EIH Ethmar International Holding has 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 develop investment opportunities in the capital, aligning with the economic vision of Abu Dhabi 2030.

EIH has cultivated a diversified, innovative, and sustainable investment portfolio comprising over 30 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.

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 provide new job opportunities within vital sectors, thereby positively impacting the growth of the UAE's economy."

Alaa Al Ali, Group CEO of Gewan Holding, stated, "Gewan boasts an impressive track record of achievements and successful operations in various vital sectors in Abu Dhabi and the UAE. This aligns with our shared vision to work on new projects and investments that align with the significant development in the UAE's economy. Today, we are delighted to take this important step with EIH, marking a new phase that will bring even more achievements in the future."