abu Dhabi, United Arab Emirates, and listed on the Abu Dhabi Securities Exchange (ADX). We are at the forefront of urban innovation, creating iconic designs and experiences that continually surpass expectations. Our primary business sectors include real estate, hospitality, asset and investment management, and events, catering and tourism. Our goal is to deliver long-term, sustainable value, laying the foundations for intelligent, connected living.
