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UAE's ADQ to boost investment in Egypt as part of TSFE deal

ADQ, Abu Dhabi's state-owned holding company, has established a new office in Egypt to strengthen its commitment to investing in the country's economic growth. ADQ is one of the region's largest holding companies, with a diverse portfolio of major enterprises spanning key sectors of Abu Dhabi's diversified economy.

The establishment of ADQ's new office complements the $20 billion (DH73 billion) strategic investment platform established in 2019 by ADQ and The Sovereign Fund of Egypt (TSFE). Through joint strategic investment projects, specialised funds, and investment tools in key sectors such as healthcare and pharmaceuticals, utilities, food and agriculture, real estate, and financial services, the platform aims to help Egypt's economic development.

"We constantly seek opportunities to create value and harness the growth potential of our partnerships with Sovereign investment entities," said Omar Mehanna, Head of Sovereign Partnerships at ADQ. The opening of our new Egypt office marks an important milestone in our long-term commitment to unlocking growth opportunities across key sectors by investing through our strategic investment platform. Our market presence will encourage more cross-border collaboration while also nurturing organisations that will help the country's economic development."

"ADQ's decision to establish an office in Egypt signifies the strength and depth of our bilateral cooperation, which enhances our ability to develop and evaluate our joint-investment pipeline," said Ayman Soliman, CEO of the Sovereign Fund of Egypt. Egypt has vast reserves of untapped potential in a variety of sectors, and our collaboration with ADQ demonstrates our ability to attract foreign direct investment and stimulate Egypt's economic development."

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Posted on :12/17/2021