Mulk Holdings International, a diversified multinational business conglomerate based in the United Arab Emirates, has announced its partnership with Park International Investments and Silver Heights Real Estate to create Alubond USA.
The joint venture which will focus on the manufacture and supply of exterior facade materials such as the Alubond brand of Aluminum Composite Panels (ACP), glass and aluminum facade elements, solid surfaces and roof shingles. Alubond USA has already secured supply contracts of over $ 100 million for five megaprojects in different regions of the United States.
The partnership brings together two giants – Mulk Holdings International and Park International Investments – to lead the exterior facades at a time when the US economy is returning to pre-pandemic levels.
Fueled by vaccinations and government aid, the U.S. economy posted solid 6.5% growth in the last quarter – another sign that the world’s largest economy has managed a sustained recovery from the pandemic recession. The total size of the economy has now passed its pre-pandemic level, according to reports.
“We are very pleased to announce this important partnership with Park International Investments and Silver Height Real Estate. Together, we will explore the development and construction activities of major projects in the United States. I am pleased to report that together with our partners, we have secured over $ 100 million in supply contracts in the United States, ”said Nawab Shaji Ul Mulk, President of Mulk Holdings International.
Mulk Holdings International has production facilities and operations in Asia, Europe, Africa and the Middle East with a sales network of over 100 countries.
“As the global economy recovers from a successful worldwide vaccination campaign, we at Mulk Holdings International have launched a major global expansion campaign that will see our business expand into new territories and expand significantly. its activities to meet growing demand around the world. Alubond USA is part of this global expansion, ”he said.
Park Investments, which operates in the United States, United Arab Emirates, South Korea and Bosnia and Herzegovina, has invested in real estate projects in all of these countries.
John Hwan Park, President of Park Investments, said: “This partnership will help us leverage our combined strengths and build on the core strengths of both companies and help us grow our business and meet the growing demand for quality homes and other pluses. Alubond’s product line is perfectly suited to the US market and we are very excited about this joint venture partnership which will help us accelerate our projects in the US and beyond.
John Hwan Park has been the entrepreneur of many successful businesses in the United States and South Korea for many years. He has over 20 years of retail, wholesale, restaurant and real estate experience. His company is currently developing a number of hotels under the Wyndham chain – which will be supported by the new joint venture entity, Alubond USA.
The group’s operations in the UAE are managed by Park International Investments, which is developing a number of projects. It is also developing projects in the United States, South Korea, India and Pakistan as part of Park Properties, its real estate development branch.
Silver Heights, a Dubai-based real estate management and brokerage group responsible for ensuring the smooth flow of buy and sell transactions across a broad portfolio of developments. It supports the holistic range of real estate transactions including commercial and residential property sales, acquisitions and leasing, property valuation and management, joint ventures and asset management.
Samir Munshi, Founder of Silver Heights Real Estate, said: “For us it is a strategic decision to develop new activities and a possible entry into the US real estate market where we could bring our expertise and benefit from experience of the American markets. The Alubond USA joint venture provides us with a platform to explore new avenues and take advantage of the opportunities of growing new demand.