Sheikh Tahnoon emphasised ADQ’s pivotal role in driving Abu Dhabi’s growth, advancing development and fostering economic expansion, while capitalising on regional and global investment opportunities to support the region’s prosperity.
During the meeting, the Board reviewed and approved ADQ’s year-to-date financial performance, reaffirming its growth trajectory from previous years. The Board also received an overview of key business milestones, underscoring ADQ’s role as an active investor in critical infrastructure and global supply chains, in line with its vision.
Attending the meeting chaired by Sheikh Tahnoon was ADQ’s new board: H.H. Sheikh Zayed bin Hamdan bin Zayed Al Nahyan, Jassem Mohamed Bu Ataba Alzaabi Mohamed Hassan Alsuwaidi, Mohamed Mubarak Fadel Al Mazrouei, Ali Mohammed Hammad Al Shamsi, Dr. Ahmed Mubarak Al Mazrouei, Sheikh Abdullah bin Mohamed Al Hamed and Kaj-Erik Relander.
The Board was provided with a comprehensive summary of key transactions and acquisitions in 2024, emphasising their strategic importance and alignment with the organisation’s mandate.
This included ADQ’s US$35 billion investment to transform Ras El-Hekma into a premier coastal destination in Egypt. The master plan for the mega-city includes world-class infrastructure designed to drive Egypt's economic and tourism growth while strengthening investment ties between the UAE and the North African country.
Additionally, ADQ acquired a 49% stake in Plenary Group, an Australia-based leader in public-private infrastructure projects, to support joint opportunities in key geographies. The establishment of Arcera, a global life sciences company, consolidated ADQ’s pharmaceutical assets and reinforced its commitment to strengthening supply chains rooted in Abu Dhabi.
The Board was also updated on notable achievements across ADQ’s portfolio of companies. In transport and logistics, Zayed International Airport, celebrating its first anniversary in December, was recognised as the fastest-growing airport in the Middle East by international seat capacity, welcoming 21.7 million passengers as of 30th September 2024, a 31.2% increase from the same period in 2023.
AD Ports Group's recent inauguration of CMA Terminals, a state-of-the-art facility with advanced port infrastructure, increased Khalifa Port’s annual container capacity by 23%, reaching nearly 10 million Twenty-Foot Equivalent Units (TEUs), supporting the Emirate's trade connectivity.
In energy and utilities, Unit 4 at the Barakah Nuclear Energy Plant began commercial operations, generating 40 terawatt hours of carbon-free electricity annually and supplying 25% of the UAE’s electricity, marking the region's largest decarbonization effort.
TAQA completed the acquisition of SWS Holding, which will support the diversified utilities and energy group to optimise its water production, usage and reuse while aligning with its net-zero strategy.
Additionally, the group also announced plans to expand in Saudi Arabia with two new power plants, adding 3.6 gigawatts of low-carbon capacity, bringing its total greenfield projects in the Kingdom to five.
In food and agriculture, Unifrutti further expanded its global multifruit platform into blueberries and avocados through the acquisition of Bomarea and AvoAmerica Peru, securing a steady supply of premium produce to its customers worldwide. These additions underscore its commitment to meeting consumer demands for healthy and nutritious products.
During the meeting, the Board also discussed ADQ’s five-year business plan and growth targets that the organisation aims to achieve. ADQ also presented its AI strategy, which underpins this business plan and aims to accelerate the transformation of its portfolio companies by adopting AI technologies and solutions across operations, products and services.
To conclude, the Board was updated on the non-financial value and impact generated by ADQ through its role in accelerating the growth of its portfolio companies which provide world-class essential services, including energy, food, healthcare, and transport infrastructure. His Highness emphasised the importance of ADQ to Abu Dhabi as a catalyst for economic growth.
Mohamed Hassan Alsuwaidi, Managing Director and Group Chief Executive Officer of ADQ, said, “Under the guidance of His Highness Sheikh Tahnoon bin Zayed Al Nahyan, ADQ remains committed to driving strategic growth and enabling the future prosperity of Abu Dhabi while positively impacting people’s lives. The achievements showcased today underscore our dedication to advancing the Emirate's economic priorities, fostering resilience, and creating enduring value. Moving forward, we will continue to pursue investments that expand our domestic and international presence to excel in a dynamic global environment.”
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