Zabeel Capital acquires 51% stake in ASP Access Floors

Dubai: Zabeel Capital, the wholly owned investment arm of Zabeel Investments, said yesterday that it has acquired a 51 per cent stake of ASP Access Floors operations in the UAE, which have responsibility for the company's operations in the Middle East and Asian markets.

Founded in Australia, the company specialises in the manufacture, installation and supply of turnkey raised flooring solutions across the globe.

In an industry where the business community in general, and specifically property developers, are looking to acquire or handover quick premium commercial space, the partnership between Zabeel Capital and ASP Access Floors can offer the investor a fast solution through a one-stop process combining manufacture and installation.

Jbran Rahal, managing director for Zabeel Capital, said: "Despite the downturn in residential property projects, we see that the development of new commercial space and the growth of economic cities here and across the Middle East will help to expand ASP Access Floors into new markets, growing the brand organically in the region and abroad.'

"The diversification of Zabeel Capital's equity portfolio, allows us to tap different industries, as well as avail of new technologies that bring synergy to our group of businesses."

ASP Access Floors was founded in July 2000, and is now a global market leader with the supply and installation of access floor panels across Australia, New Zealand, China, Dubai, and Qatar among others.

The advanced raised access floor system provides flexible solutions to customers. The system offers other benefits such as easy installation and maintenance.