ABU DHABI, 21st May, 2025 (WAM) -- Emirates Stallions Group (ESG), the leading conglomerate operating across the Workforce Solutions, Construction and Real Estate sectors, and a subsidiary of International Holding Company (ADX: IHC), announced today the purchase of a 16-year agreement for the usufruct rights of 13,000 square meters of warehouse space in Saudi Arabia.

ESG, through its subsidiary Vision Furniture & Decoration Factory, has bought the usufruct rights of an industrial contract with the Saudi Authority for Industrial Cities and Technology Zones (MODON) of two warehouse facilities with areas of 7,448 square meters and 5,991 square meters, marking a significant expansion of ESG's operations in Saudi Arabia and the wider GCC region. The new warehouse space is expected to be operational by Q3 of 2025.

Matar Suhail Al Yabhouni Al Dhaheri, Chairman of ESG, stated, "This agreement represents a strategic milestone for the group as it strengthens our presence in Saudi Arabia and enhances our ability to provide high-quality in-house solutions that meet our clients' needs. It also reinforces our credibility in pursuing thoughtful expansion and delivering value for the group, its shareholders, and its clients. We are always committed to strengthening our position in Saudi Arabia and across the GCC region."

The strategic move enhances ESG's current production capabilities and existing facilities in Abu Dhabi. The expansion aligns with ESG's mission of delivering excellence in the interior design and manufacturing sectors, reinforcing its commitment to meeting the growing demand for high-quality interior solutions in Saudi Arabia, one of the largest and fastest-growing markets in the region.

Kayed Ali Kharma, CEO of ESG, added, "We are excited about this expansion and the opportunities it will create for us in the GCC, particularly in Saudi Arabia. The new warehouse space in the Kingdom will enable us to better serve our clients and meet the growing demand in the region for interior design and manufacturing. We look forward to strengthening our role and continuing to deliver excellence in the fields we operate in through the group and its subsidiaries."

This acquisition advances ESG's footprint in the GCC and supports its strategy to expand in the interior design and manufacturing sectors. It will enable the Group to meet rising local demand more efficiently while reducing lead times and logistical complexities.