ADQ, one of the region’s largest holding companies with a broad portfolio of major enterprises spanning key sectors of Abu Dhabi’s diversified economy, has established a new office in Egypt to build on its commitment to investing in the country’s economic growth.
The opening of ADQ’s new office complements the US$20 billion (AED 73 billion) strategic investment platform launched in 2019 between ADQ and The Sovereign Fund of Egypt (TSFE). The platform aims to help advance Egypt’s economic development through joint strategic investment projects, specialised funds and investment tools in key sectors such as healthcare and pharma, utilities, food and agriculture, real estate and financial services.
Omar Mehanna, Head of Sovereign Partnerships at ADQ, commented: “We continuously seek opportunities to create value and harness the growth potential of our partnerships with Sovereign investment entities. Opening our new Egypt office is an important milestone in our long-term commitment, by investing through our strategic investment platform, to unlock growth opportunities across key sectors. Our in-market presence will drive further cross-border collaboration while nurturing organisations that will accelerate the country’s economic development.”
Ayman Soliman, CEO of the Sovereign Fund of Egypt, said: “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. Egypt has vast reserves of untapped potential across a diverse range of sectors and our partnership with ADQ illustrates our ability to attract foreign direct investment and stimulate Egypt’s economic development.”