Al Qudra Holding announce record profits of AED216 million in less than a year

The company's profits have exceeded all expectations of its shareholders. Last year, at the Establishment General Meeting, Al Qudra Holding set a target to reach profits of AED22 million by the end of the first year in a pledge they made to the 644 shareholders, of which 340 are women.

Within seven months of the company's operations, and its board's takeover of investment operations in a variety of dynamic sectors locally and regionally, the Al Qudra Holding record was achieved. The company surprised its shareholders as its assets increased to AED 1.28 Billion, with a return on assets of 29%, and the shareholders' equity reached AED 857 million, bringing the revenue on shareholders' equity to 43%. The company's scope of activities widened considerably through the foundation of numerous companies and the formation of strategic partnerships in diversified sectors locally and regionally.

Representing the Board, Engineer Salah Salem Bin Omair Al Shamsi, Chairman of Al Qudra Holding, expressed great pride and satisfaction on the breathtaking results that the company and thanked the wise guidance and leadership of His Highness Sheikh Khalifa Bin Zayed Al Nahyan, the President of the UAE. Al Shamsi extended deep gratitude to His Highness Lieutenant General Sheikh Mohammed Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, His Highness Sheikh Hazzaa Bin Zayed Al Nahyan and His Highness Sheikh Tahnoon Bin Zayed Al Nahyan for their continuous support of Al Qudra Holding. He also thanked local companies, who have paved the way for Al Qudra Holding to set the trend in the investment sector of the UAE. Al Shamsi also expressed his gratitude to Her Highness Sheikha Fatima Bint Mubarak (Mother of the Nation) for opening a window of opportunity for women to participate as shareholders in Al Qudra Holding.

"From the very beginning we have strived to create a unique identity by launching innovative investment opportunities, taking into consideration the economic directives that opened the door for local companies and their strategic partners to participate in large projects that will benefit the national economy," said Al Shamsi.

"Our national leadership has provided comprehensive support and patronage for national companies and individual initiatives and has removed obstacles paving the way for a complete range of diversified investment opportunities for privatization policies in the country. This is an indication of the vision of our political leadership to position Abu Dhabi as the preferred investment destination for local and international companies."

"The success that has been achieved to date is just the start of our ambitious plans. We promise our shareholders and strategic partners that we will carry on with our success aided by unlimited ideas, strategies and action plans that cover all sectors of the UAE and the Abu Dhabi Emirate," added Al Shamsi. "The ideal investment atmosphere that we witness in the UAE catalyzes these ambitious plans and immensely contributes to Al Qudra Holding's launch of 15 companies out of the 30 which the company has pledged to set up by the end of 2006."

Al Shamsi indicated that the company's Board has already presented its recommendations to the ordinary and extraordinary General Assembly meeting, which will be held in the first week of April, for the distribution of dividend shares to shareholders, thus increasing the Al Qudra Holding capital.

Al Shamsi states that the political stability and the healthy investment ambiance of the country provides huge investment opportunities in the UAE, enhanced by the current government's support of privatization projects and projects related to infrastructure development. This results in new private sector initiatives and attracts foreign investors into strategic partnerships in the country, which actively contributes to the advantageous positioning of the UAE national economy. "Al Qudra Holding is an important partner in designing the future of private sector investments in the Abu Dhabi Emirate", adds Al Shamsi.