<a href="https://www.thenationalnews.com/business/markets/2022/06/28/alpha-dhabi-increases-aldar-stake-to-become-abu-dhabi-developers-parent/">Alpha Dhabi Holding</a>, a unit of Abu Dhabi's <a href="https://www.thenationalnews.com/business/economy/2023/06/19/abu-dhabis-ihc-signs-share-swap-agreement-with-colombian-businesses/">International Holding Company</a>, reported a 93 per cent surge in its third-half profit as revenue jumped amid a wave of new investments and acquisitions. Net profit attributable to owners of the company for the quarter ended in September climbed to Dh877.66 million ($238.95 million), the company said in a statement on Thursday to the <a href="https://adxservices.adx.ae/cdn/contentdownload.aspx?doc=2961292" target="_blank">Abu Dhabi Securities Exchange</a>, where its shares are traded. The company attributed the profit growth to a “combination of organic expansion and strategic acquisitions”. Revenue during the quarter jumped 8.1 per cent annually to Dh10.27 billion. Hamad Al Ameri, chief executive of Alpha Dhabi, credited the results to the company's “multifaceted strategy” and “diversified portfolio that spans vital sectors”. The company has continued to expand its portfolio and invest in strategic sectors including hospitality and energy, as well as launching a climate capital platform. Alpha Dhabi's net profit for the January-September period climbed 43.5 per cent on an annual basis to Dh9.75 billion. Revenue during the first nine months increased nearly 22 per cent on a yearly basis to Dh32.41 billion. Total assets reached Dh133.55 billion by the end of September, compared with Dh131.02 billion as of December 31 last year. Alpha Dhabi, which was <a href="https://www.thenationalnews.com/business/abu-dhabi-contractor-trojan-holding-rebrands-to-alpha-dhabi-holding-and-changes-business-model-1.1198440">previously known as Trojan Holding</a>, has grown into a regional conglomerate with interests in construction, health care, hospitality and industry after completing a series of acquisitions in 2021 and 2022. Last year, the company increased its stake in Aldar Properties to become the parent company of the property developer. The move reaffirmed Alpha Dhabi’s position as the largest shareholder in the biggest listed real estate company in the emirate. Earlier this year, the company announced a <a href="https://www.thenationalnews.com/business/2023/01/05/alpha-dhabi-and-mubadala-form-joint-venture-to-invest-up-to-25bn-in-global-credit-market/">venture</a> with <a href="https://www.thenationalnews.com/business/2022/10/24/mubadala-and-kkr-link-up-to-invest-in-asia-pacific-private-credit-market/">Mubadala Investment Company</a> to co-invest in global credit opportunities. In May, Alpha Dhabi<a href="https://www.thenationalnews.com/business/2023/05/11/alpha-dhabi-acquires-national-corporation-for-tourism-and-hotels-for-199m/"> also acquired a 36.4 per cent stake in the National Corporation for Tourism and Hotels </a>for Dh730 million to become the single largest shareholder in the hospitality owner, manager and operator. In July, it also signed a preliminary agreement with Turkish conglomerate Limak Group to explore business opportunities in various sectors amid the strengthening of ties between the UAE and Turkey. Alpha Dhabi said it is planning to “foster further growth and capture investment opportunities” throughout the rest of the year. “As we navigate the remainder of the year, our focus is on harnessing the significant momentum we have built and strategically driving further growth while seizing exciting investment opportunities,” Mr Al Ameri said. “Our strategy revolves around expanding our portfolio through acquisitions and geographic diversification, with the overarching goal of extending our global footprint within the investment landscape.”