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Emaar unit acquires stake in UAE firm Leaders Fort Contracting

Emaar unit acquires stake in UAE firm Leaders Fort Contracting

Emaar said it was exploring potential partnership opportunities with the company on its mega developments

Emaar Properties’ Industries & Investments unit announced on Tuesday it had acquired a significant stake in UAE concrete repair, flooring and MEP company Leaders Fort Contracting.

Under the deal, Emaar aims to boost the market share of the company, which also specialises in waterproofing, protective coatings and MEP works, and said it was exploring partnership opportunities on UAE mega developments.

Emaar also aims to help LFC expand its footprint in the oil and gas and military sectors and boost its service portfolio.

“LFC has a strong track-record in providing specialised services for the construction sector, which fits well with our investment strategy,” said Emaar Industries and Investments chief executive Nasser Batha.

“As a company with a specific focus on strengthening the industrial and manufacturing sector of the UAE, we will continue to explore such opportunities that add value to our stakeholders, while enabling the growth of our new partners.”

LFC has worked with Emaar in the past including works at the world’s tallest building the Burj Khalifa, and Dubai Mall.

It work portfolio also incudes Dubai International Airport, Abu Dhabi International Airport, The Presidential Palace, Mafraq Hospital, Al Ain Stadium, Yass Mall and Julphar pharmaceutical facilities.

The company is expected to almost double its industrial specialist employee headcount this following the EII investment.

“The partnership with Emaar Industries & Investments will enable us to secure long-term growth through strategic business activities and a wider geographic footprint,” said Leaders Fort Contracting chief executive Mohammed Bazzari.

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