IHC subsidiary acquires 60% stake in Vision Factory and 45% stake in contractor Etihad Towers Decovision as it seeks to expand into the interior design space sector
Emirates Stallion Group (ESG), the UAE-based investment, engineering and construction services company and a subsidiary of International Holding Company (IHC), said it has acquired a substantial number of shares in two interior design companies from the United Arab Emirates. to further develop its business in interior space design and product manufacturing.
In a statement, ESG announced that it had acquired a 60% stake in Vision Factory, a major furniture and joinery production plant in the United Arab Emirates, and a 45% stake in Decovision, a design services provider. interior and engineering.
Founded in 2003, Vision Furniture and Decoration Factory operates from a 24,000 sqm facility in Abu Dhabi and employs over 550 skilled workers to produce a wide range of furniture, decoration, paneling and door products. It has also recently expanded into the production of upholstery fabrics.
Decovision has been in business for 19 years and has a strong focus on engineering and project execution in the interior design space, the statement added. It has over 60 engineers and operates a state-of-the-art facility at Mussafah in Abu Dhabi. Some of its major clients include luxury hotels, developers and contractors, as well as prominent government companies in Abu Dhabi.
Some notable projects include: the Presidential Palace, Emirates Palace, Etihad Towers and Marriot’s The Edition.
Group Chairman Matar Suhail Ali Al Yabhouni Aldhaheri said: “These acquisitions are part of our efforts to continue growing ESG revenues beyond engineering and construction.
“Interior space design and product manufacturing will play an important role in our growth strategy while revolutionizing the design experience in the local market,” he said.
“Given global supply challenges, domestic products are in greater demand than ever. We see a strategic move for market growth with the acquisition of two leading brands, Decovision and Vision Factory, which will create a complete quality solution for designs and furnishings that is inclusive and accessible to the local market,” remarked Aldhaheri.
These two acquisitions mean that Emirates Stallion Group is now active in 12 markets, providing engineering, construction, development and property management services, he added.
Established in 2006 and listed on the ADX Growth Market since late 2020, the group has assets worth over US$136 million.