Mulk Holdings International, the UAE based diversified multinational business conglomerate with interests in Manufacturing of Metal Composites (Alubond U.S.A.), Facade Contracting, Aluminum Coil Coatings, etc. have entered into a joint venture with Park International Investments LLC, a global investment powerhouse and Silver Heights Real Estate, a Dubai-based property management group and real estate broker to establish Alubond USA LLC.
The partnership between Mulk Holdings International and Park International Investments has already gained supply contracts of over $100 million involving five mega projects across the US and is counting to spearhead exterior facades at a time when the US economy rebounds to the pre-pandemic levels.
Nawab Shaji Ul Mulk, Chairman of Mulk Holdings International, said: “We are very excited to announce this important partnership with Park International Investments and Silver Height Real Estate. Together we are going to explore major project development and construction activities in the United States. I am happy to announce that, together with our partners, we have secured more than $100m worth of supply contracts in the United States.”
Mulk Holdings International with its production facility has presence and operations in Asia, Europe, Africa and the Middle East with a sales network of more than 100 countries.
“As the global economy recovers following successful vaccination drive worldwide, we at Mulk Holdings International have launched a major global expansion drive that will see our company expand into new territories and grow business substantially to meet the growing demand worldwide. Alubond USA is part of this global expansion,” said Shaji Mulk.
The World’s biggest economy has achieved a sustained recovery from the pandemic recession, with a robust growth of 6.5% in the last quarter, propelled by vaccination drive and government aid. However, according to the report the total size of the economy has now surpassed its pre-pandemic level.
John Hwan Park, Chairman of Park Investments, said: “This partnership will help us leverage on our combined strengths and help us build on the core strengths of both the companies and help us expand our businesses and meet the growing demand for quality homes and other assets.”
Park Investments has operations in the US, UAE, South Korea and Bosnia-Herzegovina and has been investing in real estate projects across all these countries.
“Alubond’s product range is a perfect fit to the US market and we are very excited with this joint venture partnership which will help us to accelerate our projects in the United States and beyond,” he added.
The partnership will eye on the production and supply of exterior façade materials such as Alubond brand of aluminium composite panels (ACPs), glass and aluminium facade elements, solid surface and roofing shingles.
Samir Munshi, the founder of Silver Heights Real Estate, said: “For us, this is a strategic move to expand into new business and a possible entry into the US real estate market where we could lend our expertise and also gain from the experiences from the US markets. The joint venture Alubond USA gives us a platform to explore new avenues and benefit from the opportunities from the growth in new demand.”
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