Alpha Dhabi Nine-Month Net Profit Rises 23% to AED12.8 Billion

Revenue rose 6.1 percent to AED58.3 billion. By division, external revenue was AED22.2 billion from real estate, AED21.3 billion from industrial businesses, AED8.6 billion from construction and AED6.2 billion from services and other activities.

Total assets reached AED236.4 billion, up 10 percent from December 31, 2025. Cash and bank balances stood at AED36.5 billion and total equity at AED114.6 billion. Portfolio companies generated AED7.7 billion of revenue outside the UAE, or 13.2 percent of the total.

A Bigger Bet on AI

The group said it signed an agreement to commit $1 billion, about AED3.67 billion, to Alpha Wave III, a global fund managed by Alpha Wave Global. Alpha Dhabi previously invested in Alpha Wave Ventures II, and said the new commitment widens its exposure to artificial intelligence and other fast-growing technology businesses. The commitment remains subject to applicable approvals.

The company listed AI first among the sectors it plans to focus on going into the final quarter, alongside digital banking, hospitality, advanced infrastructure, energy and healthcare.

Managing Director and Group CEO Hamad Al Ameri said the group had advanced its priorities "through investments in artificial intelligence, global technology and private credit, while strengthening our international presence." Chairman Mohamed Thani Murshed Ghannam Al Rumaithi said the results reflected the resilience of the UAE economy and the group's diversified portfolio.

Private Credit and Property

In private credit, Alpha Dhabi doubled its commitment to the MICAD Credit joint venture managed by Mubadala Capital to $1 billion and raised its stake to 40 percent from 20 percent. The venture manages about $1.7 billion in assets across 45 portfolio companies, and its mandate now extends to further global private credit strategies beyond its existing US and European direct lending.

In real estate, portfolio company Aldar announced an AED1.1 billion forward purchase agreement with Arada, its first property investment in Sharjah. The deal covers three residential blocks with more than 1,100 units across nine buildings in the Aljada development, due for delivery in the fourth quarter of 2029, and lifts Aldar's develop-to-hold pipeline to AED21 billion.

The group also noted that healthcare company PureHealth retained a provisional AAA ESG rating from MSCI for a second year.

Why It Matters

Alpha Dhabi is one of Abu Dhabi's largest listed holding companies, and its results give a read on property, industrial and construction activity in the emirate. The $1 billion Alpha Wave commitment adds to the flow of Abu Dhabi capital into AI-focused funds, as the emirate's investors continue to build exposure to the technology through both direct deals and third-party managers.