Emaar Industries & Investments (EII), a member of Emaar Properties, acquired a substantial stake in Leaders Fort Contracting (LFC), a UAE-based construction company, reported Gulf News.
The size of the stake and the acquisition amount are yet to be announced.
EII will contribute to the development of LFC’s business activities and strengthen its market share including exploring potential partnerships on mega-developments in the UAE, as well as expanding to other GCC markets, said the company in a statement, according to Trade Arabia.
EII will support LFC’s expansion into the petroleum and military sectors, as well as providing support to LFC in building its service portfolio.
“The partnership with Emaar Industries & Investments will enable us to secure long-term growth through strategic business activities and a wider geographic footprint. Our specialized 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,” said Mohammed Bazzari, Chief Executive Officer of LFC, to Trade Arabia.
EII supports various business entities, all of which offer services in the manufacturing and industrial sectors. LFC, founded in 2006, has undertaken works for numerous projcts including Burj Khalifa, The Dubai Mall, Dubai International Airport, Abu Dhabi International Airport, The Presidential Palace, among others.