Today's Edition
ABU DHABI (ALETIHAD)
L’imad Holding Company, wholly owned by the Abu Dhabi Government, has completed the acquisition of shares previously held by both International Holding Company (IHC) and Abu Dhabi Development Holding Company (ADQ), resulting in L’imad Holding owning 84.76% of Modon Holding’s shares, Modon announced in a statement.
The statement said the transaction supports Modon’s innovative path in urban development and reinforces its confidence to deliver world-class destinations and experiences through its core business sectors, which include real estate, asset management, hospitality, and events, catering and tourism. Modon added that it remains committed to building modern urban communities that provide a sustainable, smart, and connected lifestyle.
In a separate statement, IHC announced the sale of its entire 42.54% stake in Modon Holding to L’imad Holding Company. The company said the transaction is a strategic move under its active portfolio management framework aimed at maintaining balanced exposure across sectors and geographies while unlocking additional liquidity. The statement did not disclose the value of the transaction.
“This sale reflects our disciplined approach to capital allocation and our commitment to maintaining a well-balanced, diversified portfolio,” said Syed Basar Shueb, CEO of IHC. “While we continue to see attractive fundamentals in real estate, our strategy is to avoid over-concentration in any single sector. Recycling capital from Modon provides additional liquidity to accelerate investment into other high-growth areas where we believe we can create sustainable, long-term value for our shareholders.”
IHC said the divestment aligns with its sector concentration framework, which limits exposure to any single sector to no more than 20%. By rebalancing its position in real estate and construction, the company will redeploy capital into scalable opportunities in healthcare, technology, energy, food and agriculture, and financial services, in line with its diversified growth strategy.
Since acquiring its 42.54% stake in August 2023, IHC said Modon has grown rapidly into a market-leading platform. In fiscal year 2024, the company achieved multi-billion-dirham revenue and profitability, maintaining strong momentum through the first half of 2025 with record property sales and a robust revenue backlog.
According to IHC, the divestment represents a timely exit designed to unlock liquidity and reinforce its long-term growth strategy. The company said it will continue to evaluate opportunities across sectors, building on its ability to originate and scale platforms that contribute to resilient cash flows, innovation, and sustainable value creation for stakeholders.
