Built to inform

Sign up for the daily newsletters

No, Thank you

KBW Investments acquires UAE-based fit-out company

KBW Investments has signed a majority acquisition of UAE-headquartered fit-out company, Grayscale Interiors

KBW Investments’ HRH Prince Khaled bin Alwaleed bin Talal (left) and Grayscale Interiors’ Dr Gary Vastag (right) signed the majority acquisition agreement in Dubai, UAE.
KBW Investments’ HRH Prince Khaled bin Alwaleed bin Talal (left) and Grayscale Interiors’ Dr Gary Vastag (right) signed the majority acquisition agreement in Dubai, UAE.

KBW Investments has signed a majority acquisition of Grayscale Interiors.

The agreement was signed in Dubai, UAE by HRH Prince Khaled bin Alwaleed bin Talal, founding chairman of KBW Investments, and Dr Gary Vastag, managing director of Grayscale Interiors.

Prince Khaled and his colleagues said that the deal would further strengthen KBW Investments’ service offering for the region’s construction sector.

Commenting on the agreement, Ahmed Alkhoshaibi, group chief executive officer of KBW Investments, said: “After partnering with Grayscale Interiors for several projects that required bespoke interior fit-outs, it was clear that having the company join the KBW Investments portfolio would increase our group’s capability to address projects from the early conceptual development and planning stages, all the way to project management and execution stages.

“Grayscale’s strong focus on business development, industry integrity, best practice implementation, and finally, high-quality end product, is exactly the type of venture that appeals to KBW for strategic growth aims.”

Grayscale Interiors, which was founded by Dr Vastag in 2013 and operates from Dubai, specialises in interior fit-outs for a variety of sectors, including hospitality and commercial building developments. Today, the firm boasts projects in the UAE, Qatar, and Saudi Arabia, and plans to expand further following the completion of KBW Investments’ acquisition.

Dr Vastag noted: “Grayscale Interiors, after satisfying the six-month KBW Investments due diligence process, is now well positioned to continue to scale regionally and farther afield in line with the group’s international network and vision.”

Most popular

Awards

Construction industry conversations around digitisation must evolve
The Middle East construction industry’s approach to tech must evolve and focus on how can

Conferences

Construction Week's Leaders Kuwait 2019 summit kicks off today
More than 100 decision-makers from Kuwait's construction industry to convene at conference in Kuwait City
HKA: Volume of construction disputes to stay consistent in 2019
EXCLUSIVE: Consultancy’s Michael McSorley talks about methods to avoid and ‘speedily resolve’ construction disputes

Latest Issue

Construction Week - Issue 751
Oct 13, 2019