M'Sharie LLC, the wholly owned private equity arm of Dubai Investments PJSC, has recently entered into a joint venture with Al Arif Contracting Company LLC, one of the leading contracting companies in the UAE. The joint venture agreement was signed by Abdul Aziz Bin Yaqoob Al Serkal, Managing Director of M'Sharie, Hamad Abdul Karim Al Arif, Chairman of Al Arif Group in the presence of AbdulQader Al Sharafi from the “Al Arif Group”.
Explaining the rationale in joining hands with Al Arif Contracting, Al Serkal said: "Our investment criterion allows us to select strategic opportunities through which we can facilitate the company's growth by providing complementary skill sets. This deal suits us perfectly as Al Arif has an excellent reputation in the industry, and we look forward to a long and mutually beneficial alliance.”
Al Serkal was also bullish about the construction industry in the UAE and the region. "The UAE has the highest per capita expenditure on construction in the world, and it is further expected to grow at over 7 per cent annually in the coming years. M’Sharie is pleased to play a pivotal role in this booming construction scenario as several of the companies in our portfolio are in the construction line, and this partnership with Al Arif Contracting will further boost our market presence,” he added.
Al Arif Contracting – part of the Al Arif Group that consists of 14 companies – was established as early as 1975, making it is one of the oldest contracting companies in the UAE. It is renowned for its quality and has completed a number of major construction projects that includes prestigious commercial and residential buildings, schools, hotels, villas and warehouses in Dubai and northern emirates.
Hamad Abdul Karim Al Arif said: “Partnering with M’Sharie is certain to help us achieve rapid growth in this dynamic market as we believe M’Sharie’s strategic support could perfectly complement our reputation in the industry, earned through our commitment to constantly deliver high quality service to our clients. Together with M’sharie we are keen on working on several landmark projects in the UAE in the near future, and in the process reaffirm our position in the regional market.”
M'Sharie – which has made equity investments in over 17 companies in the past few years - invests in high potential existing businesses in diverse sectors. It focuses primarily on the growth and expansion stage investments as well as mezzanine investment financing and buyout of mature companies with excellent past record. M’Sharie enhances the value of its partner companies through group leverage, operational and financial improvements and attractive management incentives to realize capital gains.
