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Emaar Industries and Investments Strengthens Its Presence in the Region, As the Manufacturing Sector Comes of Age in the Middle East

Posted on: Tuesday, 7 March 2006, 12:01 CST

Emaar Industries and Investments (EII), a private joint stock company with a seed capital of DHS 250 Million launched by Emaar Properties PJSC, today announced that it has invested in several projects during 2005, reflecting the strong potential of the manufacturing sector and the favorable environment for investments in the UAE and the region."We believe our immense business knowledge, market reputation and strength of the Emaar brand name will provide an excellent value proposition to these projects," said Dr Ahmad Khayyat, Chief Executive Officer, Emaar Industries and Investments. "Emaar Industries and Investments has invested in and acquired several companies valued at AED 700M. EII has invested in Depa Group PJSC whose core business is interior contracting, trading and manufacturing, Starwood LLC, manufacturers of wood and aluminum doors as well as kitchen and wall cabinets and Multiform LLC, whose products include UPVC used in construction, aluminum fabrication, windows and curtain walls, are now subsidiaries of Emaar Industries and Investments. Since being acquired by Emaar Industries and Investments, their business has expanded rapidly across the region with their revenues reflecting an increase of 300%," said Mohammed Ali Al Hashimi, Vice Chairman of Emaar Industries and Investments.

Emaar Industries and Investments is currently in talks with several top tier GCC industrialists as well as one of the main Chinese conglomerates involved in the engineering industry with a view to setting up a facility in the GCC region.In addition, several deals are in the pipeline in various sectors, which will provide synergy with Emaar Properties' projects both locally and internationally.

These investments will help support the UAE's construction boom, whilst creating further employment opportunities.Deeply rooted in Emaar Properties' old traditions of excellence in service and delivery, Emaar Industries and Investments strongly believe that diversification is the most important component for a company to reach their long term financial goals.

Strategic diversification also allows a company to support other sectors of the economy.Emaar Properties is the majority shareholder of Emaar Industries and Investments holding 40%, Amlak Finance PJSC with 10% and the remaining shares held by prominent UAE national investors.Emaar Industries and Investments aims to achieve the best possible returns on its investments, support companies to allow them to attain the level of international best practice and develop companies' value creation, which in turn will enhance shareholder value.

2006 Al Bawaba (www.albawaba.com)

Source: Al Bawaba

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