Sawaeed Holding acquires UIG & Progressive to become ESG’s flagship platform

Sawaeed Holding PJSC (ADX: SAWAEED), a leading provider of manpower and workers accommodation solutions in the UAE and a subsidiary of Emirates Stallions Group (ADX: ESG), has consolidated its leadership in the market through the strategic transfer of United International Group for Manpower services (UIG) and Progressive Real Estate Development, two of ESG’s major subsidiaries in the manpower and workers accommodation sectors. This transfer significantly bolsters Sawaeed’s dominant presence in these key sectors, further enhancing its ability to meet the growing demand in the UAE’s expanding economy.

By integrating UIG’s and Progressive’s capabilities under Sawaeed, ESG is strategically consolidating its manpower services and workers accommodation businesses into a single, focused entity. This move positions Sawaeed as ESG’s flagship platform in these sectors, significantly expanding its client base and doubling its manpower resources.

Abdulla Al Rashdi, Chairman of Sawaeed, said: “At Sawaeed, we are committed to investing in and developing top-tier companies that exhibit vast growth potential, market leadership capabilities, and sustainable profitability. This strategic acquisition underlines our strong confidence in the UAE’s manpower solutions and workers accommodation sectors and reflects our commitment to this dynamic and expanding industry. Moving forward, Sawaeed will build on its market-leading position by providing innovative employment solutions that align with the UAE’s economic growth objectives.”

With this strategic move, Sawaeed now provides oversight and support services to its subsidiaries that supply a broad range of services to a wide variety of clients within both private and governmental entities in the UAE.

Last Updated on 5 months by News Desk 1