Ethmar International Holding acquires stake in Nirvana Holding

By Shilpa Annie Joseph, Official Reporter
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Acquisition of Nirvana Holdings
Officials during the signing ceremony.

Ethmar International Holding (EIH) has signed a strategic acquisition deal in order to acquire a stake in Nirvana Holding.

Abu Dhabi-based Nirvana holds a prominent position in the tourism and hospitality sectors in the emirate and the UAE, with a proven track record and a multitude of branches both domestically and internationally.

This acquisition intends 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.

Ali El Gebely-EIH
Ali El Gebely
MD & Group CEO

“We are delighted to announce the acquisition of a strategic stake in Nirvana, as it represents a 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.”

This move is 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.

Mr. Alaa Al Ali, Group CEO of Nirvana Holding, stated that, “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.”

“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,” Mr. Al Ali added.

Related: Ethmar International Holding acquires Lamar Residences in Abu Dhabi