THE DAWN OF A NEW ERA
SIMDI Group and Arabesque FZCO sign Joint Venture Agreement to enhance tourism in multiple ways in the Maldives.
6th July 2022 - Press Release
Dubai-based company Arabesque FZCO and Male-based SIMDI Group have signed a joint venture agreement to co-operate in enhancing the tourism and hospitality sectors in the Maldives.
"We are excited to co-operate with Arabesque FZCO to improve accessibility to the Maldives from different parts of the World.
The Arabesque team has shared us with a vision which is exciting to be part of," says Mishal Ibrahim, the managing director of SIMDI Group.
"This agreement will be significant for us and the Maldivian tourism and hospitality industry.
SIMDI Group is one of the most renowned Maldivian companies at home and abroad, and we could not be more delighted to have this Joint Venture Agreement with us."
adds Tero Taskila, the Chief Executive Officer of Arabesque FZCO.
As part of the agreement, these two companies will establish jointly owned entities in the Maldives to focus on improving flight connections, tourism and hospitality training, and other related businesses.
"We are still working on the details and timelines, but we estimate that we directly create more than 200 new jobs in the Maldives in 2023 and indirectly significantly more," continues Tero Taskila, the Arabesque Chief Executive Officer.
"The timing of the initiatives couldn't be better. As the Maldives is celebrating the 50th year of International tourism, we at SIMDI Group keep working on solutions to support tourism and resorts better." says Mishal Ibrahim, the managing director Of SIMDI Group.
The Joint Venture is part of SIMDI Group's drive to work in business and service areas that improve the Maldivians' lives.
SIMDI Group represents over 200 brands and serves customers from exclusive resort-supply needs to essential household products.
With five segments and more than 300 workers, SIMDI strives to "Recreate Commerce" with its diversity and
stellar service range to provide nothing less than the best for its valued customers.
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