Limak, Alpha Dhabi sign MoU

Türkiye's Limak Group and Alpha Dhabi Holding, one of the fastest-growing investment holding companies in the United Arab Emirates (UAE), have signed a memorandum of understanding (MoU).

The MoU aims to explore a range of business opportunities and joint ventures in construction, development, infrastructure, energy and hospitality, all within a framework of sustainable development in the UAE and Türkiye, Alpha Dubai said in a statement.

"This MoU marks a significant milestone in the economic relations between the two countries and presents an opportunity for Alpha Dhabi to expand its investment portfolio in Türkiye through a potential new partner, Limak Group."

The opportunities include the construction and rehabilitation of areas impacted by the 7.8-magnitude earthquake that shook Türkiye in February this year, further strengthening the positive relations between the UAE and Türkiye, the statement added.

This MoU will not only strengthen our business ties but also contribute to the wider community rehabilitation in the earthquake-affected zones in Türkiye, commented Ebru Ozdemir, chairperson of Limak.

"Our potential partnership with Limak Group is a strategic move that aligns with our commitment to sustainable development and geographic expansion… We are particularly interested in exploring the opportunity to support the rehabilitation of areas in Türkiye impacted by the earthquake," said Hamad Salem Al Ameri, chief executive officer and managing director of Alpha Dhabi.

The agreement was signed at a business forum in Abu Dhabi, which was held during President Recep Tayyip Erdoğan's visit to the UAE.

During Erdoğan's visit, Türkiye and the UAE signed agreements worth nearly $51 billion.