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 Group Emirates PJSC , 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, marking the expansion of its operations to include interior design and include product manufacturing.

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

Commenting on this move, Matar Suhail Al Yabhouni Al Dhaheri, President of ASG Stallions UAE Group, said: “The two acquisitions are part of our efforts to continue to expand ASG Group’s revenue from new sources, in addition to the engineering and construction fields. To include 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 quantum leap in the world of design within the local market.”

The company, “Vision Furniture and Decoration Factory” was established in 2003, and has a factory in Abu Dhabi that covers an area of ​​​24,000 square meters, and employs more than 550 workers with experience in manufacturing a variety of furniture and decoration products, panels and doors, and the company has recently added upholstery to the package of services.

Decofgen was founded 19 years ago to meet the growing demand for specialized interior design solutions, and its business is focused on engineering and project implementation. The company’s team includes more than 60 leading engineers, and it owns a factory equipped with the latest technology in Musaffah, Abu Dhabi. Decofgen serves a number of luxury hotels, master developers and contractors, as well as prominent companies and government projects in Abu Dhabi. The list of projects the company has worked on includes the Presidential Palace, Emirates Palace, Etihad Towers and the 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 acquisition of the pioneering ‘Decovegen’ and ‘ Vision Factory’ transactions, which will contribute to providing high-quality comprehensive solutions in the market.” within the fields of design and furniture.

The two acquisitions will help provide a strong growth momentum for the Emirates Stallions 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 growth 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 Emirates Stallions Group

The Emirates Stallions Group, listed on the Abu Dhabi Stock Exchange, owns a portfolio of 15 subsidiaries operating in 7 different sectors and providing services and products in more than 20 countries in the Middle East, Africa, Asia, Europe and the Americas. 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 manner that enables them to provide holistic solutions, while at the same time working individually.

About the International Holding Company:

The International Holding Company was established in 1998 as part of an initiative to diversify and develop non-oil business sectors in the United Arab Emirates, and has since grown to become the most valuable listed holding company in the Middle East with a market capitalization of 619 billion dirhams from 30 June 2022. And in commitment to the “vision Abu Dhabi 2030”, the company listed on the Abu Dhabi Stock Exchange seeks to implement initiatives of sustainability, innovation and economic diversification through what is now one of the largest . conglomerates in the region. The International Holding Company joined the FTSE Abu Dhabi Market Index 15 “Vadax 15”, which includes the fifteen most liquid companies in the Abu Dhabi Securities Exchange.

The objectives of the International Holding Company are to enhance 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 leisure, and capital..

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

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

Ahmed Ibrahim

Head of the Department of Corporate Communication and Media Affairs

Ahmad.ibrahim@ihcuae.com

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