Latest news with #VisionFurniture
Trade Arabia
21-05-2025
- Business
- Trade Arabia
Emirates Stallions expands Saudi presence with 13,000 sqm warehouses
Emirates Stallions Group, a leading conglomerate operating across the workforce solutions, construction and real estate sectors, and a subsidiary of International Holding Company (IHC), has announced the purchase of a 16-year agreement for the usufruct rights of 13,000 sq m of warehouse space in Saudi Arabia. ESG, through its subsidiary Vision Furniture & Decoration Factory, has bought the usufruct rights of an industrial contract with the Saudi Authority for Industrial Cities and Technology Zones (Modon) of two warehouse facilities with areas of 7,448 sq m and 5,991 sq m, marking a significant expansion of ESG's operations in Saudi Arabia and the wider GCC region. The new warehouse space is expected to be operational by Q3 of 2025. Matar Suhail Al Yabhouni Al Dhaheri, Chairman of ESG, stated: 'This agreement represents a strategic milestone for the group as it strengthens our presence in Saudi Arabia and enhances our ability to provide high-quality in-house solutions that meet our clients' needs. It also reinforces our credibility in pursuing thoughtful expansion and delivering value for the group, its shareholders, and its clients. We are always committed to strengthening our position in Saudi Arabia and across the GCC region.' The strategic move enhances ESG's current production capabilities and existing facilities in Abu Dhabi. The expansion aligns with ESG's mission of delivering excellence in the interior design and manufacturing sectors, reinforcing its commitment to meeting the growing demand for high-quality interior solutions in Saudi Arabia, one of the largest and fastest-growing markets in the region. Kayed Ali Kharma, CEO of ESG, added: 'We are excited about this expansion and the opportunities it will create for us in the GCC, particularly in Saudi Arabia. The new warehouse space in the Kingdom will enable us to better serve our clients and meet the growing demand in the region for interior design and manufacturing. We look forward to strengthening our role and continuing to deliver excellence in the fields we operate in through the group and its subsidiaries.'
Zawya
21-05-2025
- Business
- Zawya
Emirates Stallions Group expands Saudi presence with 13,000 sqm warehouses under 16-year agreement
The new warehouse space will support furniture production and storage and is set to launch by Q3 2025. Abu Dhabi, United Arab Emirates: Emirates Stallions Group (ADX: ESG), the leading conglomerate operating across the Workforce Solutions, Construction and Real Estate sectors, and a subsidiary of International Holding Company (ADX: IHC), announced today the purchase of a 16-year agreement for the usufruct rights of 13,000 square meters of warehouse space in Saudi Arabia. ESG, through its subsidiary Vision Furniture & Decoration Factory, has bought the usufruct rights of an industrial contract with the Saudi Authority for Industrial Cities and Technology Zones (MODON) of two warehouse facilities with areas of 7,448 square meters and 5,991 square meters, marking a significant expansion of ESG's operations in Saudi Arabia and the wider GCC region. The new warehouse space is expected to be operational by Q3 of 2025. Matar Suhail Al Yabhouni Al Dhaheri, Chairman of ESG, stated: 'This agreement represents a strategic milestone for the group as it strengthens our presence in Saudi Arabia and enhances our ability to provide high-quality in-house solutions that meet our clients' needs. It also reinforces our credibility in pursuing thoughtful expansion and delivering value for the group, its shareholders, and its clients. We are always committed to strengthening our position in Saudi Arabia and across the GCC region.' The strategic move enhances ESG's current production capabilities and existing facilities in Abu Dhabi. The expansion aligns with ESG's mission of delivering excellence in the interior design and manufacturing sectors, reinforcing its commitment to meeting the growing demand for high-quality interior solutions in Saudi Arabia, one of the largest and fastest-growing markets in the region. Kayed Ali Kharma, CEO of ESG, added: 'We are excited about this expansion and the opportunities it will create for us in the GCC, particularly in Saudi Arabia. The new warehouse space in the Kingdom will enable us to better serve our clients and meet the growing demand in the region for interior design and manufacturing. We look forward to strengthening our role and continuing to deliver excellence in the fields we operate in through the group and its subsidiaries.' This acquisition advances ESG's footprint in the GCC and supports its strategy to expand in the interior design and manufacturing sectors. It will enable the Group to meet rising local demand more efficiently while reducing lead times and logistical complexities. About Emirates Stallions Group (ESG) Emirates Stallions Group, a subsidiary of International Holding Company (IHC), is a leading provider of Manpower Supply, Workers & Staff Accommodation solutions, as well as Landscaping & Agriculture, Real Estate Development, Engineering Project Management and associated services to Construction, Development & Hospitality. With this holistic approach, ESG provides public and private entities as well as investors with comprehensive solutions at every phase of the project. Since it was established in 2008, the Abu Dhabi-based ESG has witnessed remarkable growth and expanded its activities to global markets across more than 20 countries in the Middle East, Asia, Africa, Europe, and the Americas. True to its vision to 'Be a leading force in building a resilient future,' ESG has placed itself at the center of the UAE's economic boom, stressing its core values of 'integrating for impact, creativity, adaptability, and driving client success.' With total assets of AED 3.68 billion as of 31 March 2025, the Group is set for phenomenal growth both inside the UAE and abroad. About International Holding Company (IHC): Established in 1999, IHC has become the most valuable holding company in the Middle East and one of the world's largest investment firms, with a market capitalization of AED 879.6 billion (USD 239.3 billion). Since then, it has transformed to represent a new generation of investors. IHC's commitment to sustainability, innovation, and economic diversification spans over 1,300 subsidiaries, driving growth across industries like Asset Management, Healthcare, Real Estate, Financial Services, IT, and more. IHC continually looks beyond the stand-alone value of its assets for opportunities, stepping outside of traditional approaches and artificial barriers to unlock opportunities across its portfolio, enabling sector-agnostic Dynamic Value Networks and creating results that are often much greater than the sum of their parts. At IHC, we take our responsibility to shareholders, customers, and employees seriously. Our commitment to responsible investment ensures that we create sustainable value by staying connected to the communities we serve, making a positive difference with every investment.
