'ADCB to sell majority stake in real estate subsidiary and could fetch Dh400 million'

'that the sale is in line with ADCB's strategy to drive growth and diversity through strategic partnerships with prestigious UAE companies.

The parent company of Nine Yards Plus Holding, EIH, is a fast-growing investment holding company headquartered in Abu Dhabi with operations spanning nine sectors: real estate, energy, technology, alternative investments, hospitality, healthcare, tourism, financial services, automotive and retail.

After the sale, ADCB and Nine Yards Plus Holding confirmed that ADCP will retain its legal corporate status and brand, ensuring the continuity of its processes, operations and services to best serve its customers.

Potential acquisition of Nine Yards Plus Holding''Expected to accelerate ADCP's growth, the companies added.

The disclosure document said, "ADCP will continue to capitalize on ADCB's strong brand, financial expertise and partnerships in the property management sector while benefiting from Nine Yards Plus Holding's real estate expertise and growth trajectory.

''