The Emirates Stallion Group (ESG), with a market cap of Dh2.14 billion, is a diversified investment, engineering and construction services business owned by Abu Dhabi's fastest-growing stock- International Holding Co.
ESG was listed in the second quarter of this year. Established in 2006, Emirates Stallion Group, is present in 12 markets and aims to be an all-encompassing real estate partner. It is home to five subsidiaries, 90 plus operational sites, and has four associate companies and joint ventures.
The subsidiaries include Century Real Estate, Royal Development Company, Abu Dhabi Land General Contracting, Gulf Dunes Landscaping and Agricultural services, and RAPM Architect Project Management. ESG announced that it has been awarded a three-year landscaping contract for the Corniche Road in Abu Dhabi by the Municipality.
This is one of the largest municipality projects of its type in Abu Dhabi. The project value is expected to be AED 46 million.
On the financials, ESG reported revenues of Dh86.3 million for the first-half of 2021 compared to Dh47.7 million last year. The net profit was recorded at Dh21.79 million, a 146 per cent increase on the Dh8.83 million from last year. Assets were Dh537 million as of end March last.
This striking performance once again illustrates the resilience of the group to withstand the blows from the pandemic. The UAE’s swift vaccination programmes and government stimulus offered while the country was battling the pandemic resulted in faster recuperation compared to other countries.
An overseas move
Recently, Emirates Stallions Group announced completion of the new Viceroy hotel in Kopaonik, Serbia. Being less than six hours’ flight time from the UAE, the company’s expansion plans come at a time when the travel and tourism sector is expected to sprout dramatically.
The company’s stock price is Dh8.56, a rise of 100 per cent from the time it was listed in June. The recent half-yearly performance demonstrates the group’s ability to deliver results and build on investors’ confidence.