Abu Dhabi (Al Ittihad)
ESG Stallions Emirates (ADX: ESG), a leading investment, engineering and construction services company, and a subsidiary of International Holding Company (IHC), has announced its strategic growth plan in the employee and labor housing sector. It aims to make new acquisitions before the end of this year.
The move by ESG Stallions UAE comes as the number of staff and workers hired to work in Abu Dhabi has increased dramatically over the past six months, with more construction and new infrastructure projects planned for the capital.
ESG Stallions UAE is looking forward to increasing its efficiency in all business sectors following the impressive performance in the third quarter of this year, with profits amounting to 103 million dirhams, and reaping the benefits of the strong performance of its business units and companies.
In this context, Matar Suhail Ali Al Yabhouni, Chairman of the Board of Directors of ESG Stallions Emirates, said, “The housing sector for employees and workers is expected to witness strong growth in the coming year, as the capital witnesses a new launch for many mega projects. Investing in employee and labor housing is crucial to our growth plan and to our shareholders as well. The ESG team is close to identifying a number of potential multi-million dollar acquisition opportunities within this sector, and we will announce more details as we get closer to signing the deal.”
ESG Stallions UAE is looking forward to developing its existing employee and labor housing portfolio before the end of 2023.
