ADQ, the Abu Dhabi-based holding company, has launched a new office in Egypt as part of the company’s commitment to contributing to the country’s economic growth.
Establishing a new office builds on the $20 billion (AED 73 billion) strategic investment platform, launched by ADQ and the Sovereign Fund of Egypt (TSFE) in 2019, according to a press release on Wednesday.
The platform aims to boost Egypt’s economic development through joint strategic investment projects and specialised funds across several sectors, including healthcare and pharma, utilities, food and agriculture, and real estate.
The Head of Sovereign Partnerships at ADQ, Omar Mehanna, said: “Opening our new Egypt office is an important milestone in our long-term commitment, by investing through our strategic investment platform, to unlock growth opportunities across key sectors.”
Meanwhile, the CEO of the Sovereign Fund of Egypt, Ayman Soliman, commented: “Egypt has vast reserves of untapped potential across a diverse range of sectors and our partnership with ADQ illustrates our ability to attract foreign direct investment and stimulate Egypt’s economic development.”
