Emaar unit buys significant stake in Leaders Fort Contracting

Emaar Industries & Investments (EII), a private joint stock company and member of Emaar Properties, has acquired a significant stake in the UAE-based Leaders Fort Contracting (LFC) for an undisclosed amount.

Nasser Batha, Chief Executive Officer 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. LFC has a strong track-record in providing specialised services for the construction sector, which fits well with our investment strategy. As a company with a specific focus on strengthening the industrial and manufacturing sector of the UAE, we will continue to explore such opportunities that add value to our stakeholders, while enabling the growth of our new partners.”

LFC offers specialised works including concrete repair technologies, industrial and trafficable flooring, waterproofing, protective coatings, MEP works among others.

Mohammed Bazzari, Chief Executive Officer of Leaders Fort Contracting, said: “The partnership with Emaar Industries & Investments will enable us to secure long-term growth through strategic business activities and a wider geographic footprint. Our specialised services are sought-after in the market, and we bring over a decade of expertise of working on large-scale projects across the UAE. 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.”

Follow Emirates 24|7 on Google News.