DUBAI: Emirates Stallions Group (ESG), a global investment, engineering, and construction solutions company and a subsidiary of International Holding Company (IHC), has announced the acquisition of a 60% stake in AFKAR Financial & Property Investments, an Abu Dhabi-based company with diversified interests across the UAE.
The deal marks ESG’s robust expansion in the real estate and retail sector, further solidifying its position as a leading global investment powerhouse in the region. AFKAR has been active in various sectors including commercial enterprise investment, institution and management, companies’ representation, real estate enterprise investment and development, and the retail trade of household and office furniture and interior decoration materials.
The company flagship brands, 2XL Home and OC Home, have strengthened their market presence with new showrooms and a strategic expansion plan, reflecting their commitment to quality and customer-centric approach.
The acquisition is a strategic move by ESG to invest in high-growth sectors, contributing significantly to the UAE’s economic diversification efforts. AFKAR’s extensive portfolio, including key showrooms in prime locations like Marina Mall Abu Dhabi, Al Ain Mall, Mega Mall and The Galleria – Al Maryah Island, complements ESG’s existing holdings and positions the group for further expansion.
This partnership is expected to create a formidable presence in the UAE’s real estate and retail landscape, offering innovative solutions and enhancing customer experiences. With ESG’s diversified portfolio in Investment, Construction, and Real Estate sectors, and a track record of delivering exceptional products and services across more than 20 countries, this collaboration is set to redefine market dynamics and establish new industry benchmarks.
Kayed Khorma, CEO of Emirates Stallions Group, said: “Through this strategic acquisition, we are fortifying and diversifying our Group’s portfolio, with the aim of expediting the development of our business plan for the upcoming year. Our focus is on delivering a higher Return on Investment (ROI) and continuing to add value to our investors.”
“ESG remains committed to investing in high-growth sectors and diversifying its business verticals throughout 2024. That’s our strategic vision.” Khorma added.
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