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Abu Dhabi’s Ethmar International Holding on expansion mode, acquires stake in Gewan

This acquisition aims to diversify and expand into sectors in which EIH invests

Published: Wed 9 Aug 2023, 9:10 PM

Updated: Thu 10 Aug 2023, 10:57 AM

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Abu Dhabi-headquartered Ethmar International Holding (EIH) has acquired strategic stake in Gewan Holding, an investment company with diversified activities across different sectors.

EIH has established and acquired more than 30 companies in six diversified sectors, including energy, real estate, investment, technology, healthcare, and hospitality. Meanwhile, Abu Dhabi-based Gewan is a diversified holding company operating in sectors including real estate, general trading, hospitality, travel and tourism, restaurant’s management, and agri-tech and, boasts an impressive track record of successful projects.

This acquisition aims to diversify and expand into sectors in which EIH invests and is driven by the comprehensive vision of the UAE leadership to boost and develop investment opportunities in the capital, aligning with Abu Dhabi Economic Vision 2030.

Ali El Gebely, managing director and group CEO of EIH, noted the strategic acquisition in Gewan represents a step supporting the company’s vision to diversify and expand its presence in various sectors.

“This partnership will offer us opportunities to invest in new sectors, resulting in joint projects that will contribute to providing new job opportunities within vital sectors, thereby positively impacting the growth of the UAE’s economy.”

EIH, El Gebely, underlined aims to generate sustainable returns for its investors.

“We affirm our role in providing a leading investment environment across multiple sectors, benefiting from Gewan’s extensive experience within these sectors. Through this partnership, we aspire to launch strategically significant projects and expand the scope of our investments.”

Alaa Al Ali, group CEO of Gewan Holding, pointed out that the company has an impressive track record of achievements and successful operations in various vital sectors in Abu Dhabi and the UAE, paving the way for further expansion through EIH’s acquisition.

“This aligns with our shared vision to work on new projects and investments that are in line with the significant development taking place in the UAE’s economy, under the guidance of our wise leadership that aims to achieve further prosperity for the capital, Abu Dhabi.”

Al Ali said that Gewan has achieved several successful projects over the years.

“We are delighted to take this important step with EIH, marking a new phase that will bring even more achievements in the sectors we will jointly be present in the future,” Al Ali added.

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