Apollo Global Management plans to invest $ 1.4 billion in construction company Aldar Properties, including a land consortium and an investment in the company’s real estate unit.
The commitment will come from Apollo-managed funds and clients, which include a $ 500 million investment in a joint venture and a $ 100 million investment in Aldar real estate investment, the two companies said.
US-based Apollo will also invest $ 800 million in the Aldar Investment Properties unit through subordinated bonds and mandatory convertible preference shares.
The land acquired in the consortium by Aldar landbank could then be developed or sold.
Apollo will hold a minority stake in the real estate investment unit through its equity investment.
Source: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
