Latest news with #GargashGroup
Zawya
02-07-2025
- Automotive
- Zawya
Gargash Group accelerates sustainability agenda with new sustainability linked facility from Mashreq
The deal marks one of the largest sustainable finance transactions in the UAE's automotive sector Brings the total sustainable finance transactions by Mashreq in the sector to AED 2.8 billion in 2025 A strategic move that supports UAE's Green Agenda 2030 through measurable ESG targets Dubai: Gargash Group, one of the UAE's leading business enterprises, is pleased to announce a significant step forward in its sustainability efforts with the signing of a Sustainability-Linked Facility (SLF) agreement with Mashreq, a leading financial institution in the MENA region. The agreement represents one of the largest SLFs in the UAE automotive sector to date and supports the group's efforts to align with UAE Green Agenda 2030 and Net Zero Strategy 2050. The facility ties financing terms to measurable Environmental, Social, and Governance (ESG) Key Performance Indicators (KPIs), including targets for reducing carbon emissions, increasing investment in employee development, and encouraging responsible practices across the supply chain. The signing ceremony took place at the Mercedes-Benz Brand Center in Dubai Design District and highlights Gargash Group's strong commitment to Environmental, Social, and Governance (ESG) principles. This agreement builds on the Memorandum of Understanding (MoU) signed with Mashreq in September 2024. It further illustrates Gargash Group's dedication to sustainable growth through the implementation of measurable Key Performance Indicators (KPIs) and improved governance frameworks. By directly linking facility terms to the achievement of ESG targets, the SLF highlights how sustainable finance can drive measurable environmental and social impact, while remaining aligned with the Group's broader business objectives. As part of Gargash Group's long-term sustainability vision, the company is implementing a comprehensive energy transformation roadmap throughout its network. This plan includes various initiatives focused on solar energy and energy efficiency, aimed at minimizing environmental impact while aligning with national clean energy goals. The landmark agreement not only advances the UAE's national climate strategies but also aligns directly with several UN Sustainable Development Goals, including SDG 13 (Climate Action), SDG 7 (Affordable and Clean Energy), SDG 8 (Decent Work and Economic Growth), and SDG 12 (Responsible Consumption and Production). Walid Hizaoui, Group Chief Strategy Officer at Gargash Group, said: "This Sustainability Linked Facility represents a crucial step in translating our ESG commitments into actions. At Gargash Group, we understand that achieving our sustainability goals requires not only vision but also rigorous execution, transparent accountability, and strong governance frameworks. This partnership with Mashreq reinforces our ability to track and measure our progress against clearly defined KPIs, ensuring that sustainability remains at the heart of our strategic decisions. We are dedicated to creating lasting value for our stakeholders while contributing positively to the environment and society, and this agreement is a testament to that commitment'. Thomas Schulz, General Manager Mercedes-Benz Passenger Cars at Gargash Enterprises, said: 'Sustainability is not just a responsibility, it's a core element of how we shape the future of mobility. This Sustainability Linked Loan reinforces our commitment to embedding sustainability principles into every level of our operations, from energy-efficient facilities to greener, smarter customer experiences. Through this partnership, we are proud to contribute to the UAE's national sustainability goals and set a new standard for responsible automotive leadership in the region'. Marwan Galadari, Executive Vice President & Head of Trading Division at Mashreq commented: "We are honored to deepen our partnership with Gargash Group through this Sustainability Linked Facility, which exemplifies our shared vision for a sustainable and responsible future. At Mashreq, we believe that integrating Environmental, Social, and Governance (ESG) principles into our financial products is not only essential for driving long-term value but also critical for addressing global challenges. This agreement enables Gargash Group to accelerate its sustainability initiatives while setting a benchmark for the automotive sector and the wider business community in the region'. Karim Amer, Senior Vice President, Head of Automotive, Heavy Equipment and Trading Multinational Groups at Mashreq commented: " ESG principles are becoming a core part of how financing is structured and deployed across the automotive sector, and this facility is a strong example of that shift. Building on our ambition to facilitate USD 30 billion in sustainable finance by 2030, it stands among the largest sustainability-linked facilities in the UAE automotive sector to date. This deal brings the total sustainable finance transactions concluded by Mashreq in this sector to AED 2.8 billion in 2025 and reflects our continued commitment to advancing sustainability in one of the country's most vital industries.' As the group continues to integrate ESG principles into every facet of its operations, the SLF stands as a model for how strategic finance can support broader environmental and societal goals. Gargash Group remains committed to driving impactful changes and setting new standards for accountability, transparency, and sustainable business practices across the region. About Gargash Group Established in 1918, Gargash Group is one of the UAE's leading business enterprises. Today, the group comprises a family of internationally renowned brands operating across four verticals: