Ex-Arabtec CEO’s Marya Group Invests $1 Billion, Mulls Listing

  • Hasan Ismaik’s firm invested in education, healthcare and F&B
  • Ismaik was at center of Arabtec stock sell-off in 2014

Abu Dhabi-based Marya Group, chaired by former Arabtec Holding PJSC Chief Executive Officer Hasan Ismaik, is considering an initial public offering after the company’s investment portfolio passed $1 billion.

The group, which invests in education, health care, real estate and food and beverage in the Middle East, Europe, and America, plans to increase its investments “through a number of strategic acquisitions and partnerships - both regionally and internationally,” Ismaik said in an e-mailed statement on Wednesday. There are plans to list on a “major” stock market, he said.

Ismaik, a Jordanian national, was at the heart of a stock sell-off in Dubai in 2014 after his sudden exit from Arabtec along with other top managers shocked investors. He owned about a third of the United Arab Emirates’ largest construction company at the time and sold part of his stake for $962 million to Abu Dhabi’s state-controlled Aabar Investments PJSC. Ismaik still holds almost 12 percent in Arabtec and is the second-largest investor after Aabar, according to data compiled by Bloomberg.

“Marya’s strategy is based on investing in a number of sectors that have been studied and carefully selected,” Ismaik said in the statement. “The U.A.E. has also become one of the most attractive destinations for investment worldwide and a key driver for ambitious development projects and large ventures.”

Ismaik is also the chairman of Jordan’s Masaken Capital, known as Jordan Masaken for Land & Industrial Development Projects, according to the company’s website. Masaken plans to invest in real estate, health care, education and construction in the U.A.E., Saudi Arabia, Egypt and Jordan, Ismaik said in an interview last September. He was elected chairman of the company last year after buying a 37 percent stake.

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