'Hattan' means gentle rain in Arabic. “Our focus at Hattan is to contribute to the socio-economic development of the region, foster innovation, and empower the next generation of leaders," said Saood Al Ghurair. Image Credit: Supplied

Dubai: A new holding company – ‘Hattan’ – has been formed by Abdul Aziz Al Ghurair and Saood Al Ghurair, bringing together property, retail and investment interests.

This will mean Hattan is the parent entity for the ‘Masafi’ water and refreshment brand, as well as for the developer NED Properties and leasing firm Raas Real Estate.

It will also hold Massar, which is into investments, NeoHealth (home healthcare); Locly (ecommerce), and Lemonade, the family entertainment center brand.

“As we embark on this new chapter, we remain committed to driving positive impact within our community, our nation, and globally,” said Abdul Aziz Al Ghurair, Chairman of Hattan, in a statement. “By leveraging a diverse portfolio of investments, we will catalyse change and contribute to the betterment of our society.”

What the Hattan gameplan will be

The promoters are positioning it as a 'platform for entrepreneurs and global partners', who are seeking expansion into the UAE.

Hattan will take up diversity, empower Emiratis, and 'champion' female empowerment. "With a deep understanding of the UAE market and strong operational expertise, Hattan is positioned as a credible partner for growth and success," said a statement.

According to Saood Al Ghurair, "Hattan symbolises the strong homegrown roots that we are proud of and will continue to treasure as we embark on a new chapter of evolution. We have a proud history of innovation and entrepreneurship in the UAE, and today we continue to build upon our legacy."