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Tue 17 May 2016 02:00 PM

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Emaar unit acquires stake in UAE-based contracting firm

Emaar Industries & Investments says significant stake bought in Leaders Fort Contracting

Emaar unit acquires stake in UAE-based contracting firm
GCC construction, GCC real estate, Middle East construction, Middle East real estate

A subsidiary of Emaar Properties has acquired a significant stake in UAE-based construction and contracting firm Leaders Fort Contracting (LFC).

Emaar Industries & Investments (EII) said the deal builds on its roster of business entities that it supports, all of which offer services in fast-growing manufacturing and industrial sectors.

A privately owned company, LFC is a specialist in concrete repair technologies, industrial and trafficable flooring, waterproofing, protective coatings, and MEP works, a statement said.

EII said it will contribute to developing LFC’s business activities and strengthen market share including exploring opportunities for potential partnership on mega-developments in the UAE and expansion to other GCC markets.

EII will also support LFC in expanding its footprint into the oil and gas, and military sectors in addition to supporting LFC in building its service portfolio.

Nasser Batha, CEO of Emaar Industries & Investments, said: “The acquisition of a significant stake in Leaders Fort Contracting is a strategic fit to our focus on investing in leading UAE-based companies that have high growth potential.”

Mohammed Bazzari, CEO of Leaders Fort Contracting, added: “We are now set to enter a new era of growth, supported by the expert counsel and investment support offered by EII, across all aspects of our operations. The investment will also enable us to create new jobs in our sector.”

Established in 2006, Leaders Fort Contracting has undertaken works for Burj Khalifa, The Dubai Mall, Dubai International Airport, Abu Dhabi International Airport, The Presidential Palace, Mafraq Hospital, Al Ain Stadium, Yass Mall and Julphar pharmaceutical facilities.

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