automotive, real estate, financial services, and Food & Beverage. It is recognized for its global expertise and deep understanding of local markets, enabling the group to deliver integrated, innovative, and competitive services. The group has introduced leading global automotive brands into the UAE, including Mercedes-Benz, Alfa Romeo, GAC MOTOR, SIXT Rent Car, SIXT Leasing & SIXT Limousine. Since 1998, Gargash Group's financial services arm, Daman Investments, has provided advisory, asset management, brokerage, and wealth management services in the UAE. Gargash Real Estate develops and manages high-quality residential, commercial, and industrial properties across the country. The group also includes several leading brands in the Food & Beverage industry. About Mashreq Mashreq is more than half a century old, yet he proudly thinks like a challenger, startup, and innovator. Mashreq pioneered key innovations and developments in banking, starting with entry-level digital-first customers and progressing to powering some of the region's most prominent corporations and wealth accounts. The bank's mandate is to help customers find their way to Rise Every Day, partnering through the highs and lows to help them achieve their goals and unlock their vision of success. Reassuringly present in major financial centres of the world, Mashreq's home and global HQ remains in the Middle East, offering services whenever and wherever opportunity takes its customers. Mashreq has been recognized as the fastest-growing Middle East brand by Banking 500 rankings for 2024 by Brand Finance.
Zawya
13-05-2025
- Business
- Zawya
Fueling the UAE's ambition for AI Excellence, Gargash Group hosts AI Hackathon UAE 2025
DUBAI: Gargash Group has successfully concluded its two-day AI Hackathon UAE 2025, held at the Mercedes-Benz Brand Center in Dubai Design District. The event brought together over 100 talented developers, coders, and technology enthusiasts tasked with designing smart, scalable solutions to enhance operational processes within the group. Aligned with the UAE Vision for a knowledge-based, innovation-driven economy, the hackathon served as a platform to foster local talent, encourage digital transformation, and accelerate the adoption of advanced technologies across industries. A total of 88 teams with 356 members registered, out of which 28 finalist teams comprising 114 participants were selected to take part in the live competition. Notable participants included 8-time hackathon champions, AI researchers from top global institutes, Emirati students, and early-stage tech founders. Over a challenging 24-hour sprint, teams worked intensively to address real-world operational challenges faced by Gargash Group, showcasing exceptional creativity, technical expertise, and collaborative spirit. A distinguished panel of jurors from various industries evaluated the projects based on innovation, practicality, and potential impact. The hackathon also featured an AI-focused panel discussion with leading voices in the field, covering topics such as the future of AI in business, responsible deployment, and how emerging technologies can be leveraged to solve regional challenges. The hackathon culminated in the awarding of an AED 30,000 cash prize to the winning team, whose solution was recognized for its groundbreaking approach and immediate applicability to Gargash Group's operations. Shehab Gargash, Managing Director and Group CEO of Gargash Group, commented: 'The UAE has always championed innovation as a catalyst for national progress, and at Gargash Group, we are proud to contribute to this vision by nurturing the next generation of tech talent. The AI Hackathon UAE 2025 empowered creative minds while allowing us to embrace transformative technologies that can keep us ahead of the curve in an increasingly digital world.' Walid Hizaoui, Group Chief Strategy Officer at Gargash Group, emphasized the significance of the event, stating: 'The AI Hackathon UAE 2025 is a pivotal step in our ongoing transformation journey. This event not only spotlighted brilliant local talent but also generated practical solutions that will directly contribute to elevating our operational excellence. We are committed to investing in technologies and initiatives that future-proof our business and empower the next generation of tech leaders, in line with the UAE's vision for innovation-driven growth and global leadership'. Strategic partnerships played a key role in enhancing the impact of the event. Gargash Group collaborated with leading tech enablers and innovation partners including: Adyen, Snowflake, Mesh, Transform UK, Villegas Recruitment Firm, Shorooq, and NextGenTechs. Through initiatives like the AI Hackathon UAE 2025, Gargash Group continues to reinforce its commitment to digital innovation, operational excellence, and the development of the UAE's technology ecosystem. About Gargash Group Established in 1918, Gargash Group is one of the UAE's leading business enterprises. Today, the group comprises a family of internationally renowned brands operating across four verticals: automotive, real estate, financial services, and Food & Beverage. It is recognized for its global expertise and deep understanding of local markets, enabling the group to deliver integrated, innovative, and competitive services. The group has introduced leading global automotive brands into the UAE, including Mercedes-Benz, Alfa Romeo, GAC MOTOR, SIXT Rent Car, SIXT Leasing & SIXT Limousine. Since 1998, Gargash Group's financial services arm, Daman Investments, has provided advisory, asset management, brokerage, and wealth management services in the UAE. Gargash Real Estate develops and manages high-quality residential, commercial, and industrial properties across the country. The group also includes several leading brands in the Food & Beverage industry.
