Emirates Driving Company (EDC), part of Multiply Group, is expanding its influence in the UAE’s mobility sector by acquiring a 22.5% stake in Mwasalat Holding. This acquisition includes an option to boost its ownership to a majority 50.6%, marking EDC’s evolution from a driving school to a comprehensive mobility provider.
This acquisition is a pivotal moment for Multiply Group, an Abu Dhabi-based investment firm listed on ADX, as it seeks regional and global growth through strategic investments. EDC’s move positions it as a significant player in the UAE’s dynamic transport sector, aligning with national objectives for innovation, sustainability, and smart mobility.
“This acquisition strengthens EDC’s transformation into a future-ready mobility leader,” stated Samia Bouazza, Group CEO and Managing Director of Multiply Group. “It ensures the company remains adaptable and pertinent in a rapidly changing mobility environment, fostering long-term growth and resilience.”
Khaled Al Shemeili, CEO of Emirates Driving Company, highlighted the strategic value of the investment. “This demonstrates strong confidence in the UAE’s mobility sector and reflects our commitment to shaping transportation’s future by integrating advanced technologies and excellence to provide safer, smarter, and more accessible mobility solutions.”
Mwasalat Holding, based in Abu Dhabi, manages an extensive transport network in the UAE, including over 1,000 buses, 2,500 taxis, and 5,500 rental vehicles. With more than 5,000 employees, the company generated revenue exceeding AED 650 million in FY24 and is renowned for safety, innovation, and reliability, contributing significantly to 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 create synergies that advance smart mobility, sustainability, and digital transformation. This alliance will enhance service delivery and operational efficiency, contributing to a more connected and innovative future for the UAE.”
This deal occurs amid Multiply Group’s wave of acquisitions and platform-building activities, as it explores strategic opportunities across its investment sectors. EDC’s entry into the broader mobility sector complements its ongoing digital transformation efforts, including AI-powered smart yards for autonomous driver testing and transitioning to hybrid training fleets.
Through this investment, EDC and Mwasalat aim to establish a regional mobility powerhouse, integrating cutting-edge technology and data-driven solutions to elevate transport infrastructure and services across the Emirates.
