Emirates Stallions Group Concludes 2023 with a Strategic Move Securing 60% Majority Stake in AFKAR Investments

Emirates Stallions Group Concludes 2023 with a Strategic Move Securing 60% Majority Stake in AFKAR Investments

Emirates Stallions Group (ADX:ESG), the Global investment, engineering, and construction solutions company and a subsidiary of International Holding Company (IHC), has announced today the acquisition of a 60% stake in AFKAR Financial & Property Investments, an Abu Dhabi-based company with diversified interests across the UAE. This significant move marks ESG’s robust expansion in the real estate and retail sector, further solidifying its position as a leading global investment powerhouse in the region.AFKAR has been active in various sectors including commercial enterprise investment, institution and management, companies’ representation, real estate enterprise investment and development, and the retail trade of household and office furniture and interior decoration materials. The company flagship brands, 2XL Home and OC Home, have strengthened their market presence with new showrooms and a strategic expansion plan, reflecting their commitment to quality and customer-centric approach.Kayed Khorma, CEO of Emirates Stallions Group, said: "Through this strategic acquisition, we are fortifying and diversifying our Group's portfolio, with the aim of expediting the development of our business plan for the upcoming year. Our focus is on delivering a higher Return on Investment (ROI) and continuing to add value to our investors."AFKAR has demonstrated remarkable growth with a 13% increase in assets and