Emirates Driving Acquires Stake in Mwasalat, Expands Mobility

Abu Dhabi, UAE: Emirates Driving Company (EDC), a subsidiary of Multiply Group (ADX: MULTIPLY), has officially acquired a 22.5% stake in Mwasalat Holdings, with an option to increase its holding to 50.6%, marking a strategic step in the UAE’s mobility sector. The move strengthens EDC’s role in delivering seamless, safe, and sustainable transport solutions across the UAE and beyond.

This investment positions EDC to evolve from a driving education provider into a fully integrated mobility player, combining operational excellence, advanced technologies, and innovative solutions to meet the rapidly changing demands of the transport landscape.

Mwasalat, headquartered in Abu Dhabi, reported revenues of over AED 650 million in FY24, operating a fleet of 1,000+ buses, 2,500+ taxis, and 5,500+ rental vehicles, and employing more than 5,000 staff. The company has built a reputation for reliability, innovation, and safety, serving communities and businesses across the UAE.

The partnership aims to unlock synergies in smart mobility, digital transformation, and sustainable transport, enhancing operational efficiency, service quality, and customer experience. By integrating artificial intelligence and advanced technology across operations, EDC and Mwasalat are set to lead the future of UAE transportation.

This acquisition follows Multiply Group’s recent series of strategic investments, reflecting its broader plan to expand its holdings across key sectors while driving long-term growth and shareholder value. With this move, the UAE’s mobility landscape enters a new phase of innovation, connectivity, and sustainability, reinforcing the nation’s ambition to remain at the forefront of modern transport solutions.

The collaboration sets a precedent for future-ready mobility in the region, creating opportunities for enhanced service delivery, smarter urban transport, and a more connected community infrastructure aligned with national growth objectives.