Abu Dhabi: Ethmar International Holding - EIH Group has acquired stake in Abu Dhabi-based Nirvana Holding, it was announced on Thursday.
“This acquisition aims to strengthen Abu Dhabi’s position as a leading tourist destination and promote tourism investment and activities in the emirate by implementing and activating projects and operational plans,” the companies said in a statement.
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- Ethmar International acquires Lamar Residences in Abu Dhabi’s Al Raha beach
- Abu Dhabi’s Ethmar International Holding to list after capital raise
- Ethmar International Holding and EFG Hermes conclude strategic partnership agreement
“Our strategic partnership with Nirvana will result in numerous projects within the tourism sector, further contributing to the growth of the national economy, and creating job opportunities for Emirati youth, thus supporting Emiratization in the UAE,” said Ali El Gebely, Managing Director and Group CEO of EIH. “Through this partnership, we aspire to establish a presence in the global market expanding the range of tourism services.”
EIH has a track record of diversified, innovative, and sustainable investment portfolio, comprising over 30 successful companies across various sectors.
Alaa Al Ali, Group CEO of Nirvana Holding, said: “Over the years, Nirvana has consistently been at the forefront of the hospitality and tourism landscape in Abu Dhabi and the UAE through its subsidiaries, serving as one of the leading providers of travel and tourism services for individuals, companies and government and non-government entities.”
On the other hand, Nirvana holds a prominent position in the tourism and hospitality sectors in Abu Dhabi and the UAE, with a proven track record and a multitude of branches both domestically and internationally.