Nine Yards Plus Holding to acquire an 80% stake in Abu Dhabi Commercial Properties from ADCB for AED473m.

Nine Yards Plus Holding, the holding company that manages all the Real Estate sector subsidiaries of EIH, agreed to acquire an 80% stake in Abu Dhabi Commercial Properties, a property management company in Abu Dhabi, from ADCB, a full-service commercial bank, for AED473m. "ADCB is proud to have built ADCP into a major property management services provider. This transaction unlocks substantial value for ADCB shareholders, while ensuring that ADCP is well positioned to achieve further growth through our strategic partnership with Nine Yards Plus. I would like to take this opportunity to express appreciation to ADCP’s clients, employees and business partners for supporting the continued success of the company," Ala’a Eraiqat, ADCB CEO.