The Moafaq Al Gaddah (MAG) Group is putting the full weight of its financial resources into creating a wider base in the manufacturing sector. That focus will now translate into exploring greater opportunities in the UAE.
"We already have factories in Syria, Egypt, Iraq and Turkey to manufacture auto spare parts, filters and accessories," said Moafaq Al Gaddah, founder of the group. "And as these business activities expand, our primary aim is to be involved more intimately with the manufacturing sector in the UAE, have our own trademarks, industrial plants and materials."
The group made its foray into the industrial space by manufacturing auto spare parts, filters and accessories, and then ventured into mineral grease as well as blending and packing all of engine lubricants.
The group, which is also set to develop extensive interests in automated parking facilities, launched operations from Abu Dhabi in 1978.
The Moafaq Al Gaddah Commercial Est. based in Abu Dhabi, considered the cornerstone of today's MAG Group, handles multiple product categories, including lubricants, filters, car accessories, tyres and batteries, car care products, bearings and industrial kits.
Meanwhile, the group has evolved into a conglomerate with more than 50 subsidiaries with an extensive overseas reach and a workforce of more than 2,000.
As a strategic objective, the group contributed to the founding of Cham Holding Company, currently rated one of the strongest national investment companies in Syria and bringing together 70 of the country's leading businessmen.
It soon built a portfolio of 16 projects covering sectors as diverse as tourism, transport, energy, electricity, industry, and oil and gas, as well as being in financial services, real estate investment, resorts and a shopping mall.
In the UAE, the MAG Group is intimately connected to real estate development activity. The bulk of its combined investments touched Dh4 billion in projects located in Dubai and Sharjah as well as elsewhere in the Middle East. There is also a strategic partnership with Emaar to develop the Eighth Gate project in Damascus.
Subsidiaries were also created to handle moves into the field of computers and home appliances, which cover many Arab, African, Asian and European markets.
