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Zabeel Investments acquires 12pc equity stake in Emaar Industries and Investments
DUBAI — Zabeel Investments has taken a strategic 12 per cent equity stake in Emaar Industries and Investments (EII), the private joint stock company established to capitalise on the growth prospects of Middle Eastern, North African and South Asian manufacturing sector.
Having recently purchased Amlak Finance's 10 per cent stake in EII, plus an additional two per cent, this acquisition now makes Zabeel Investments the second largest shareholder after Emaar Properties, which retains a 40 per cent stake in Emaar Industries and Investments.
Zabeel Investments' Executive Chairman, Mohammed Ali Al Hashimi, said: "In line with the Dubai Strategic Plan unveiled by His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of UAE and Ruler of Dubai, Zabeel Investments' 12 per cent stake in EII is part of the drive to strengthen the economy and focus on non-oil based growth sectors, such as industrial and manufacturing industries. Manufacturing contributed Dh73.4 billion to the UAE economy last year, accounting for 19.5 per cent of the GDP, leading the non-oil sector."
This synergistic approach to joint business interests demonstrates the shared vision of the two institutions to provide a common platform for manufacturing investment in the UAE.
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