21/10/2025 04:26 AST
Emirates Driving Company (EDC), a subsidiary of Multiply Group, has taken a significant step toward expanding its footprint in the UAE's mobility sector by acquiring a 22.5% stake in Mwasalat Holding. The deal includes an option to increase its shareholding to a controlling 50.6%, signaling EDC's transformation from a driving education provider into a fully integrated mobility player.
The acquisition marks a milestone for Multiply Group, an Abu Dhabi-based investment holding company listed on ADX, as it continues to pursue regional and global growth through strategic investments. The move positions EDC as a key player in the UAE's evolving transport landscape, aligning with national goals for innovation, sustainability, and smart mobility.
"This acquisition further strengthens and transforms EDC into a future-ready mobility champion," said Samia Bouazza, Group CEO and Managing Director of Multiply Group. "It ensures the company remains agile and relevant in a fast-changing mobility environment, while delivering long-term growth and resilience."
Khaled Al Shemeili, CEO of Emirates Driving Company, emphasized the strategic importance of the investment. "This sends a strong signal of confidence in the UAE's mobility sector. It reflects our commitment to shaping the future of transportation by integrating advanced technologies and operational excellence to deliver safer, smarter, and more accessible mobility solutions."
Mwasalat Holding, headquartered in Abu Dhabi, operates a vast transport network across the UAE, including over 1,000 buses, 2,500 taxis, and 5,500 rental vehicles. With more than 5,000 employees, the company generated revenues exceeding AED 650 million in FY24. It has built a reputation for safety, innovation, and reliability, playing a vital role in urban mobility.
Omeir Al Mheiri, Managing Director at Mwasalat Holding, welcomed the partnership, calling it "an exciting new chapter" for both companies. "Together, we will drive synergies that advance smart mobility, sustainability, and digital transformation. This collaboration will enhance service delivery and operational efficiency, contributing to a more connected and innovative future for the UAE."
The deal comes amid a wave of acquisitions and platform-building activities by Multiply Group, which continues to explore strategic opportunities across its investment verticals. EDC's entry into the broader mobility sector complements its ongoing digital transformation efforts, including the development of AI-powered smart yards for autonomous driver testing and the transition to hybrid training fleets.
With this investment, EDC and Mwasalat aim to create a regional mobility powerhouse, integrating cutting-edge technology and data-driven solutions to elevate transport infrastructure and services across the Emirates.
Khaleej Times
Please wait...
