Abu Dhabi Development Holding Company's subsidiaries revealed.
The Executive Council of Abu Dhabi has issued a resolution defining the companies and development entities under the newly formed Abu Dhabi Developmental Holding Company (ADDHC), with the list including key construction organisations in Abu Dhabi, which was formed as a joint stock company following a law issued in March 2018 byPresident HH Sheikh Khalifa bin Zayed Al Nahyan.
In accordance with Law No. 2 of 2018 that established ADDHC, the ownership of the Abu Dhabi Government's shares in Abu Dhabi Ports Company, Abu Dhabi Airports Company, Modon Properties, Abu Dhabi Sewerage Services Co, and Abu Dhabi General Services Co (Musanada) has been transferred to ADHHC.
ADHHC also owns Abu Dhabi Government's former shares in Abu Dhabi Health Services Co, National Health Insurance Co, and Abu Dhabi National Exhibitions Co, plus Two Four 54 and its group of companies.
The Executive Council has also approved transferring the Higher Corporation for Specialised Economic Zones (Zones Corp) to become a wholly owned subsidiary of ADDHC.
The decision comes after Abu Dhabi Power Corporation was named as a wholly owned subsidiary of ADDHC in February 2019.
ADDHC's mandate is to monitor and guide these companies, driving them to achieve excellence in terms of performance, productivity, and quality in line with the Abu Dhabi Leadership's vision, according to the UAE's state news agency, Wam .
[c] 2019 ITP Business Publishing Ltd. All Rights Reserved. Provided by SyndiGate Media Inc. ( Syndigate.info ).
|Printer friendly Cite/link Email Feedback|
|Date:||Jul 3, 2019|
|Previous Article:||Parsons' Gary Adams eyes built environment growth in Saudi Arabia.|
|Next Article:||Sharjah approves $54m for housing support beneficiaries.|