ASG Stallions Emirates Group acquires strategic stakes in two companies with the aim of entering the fields of interior design and product manufacturing

Abu Dhabi, United Arab Emirates: ASG Stallions Emirates Group PJSC has announced that: The leading investment, engineering and construction services company in the United Arab Emirates and a subsidiary of the International Holding Company, has acquired strategic stakes in two Emirati companies, expanding its operations indicate to include interior design and product manufacturing.

In details, ASG Stallions acquired Emirates PJSC. It holds a 60% stake in the Vision Factory, the largest carpentry and furniture manufacturing company in the UAE. The Group also acquired a 45% stake in DecoVene, a leading provider of high-quality engineering and interior design services.

Commenting on the move, ASG Stallions UAE President Matar Suhail Al Yabhouni Al Dhaheri said: “The two acquisitions are part of our efforts to continue to expand ASG Group’s revenue from new sources in addition to engineering and construction. Including the design of interior spaces and the manufacture of products is an important step in the company’s growth strategy, and we will work to make a qualitative leap in the world of design within the local market.”

Established in 2003, Vision Furniture and Decoration Factory has a factory in Abu Dhabi that covers an area of ​​24,000 square meters and employs more than 550 experienced workers in manufacturing a variety of furniture, decoration, panels and door products. , the company added upholstery to its package of services.

While Dicovision was founded 19 years ago in response to the growing demand for specialized interior design solutions, its business focuses on engineering and project implementation. The company’s team includes more than 60 leading engineers, and it owns a factory equipped with the latest technologies in the Mussafah area of ​​Abu Dhabi. Decovision caters to a number of luxury hotels, master developers and contractors, as well as prominent government companies and projects in Abu Dhabi. The list of projects the company has worked on includes the Presidential Palace, Emirates Palace, Etihad Towers and Marriott The Edition Hotel.

Al Dhaheri added: “Local products are in high demand due to the challenges facing global supply chains, and we see broad prospects for the company’s strategic growth in the market through the acquisitions of the pioneer “Decovision” and ” Vision Factory”, which will contribute to the provision of high quality comprehensive solutions in the market locally in the field of design and furniture.

The two acquisitions will provide strong growth momentum for Stallions Emirates Group, which currently provides engineering, construction, development and property management services to 12 different markets. The company was founded in 2006 and was listed on the Nomu market within the Abu Dhabi Stock Exchange in late 2020, and the value of the company’s assets is more than 500 million dirhams.

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About the Emirates Stallions Group

Listed on the Abu Dhabi Stock Exchange, Emirates Stallions Group has a portfolio of 15 subsidiaries operating in 7 different sectors and its services and products in more than 20 countries in the Middle East, Africa, Asia, Europe and the Americas provided. The group operates in the fields of investment, construction and property, and manages a diversified portfolio that provides comprehensive solutions for its divisions, namely: development, consultancy, design, project management, construction, landscape and outdoor spaces, hospitality management and all related services . Thanks to this unique range of services, the group supports its companies to work in an integrated way that enables them to provide comprehensive solutions, while at the same time being able to work individually.

About the International Holding Company:

The global holding company was established in 1998 as part of an initiative to diversify and grow the non-oil business sectors in the UAE, and has since grown to become the most valuable listed holding company in the Middle East with a market capitalization of AED 619 billion on 30 June 2022. In commitment to the “Vision of Abu Dhabi 2030”, the company listed on the Abu Dhabi Securities Exchange seeks to implement sustainability, innovation and economic diversification initiatives through what is now one of the largest conglomerates in the environment. The International Holding Company joined the FTSE Abu Dhabi Market 15 index “Fadax 15”, which includes the fifteen most liquid companies on the Abu Dhabi Stock Exchange.

IHC’s objectives are to strengthen its portfolio through acquisitions, strategic investments and business combinations. With over 372 subsidiaries and 52,345 employees, the company seeks to expand and diversify its assets across a growing number of sectors, including real estate, agriculture, healthcare, food and beverage, services, industrials, information and communication technology, retail and entertainment, and capital..

With a core strategy to increase shareholder value and achieve growth, IHC drives operational integration and drives cost efficiencies across all its business segments. It also continues to evaluate investment opportunities through direct ownership and entering into partnerships in the UAE and abroad. In light of the changes that the world is witnessing and with the emergence of new opportunities, IHC focuses on flexibility, innovation and setting new standards in the market for itself, its customers and its partners.

For media inquiries related to the International Holding Company, please contact:

Ahmed Ibrahim

Head of Corporate Communications and Media Affairs Department

Ahmad.ibrahim@ihcuae.com

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