The Abu Dhabi Developmental Holding Company PJSC (Arabic: شركة أبوظبي التنموية القابضة ش.م.ع), branded ADQ since 2020, is a significant sovereign wealth fund based in Abu Dhabi. It was established in 2018 as a comparatively low-profile state-owned entity, acronymized ADDH at the time. Since rebranding in 2020, it has emerged as a major global investor.[2] In 2023, it was among the world's top 10 sovereign funds by volume of investments.[3]
 | |
 ADQ is headquartered in the Capital Gate building | |
| Company type | Private Joint Stock Company (Government owned) |
|---|---|
| Industry | Diversified investments |
| Founded | 2018 |
| Headquarters | , |
Key people |
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| AUM | AED 732 billion (US$157 billion) (2022)[1] |
| Owner | Government of Abu Dhabi |
Number of employees | 77,000 |
| Subsidiaries |
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| Website | www |
Overview
editIn 2019, the Abu Dhabi government transferred to ADDH its shareholdings in twofour54, Abu Dhabi Power, Abu Dhabi Health Services Company (SEHA), Daman, AD Ports Group, Etihad Rail, Abu Dhabi Airports Company, Abu Dhabi National Exhibition Centre, ZonesCorp, Abu Dhabi Media Company, and Abu Dhabi Sewerage Service Company, followed in 2020 with Image Nation, National Marine Dredging Company, Emirates Water and Electricity Company, General Holding Corporation (Senaat), Abu Dhabi Securities Exchange and Emirates Nuclear Energy Corporation, and in late 2022 with Etihad Airways.[4]
Also in 2020, ADQ created Wizz Air Abu Dhabi, a majority-owned joint venture with Wizz Air. That same year, it acquired a 20 percent stake in retail group LuLu Group International and a 50 percent stake in Al Dahra Agricultural Company, a 22 percent stake in Aramex, and a significant stake in Louis Dreyfus Company.[4] As of late 2023, ADQ had $159 billion in total assets.[5]
As of 2021, the chairman of ADQ was Tahnoun bin Zayed Al Nahyan.[6]
In 2024, ADQ and the government of Egypt signed a deal for the ADQ to invest $35 billion in developing Ras el-Hekma on Egypt's Mediterranean coast.[7] The deal grants ADQ the right to develop 130 million square metres of land, and is the largest foreign investment deal in Egypt's history.[7]
See also
editNotes
edit- ^ "Abu Dhabi's ADQ manages $157 bln in assets, Global SWF estimates". Reuters.
- ^ "ADQ (UAE - Abu Dhabi)". GlobalSWF.com.
- ^ Anne-Sylvaine Chassany (5 January 2024). "Saudi Arabia's fund has a gargantuan appetite for deals". Financial Times.
- ^ a b "ADQ". adq.ae.
- ^ "Abu Dhabi Developmental Holding Company PJSC (ADQ)". SWF Institute.
- ^ "Power Players - Tahnoon bin Zayed". ICIJ. 2021-10-02. Retrieved 2023-07-28.
- ^ a b "UAE's $35bn investment to develop Ras al Hekma provides lifeline for Egypt's economy". 27 February 2024.
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