image: AD Ports Group
AD Ports Group said on Thursday it has agreed to sell its 9.77 per cent stake in NMDC Group to Alpha Dhabi Holding for Dhs1.6bn ($436m).
The port operator received the stake ahead of NMDC’s listing in February 2022 from Abu Dhabi Developmental Holding Company – ADQ.
In less than four years, the investment delivered a total shareholder return of 17 per cent, based on dividends received and capital gains, using book value as of Q3 2025 as a reference.
The divestment forms part of AD Ports Group’s plan to monetise non-core assets when market conditions are favourable.
It is the company’s third non-core sale this year, following the sale of land at Khalifa Economic Zones – Abu Dhabi (KEZAD) to Mira Developments and the sale of two logistics warehouses in KEZAD to Aldar Properties.
AD Ports Group to use proceeds from sale to fuel projects
Proceeds from the transaction will be used to reduce debt and redeploy capital into higher-returning projects, the company said. AD Ports Group reported net debt of Dhs17bn as of September 30.
“This agreement with Alpha Dhabi is a result of the group’s durable commitment to intelligently managing its assets and value creation strategies, with the proceeds strengthening the group’s financial position and capital structure,” MD and group CEO Captain Mohamed Juma Al Shamisi said.
He added: “Under the wise guidance of our leadership in the UAE, AD Ports Group is focused on efficiently managing its asset portfolio and deploying its financial strengths to increase shareholder value, enhance the services delivered to our customers, and fulfil our primary mission of enabling trade. In the future, we will continue to actively manage our asset base to unlock and maximise value.”
Hamad Salem Al Ameri, MD and group CEO of Alpha Dhabi Holding, said the acquisition “underscores our commitment to investing in high-impact industrial verticals that support Abu Dhabi’s diversity and inclusion agenda”, adding that the strategy focuses on scalable opportunities aligned with national priorities while balancing industrial growth with environmental responsibility.
With the purchase, Alpha Dhabi’s holding in NMDC Group will rise to about 77 per cent.
In October, AD Ports Group sold land in KEZAD’s Al Mamourah district to Mira Developments in a Dhs2.47bn deal.
On November 11, it completed the sale of two built-to-suit logistics warehouses in KEZAD to Aldar Properties for Dhs570m.
