Dubai Glass LLC, the glass business of Dubai Investments PJSC (DI), has recently partnered with the Abdullah Abdul Gani & Sons group of companies to launch a new USD 20 million (AED 73.46 million) Qat…
Dubai Glass LLC, the glass business of Dubai Investments PJSC (DI), has recently partnered with the Abdullah Abdul Gani & Sons group of companies to launch a new USD 20 million (AED 73.46 million) Qatar-based glass company. The move is aimed at addressing the huge demand for glass and glass products in Qatar“s booming construction industry. Under the terms of the agreement, Dubai Glass will hold the largest stake in the joint venture with a 49% share, and in return will provide technical and management expertise, including transfer of know-how, technology, licences, management and personnel. Abdullah Abdul Gani & Sons will hold the remaining share of the investment and will provide the venture with local knowledge and support mainly through its subsidiary A&C Abdul Gani & Cardahi Construction and Installation, which has experience in setting up industrial projects in Qatar. When operations begin shortly, the new company will produce, cut, temper, laminate, assemble and supply high-performance glass for architectural and construction uses in Qatar, and eventually expand its operations. Abdullah Abdul Gani & Sons has been a leading name in the business environment of Qatar since 1958. Dubai Investments is the largest company listed on the UAE stock exchange, and operates with a paid-up capital of AED 2.17 billion. With more than 12 years of experience in establishing, acquiring and strategically participating in corporate ventures, DI has grown its portfolio to 44 companies.