Emirates International Holding announce significant partnership with Abraaj Capital

With Gulf Resources LLC being the largest shareholder, Abraaj now holds the second largest stake in EIH, which has an initial paid up capital of 250 million AED.

With an impressive portfolio comprising of luxurious residential and commercial properties, EIH is committed to evolving into one of the leading private sector Real Estate Development Companies in the region. Adding to the firm's credibility, EIH is backed by a progressive, visionary leadership complemented by an excellent management team. Through years of regional and international exposure to the real estate sector, EIH's team is working closely to creatively utilize key opportunities in the region and abroad.

The firm recently partnered with Sunland Group Limited, one of Australia's most reputable property development companies, to embark on the global roll out of 'Palazzo Versace' resorts, which capture the unique essence of the Versace brand and its discerning global clientele. The significant investment by EIH included the acquisition of a 50% stake in Palazzo Versace, Gold Coast, already a major resort in Australia. Further resorts are expected to be announced soon. Apart from this, EIH also has a number of regional and international real estate projects in the pipeline.

Speaking at a ceremony to mark the occasion, Reza Jaffar, Managing Director of Emirates International Holdings commented, 'We are proud to announce our partnership with Abraaj Capital as we are confident that our development expertise, coupled with the expert investment capability of Abraaj will be a winning combination. We aim to work closely with Abraaj to drive key investments in major projects throughout the UAE and internationally.

Commenting on the agreement, Arif Masood Naqvi, CEO, Abraaj Capital said, 'We have closely followed the latest developments and growth of EIH. Through careful due diligence we concluded that EIH's business plans are very promising and carry with them excellent future prospects.'

With the addition of Abraaj Capital's Real Estate fund as a major shareholder, EIH now enjoys a stronger investor base with other key shareholders. The latest agreement with Abraaj is bound to enhance EIH's regional and international growth through enhanced investment capability supported by an experienced, skilled team at EIH.