Abu Dhabi's Q Holding is set to undergo a rebranding as Modon Holding, following a monumental $12 billion merger with two other key players in the Emirate's economic landscape. The news comes after the successful consolidation of assets from Abu Dhabi wealth fund ADQ and IHC Capital Holding.
The merger, finalized in February 2024, saw ADQ contribute its 100% stake in the Abu Dhabi National Exhibitions Company (ADNEC) and its majority ownership of Modon Properties to Q Holding. Additionally, IHC Capital Holding transferred its entire interest in Modon to the newly formed entity.
This strategic integration aims to establish Modon Holding as a regional powerhouse in the real estate, hospitality, events, and catering sectors. The combined group boasts an impressive portfolio encompassing diverse real estate developments, prestigious venues, vast land plots, and a collection of hospitality assets.
The newly formed entity's market capitalization is estimated at approximately $12 billion, solidifying its position as a significant player in the region's economic landscape. The merger is expected to not only bolster Modon Holding's financial standing but also unlock new avenues for growth and expansion.
Analysts anticipate that the combined expertise and resources of the merged entities will enable Modon Holding to capitalize on emerging market opportunities and contribute significantly to Abu Dhabi's continued development as a leading regional hub for business, tourism, and investment.
The rebranding to Modon Holding, subject to shareholder approval, signifies a new chapter for the organization. The chosen name, "Modon," carries the Arabic translation for "cities," reflecting the company's commitment to shaping and developing the urban landscape of Abu Dhabi and beyond.
The successful completion of this historic merger marks a significant milestone in Abu Dhabi's economic diversification efforts. With the creation of Modon Holding, the Emirate positions itself to capitalize on the potential of its key sectors and further solidify its position as a global economic leader.