Arzaq buys 51% of Seaspray
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Arzaq buys 51% of Seaspray

Arzaq buys 51% of Seaspray

Dubai-based Arzaq Holdings, a private equity and venture capital firm, has acquired a 51% stake in Seaspray Marine Engineering & Services, Gulf Marinas, and International Houseboats. The companies specialize in construction and repair of aluminum ships including crew boats, passenger vessels, military type work vessels, yachts and house boats as well as floating marinas. Fahad Al Gurg, CEO of Arzaq, said the UAE is projected to be the top yacht manufacturer and exporter as a result of waterfront projects and the delivery of projects that include berthing facilities to their owners.

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