Dubai: Abu Dhabi-based Mwasalat Holding, a major player in the UAE’s transport sector, has sold a 22.5% stake to Emirates Driving Company (EDC), marking a significant move in the region’s evolving mobility landscape.
Mwasalat, which recorded revenues of over Dh650 million in 2024, operates a diverse portfolio that includes public buses, taxis, school transport, and corporate vehicle hire services.
EDC, a subsidiary of ADX-listed Multiply Group, also holds an option to increase its stake to 50.6%, subject to the fulfilment of specific conditions and regulatory approvals.
“This strategic investment marks a major milestone in EDC’s long-term growth strategy, reinforcing its position as a mobility champion,” the company said in a statement.
The partnership is expected to create significant operational synergies, enhance profitability, and open avenues for joint ventures in bus and taxi operations across the UAE.
“Our goal is to deliver safer, more accessible, and intelligent mobility solutions that align with the evolving needs of communities across the UAE,” said Khaled Al Shemeili, CEO of Emirates Driving Company.
The deal coincides with a transformative period in the UAE’s transportation sector, where robo-taxis and air-taxi services are being tested in cities like Dubai and Abu Dhabi, further expanding the country’s already extensive mobility ecosystem.