CNBC
07-05-2025
- Business
- CNBC
Old days of boom and bust no longer norm, says Gargash Group
Monday - Friday: 12:00 - 13:00 SIN/HK | 0600 - 07:00 CET "The old days of boom and bust are no longer the norm," Shehab Gargash, chairman of Daman Investments and group CEO of Gargash Group, tells CNBC's Dan Murphy at the DFM Capital Markets Summit.
CairoScene
15-04-2025
- Business
- CairoScene
UAE's Deem Finance Secures $400 Million Debt Facility From JP Morgan
The financing will support Deem's expansion into consumer and SME lending, as demand for non-bank credit grows across the UAE. Apr 15, 2025 Deem Finance, a UAE-based non-bank lender backed by the Gargash Group, has secured a $400 million debt financing facility from JP Morgan. The asset-backed securitisation (ABS) deal is structured as a senior revolving facility and is backed by receivables from across Deem's existing portfolio, including credit cards and other consumer financial products. The funding is set to enhance Deem's balance sheet and support the company's ongoing expansion into consumer and small business lending. Deem currently offers a suite of products targeting underserved segments in the UAE, ranging from personal loans and credit cards to auto loans and SME financing. Daman Investments acted as Deem's financial advisor for the transaction. The facility marks a significant step in the lender's strategy to diversify its capital base and meet the growing demand for alternative financing solutions in the UAE. Founded in 2019, Deem Finance is fully owned by the Gargash Group, a family-run conglomerate with longstanding operations in both the automotive and financial services sectors. The deal aligns with a broader trend in the region, where non-bank financial institutions are tapping international capital markets to bolster lending capabilities and fuel fintech innovation.
Zawya
13-04-2025
- Automotive
- Zawya
Sayarti Rental expands fleet with the addition of the luxurious 2025 GAC M8
Muscat, Oman – In line with its commitment to providing advanced, reliable, and sustainable transportation solutions, Sayarti Rental, a part of the Automotive sector of The Zubair Corporation and a leader in the nation's transportation and equipment rental sector — has announced the latest expansion of its fleet with the addition of the 2025 GAC M8. This strategic addition comes through a partnership with Gargash Group, the exclusive distributor of GAC vehicles in the Sultanate of Oman. The integration of the premium 2025 GAC M8 reflects Sayarti's ongoing efforts to offer cutting-edge transportation solutions that meet the evolving needs of both government and private sector clients, as well as individual customers. The new model combines luxury, technology, and practicality — positioning it as an ideal choice for business and leisure users alike. Commenting on this milestone, Sohraab Hasnain, General Manager of Sayarti Rental and Used Cars, said, "This expansion aligns with Sayarti's strategic vision to continuously enhance its fleet with technologically advanced vehicles, in line with the company's growth and expansion plans. The addition of the GAC M8 marks a significant step forward in providing high-end vehicles with advanced features and low operating costs, reinforcing our commitment to offering best-in-class mobility solutions across the Sultanate. We are confident that our partnership with Gargash Group will further strengthen our ability to meet the diverse needs of our customers." Assim Shaikh, Business Manager at GAC Oman, also expressed his enthusiasm for the collaboration, stating, "We are delighted to partner with Sayarti to provide vehicles that exceed market expectations in terms of quality, performance, and competitive pricing. The 2025 GAC M8, with its distinctive design, spacious interior, and advanced technology, offers an exceptional experience for both corporate and family users." Designed with three rows of seating to comfortably accommodate up to seven passengers, the GAC M8 boasts a bold and sophisticated exterior, alongside a technology-rich cabin that caters to the comfort and convenience of both drivers and passengers. Established in 1992 as Al Zubair Leasing, Sayarti has evolved into a leading provider of vehicle rental and used car sales services in Oman. The company continues to reinforce its market leadership by aligning its offerings with international standards and industry best practices, including compliance with the Oman Energy Association (OPAL) requirements. With a steadfast focus on customer satisfaction, innovation, and operational excellence, Sayarti Rental and Used Cars remains committed to providing high-quality transportation solutions that cater to the diverse needs of both individuals and businesses. For more information, please visit:
