Abu Dhabi, UAE - 23, August 2022: Emirates Stallions Group (PJSC), UAE’s leading investment, engineering, and construction services business and subsidiary of International Holding Company (IHC), has acquired a substantial amount of shares in two of the UAE indoor spaces design leading companies to expand its business further into indoor spaces design and product manufacturing.
ESG has acquired a 60% stake in Vision Factory, one the biggest furniture and joinery production facility in the UAE. The company has also taken a 45% stake in Decovision, the world-class quality interior design and engineering services provider.
Matar Suhail Ali Al Yabhouni Aldhaheri, Chairman of Emirates Stallions Group, said: “These acquisitions come as part of our effort to continue expanding ESG revenues beyond engineering and construction. The indoor spaces design and product manufacturing will play a significant step in our growth strategy while revolutionizing the design experience in the local market.”
Vision Furniture and Decoration Factory, founded in 2003, operates a 24,000 square meter facility in Abu Dhabi, employing over 550 skilled workers to produce a wide range of furniture products, decoration, panelling, and doors. The business has recently expanded through the addition of upholstery production.
Decovision is firmly established since 19 years to meet fast-growing demand for professional interior solutions, with a strong focus on engineering and project execution. The company has over 60 distinguished engineers and operates a state-of-the art factory in Mussafah in Abu Dhabi. Primary clients are a number of luxury hotels, major developers and contractors, and high-profile government-related enterprises in Abu Dhabi; and projects including the Presidential Palace, Emirates Palace, Etihad Towers, and Marriott’s The Edition.
'Given the global supply challenges, domestic products are in higher demand than ever. We see a strategic market growth move with the acquisition of two leading brands, Decovision and Vision Factory, which will create a comprehensive quality solution for designs and furnishings that is inclusive and accessible to the local market,' Aldhaheri added.
The two acquisitions maintain the significant growth momentum of Emirates Stallions Group, which is now active in 12 markets, providing engineering, construction, development, and real estate management services. The company, which was established in 2006, listed on the ADX Growth Market in late 2020 with assets of over AED 500 million.