Abu Dhabi's Multiply Group sets sights on high-growth sectors and food security

Merger with fellow IHC units will provide a 'very balanced' portfolio and finances, CEO Samia Bouazza tells The National

Samia Bouazza, group chief executive officer and managing director of Multiply Group, says energy and consumer sectors are key to future growth. Victor Besa / The National

Abu Dhabi investment company Multiply Group will be targeting sectors that will yield double-digit growth with a major focus on supporting the UAE's food security agenda, its chief executive has said.

The portfolio of Multiply Group – which this month merged with fellow International Holding Company entities 2PointZero and Ghitha Holding – is concentrated on the energy and consumer sectors, with the latter comprising mobility, media, apparel, packaging and beauty.

"If we follow where governments and big corporates are spending money, these two sectors are the foundation of our economy today and of our societies today," Samia Bouazza told The National in an interview.

Multiply Group's board this month proposed to acquire 2PointZero and Ghitha Holding through a share swap transaction that will, once the deal is finalised, create a Dh120 billion ($33 billion) "next‑generation investment powerhouse". The merger is awaiting regulatory approval.

Ghitha Holding, in particular, operates in agriculture, food production and distribution operations – and the merger would allow Multiply to tap into the crucial food sector, which Ms Bouazza called "the very fundamental consumer need".

"We will continue to mainly operate in food [sectors] across the value chain, [such as] food production, from farm to fork, very focused on the UAE playing a big role in food security," said Ms Bouazza, who is also Multiply Group's managing director.

That is expected to complement the company's portfolio and allow both its access to their two main sectors and finances to be "very balanced", she said.

"A lot of these assets present recurrent income and long-term contracts with shareholders, while others benefit from high growth and artificial intelligence disruptions, which also brings an upside to the shareholders.

"We will continue exploring sectors where we see double-digit growth and alignment with our geographical expansion, where we see the criteria of our investment is met."

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AI and data centres

Multiply Group has also invested in AI across its entire portfolio, as part of a digital transformation programme that has helped its strategy, Ms Bouazza said.

"We knew we needed to embrace AI ... part of the growth came as a result of applying a lot of AI tools and mobility ... we are investing in AI talent – data scientists, data analysts and AI tools."

Ms Bouazza also acknowledged the AI-driven growth of data centres, especially in the UAE, which presents another opportunity for energy investments.

Utilities, energy providers, cooling and electrical equipment manufacturers, and telecom operators that are building power and connectivity infrastructure for AI data centres would require an AI workload capital expenditure of about $1.3 trillion, consultancy McKinsey & Co said in a study in April.

"A big part that is fuelling the demand for energy is the commitment of several governments to create data centres around the world," Ms Bouazza said. "Trillions of dollars [are] to be invested in energy ... in order to be able to supply more power to AI data centres."

Q3 profit soars 164%

Multiply Group reported profit for the third quarter of 2025 had leapt nearly 164 per cent annually, underpinned by its long-term, results-driven strategy.

Net profit attributable to owners of the company in the three months ending on September 30 soared to about Dh1.95 billion, the company said in a filing to the Abu Dhabi Securities Exchange, where its shares are traded.

Revenue in the three-month period nearly tripled year-on-year to Dh1.22 billion, while earnings before interest, taxes, depreciation and amortisation – a key measure of profitability – rose 56.3 per cent to Dh597 million.

For the first nine months of 2025, net profit swung to a gain of Dh2.64 billion, as revenue more than doubled to Dh2.24 billion.

Ms Bouazza expects Abu Dhabi and the UAE to remain a hotspot for investors, who have remained "very positive" on its economic fundamentals and adoption of advanced technology.

"The UAE has this unique opportunity to present itself ... with its AI and tech infrastructure, legal status and the ease of doing business, which has helped attract a lot of foreign direct investments into the country," she said.