Image: IHC/ X
International Holding Company (IHC) said on Thursday it has sold its entire 42.54 per cent stake in Modon Holding to L’imad Holding Company, a wholly owned entity of the Abu Dhabi government, as part of efforts to rebalance its portfolio and reinforce diversification.
The transaction forms part of IHC’s active portfolio management strategy, which limits exposure to any single sector to below 20 per cent.
The company said the sale will unlock additional liquidity to reinvest in priority sectors such as healthcare, technology, energy, food and agriculture, and financial services.
Modon brought in robust revenues in 2024, IHC said
Since acquiring its stake in Modon in August 2023, IHC said the real estate and infrastructure developer has achieved multi-billion-dirham revenue and profitability in 2024, with momentum continuing into H1 2025.
The company cited strong real estate sales and a robust revenue backlog as indicators of Modon’s performance.
“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.”
IHC, one of the Middle East’s most valuable holding companies with a market capitalisation of Dhs881.6bn ($239.9bn), said it would continue to assess new investment opportunities that support sustainable long-term growth and resilient cash flows.
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