EIH Ethmar International Holding acquires stake in Gewan Holding

Abu Dhabi, UAE, 03 August 2023: EIH Ethmar International Holding PJSC “EIH” and Gewan Holding “Gewan”, two leading companies based in Abu Dhabi, have announced a strategic acquisition of a stake in Gewan Holding. This acquisition aims to diversify and expand into sectors in which EIH invests and is driven by the comprehensive vision of the wise leadership in the UAE to boost and develop investment opportunities in the capital, aligning with Abu Dhabi Economic Vision 2030.

EIH has a successful track record, characterized by remarkable growth, diversity, and profitability. The company has cultivated a diversified, innovative, and sustainable investment portfolio, comprising over 30 successful companies across various sectors, including real estate, energy, technology, investment, healthcare, and hospitality. Gewan is a diversified Holding company operating in various sectors, including real estate, general trading, hospitality, travel and tourism, restaurant’s management, and agri-tech, boasting an impressive track record of successful projects.

Commenting on the acquisition, Ali El Gebely, Managing Director and Group CEO of EIH, said: “Today, we announce a strategic acquisition in Gewan, which represents a step that supports our vision to diversify and expand our presence in various sectors, aligning with our current and future plans that aim to generate sustainable returns for our investors. 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.”

“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.” El Gebely added.

Alaa Al Ali, Group CEO of Gewan Holding, commented on the acquisition, stating: “Gewan boasts 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.”

“Gewan is recognized as one of the leading companies in vital and productive sectors, having achieved numerous successful projects over the years. This is thanks to our ambitious plans, dedicated partners, as well as our competent and professional team. Today, 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.