Today's Edition
ABU DHABI (ALETIHAD)
Multiply Group announced that its subsidiary, Emirates Driving Company, has completed a strategic transaction to acquire a 22.5% stake in Mwasalat Holding, with the option to increase its ownership to 50.6%.
The investment marks Emirates Driving Company’s (EDC) expansion beyond driving education into the wider mobility sector, positioning it as a UAE mobility champion.
Samia Bouazza, Group CEO and Managing Director of Multiply Group, said: “This acquisition further strengthens and transforms EDC from a driving education provider into a fully integrated mobility player — one that is agile, innovative, and aligned with the future of transport. This evolution ensures the company remains relevant in a fast-changing mobility landscape and well-positioned to deliver long-term growth and resilience.”
Khaled Al Shemeili, CEO of Emirates Driving Company, added: “The investment in Mwasalat sends a strong signal of confidence about the UAE’s mobility sector and how the industry is primed for further growth.
"Equally, it reflects EDC’s commitment to shaping the future of transportation by combining advanced technologies with operational excellence, and building on our mission to deliver safer, more accessible and intelligent mobility solutions that meet the evolving needs of communities across the nation. We are especially looking forward to new horizons of opportunities in smart mobility together with Mwasalat.”
Omeir Al Mheiri, Managing Director of Mwasalat Holding, said: “Our partnership with Emirates Driving Company marks an exciting new chapter for Mwasalat and the wider UAE transport sector. This partnership provides us with a unique opportunity to drive synergies in ways that will advance smart mobility, sustainability, digital transformation and public service excellence.”
Headquartered in Abu Dhabi, Mwasalat Holding generated revenues of over Dh650 million in FY2024 and manages a diverse fleet comprising more than 1,000 buses, 2,500 taxis, and 5,500 rental vehicles across the UAE. With a workforce exceeding 5,000 employees, the company has built a strong reputation for safety, innovation, and reliability in providing accessible and efficient mobility solutions nationwide.
The acquisition establishes a foundation for a new regional mobility powerhouse, integrating innovation, advanced technology, and artificial intelligence across all operations. Both EDC and Mwasalat aim to support national efforts to create a seamless, sustainable transport infrastructure aligned with the UAE’s long-term mobility goals.
The move follows a series of strategic investments by Multiply Group and its subsidiaries as the Group continues to explore opportunities that strengthen its portfolio and deliver sustained value for shareholders.
