ABU DHABI: EIH Ethmar International Holding PJSC and Nirvana Holding, two leading companies based in Abu Dhabi, have announced a strategic acquisition deal, through which EIH acquired a stake in Nirvana Holding.
This acquisition aims to strengthen Abu Dhabi’s position as a leading tourist destination and promote tourism investment and activities in the UAE capital by implementing and activating projects and operational plans that can contribute significantly to the tourism landscape, in line with the vision of the wise leadership to boost and develop the tourism sector in Abu Dhabi and Abu Dhabi Economic Vision 2030.
EIH has a successful track record, characterized by remarkable growth, diversity and profitability. The company has cultivated a diversified, innovative, and sustainable investment portfolio, comprising over 30 successful companies across various sectors, including real estate, energy, technology, investment, healthcare, and hospitality. 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.
Ali El Gebely, Managing Director and Group CEO of EIH, said: “We are delighted to announce the acquisition of a strategic stake in Nirvana, as it represents an important and fundamental step in enhancing Abu Dhabi’s tourism sector and endorsing EIH’s future plans. 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.”
“We affirm our commitment to play an essential role in providing a leading investment environment across multiple sectors, benefiting from Nirvana’s extensive and valuable experience within the tourism sector. Through this partnership, we aspire to establish a presence in the global market expanding the range of tourism services,” El Gebely added.
Alaa Al Ali, Group CEO of Nirvana Holding, commented on the acquisition, stating: “We are thrilled about EIH’s acquisition of a stake in Nirvana, as it marks a new chapter in the UAE’s tourism sector further strengthening our position in the industry. This acquisition comes aligned with our wise leadership’s vision in making Abu Dhabi one of the world’s top tourist destinations.”
“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. Our professional team dedicated to providing exceptional and unique tourism services has been also instrumental in our success. We are excited about this significant step with EIH, which marks the beginning of a new phase that will undoubtedly lead to further advancements in the tourism sector,” Al Ali added.
