Construction recruitment and outsourcing firm Sawaeed Holding has acquired two businesses, United International Group for Manpower Services (UIG) and Progressive Real Estate Development, according to a bourse filing on Wednesday.

The acquisition includes 100% of all the shares in the capital of the two entities, said International Holding Company (IHC) subsidiary Emirates Stallions Group (ESG), in a disclosure on the Abu Dhabi Securities Exchange (ADX).

UIG is a provider of manpower outsourcing services in the UAE, while Progressive specialises in managing a workers’ accommodation facility in Mussafah, Abu Dhabi.

Last April, ESG completed the full acquisition of Sawaeed Holding, as part of a strategy to boost presence in the manpower and labour accommodations market.

“By integrating UIG’s and Progressive’s capabilities under Sawaeed, ESG is strategically consolidating its manpower services and workers accommodation businesses into a single, focused entity,” according to a separate statement.

(Writing by Cleofe Maceda; editing by Seban Scaria) seban.scaria@lseg.com