Lama Group recently entered into Carfare by signing of a definitive agreement to merge the two services in the hospitality industry. The strategic partnership as a combined company is worth over AED365 million.
Both entities will retain their brand names but will operate under BK Group Holdings Co. The partnership will offer travel and mobility solutions to more than 2.5 m.
“The expansion of Dubai’s infrastructure in preparation for Expo 2020 has motivated us to take this step and invest for the future,” said Kulwant Singh, CEO and managing director of the new Group.
“We will be able to significantly broaden our reach in the UAE and in the region and continue to take substantial market share from existing competitors,” said Jasbir Bassi, managing director of both the Groups.
Nearly AED50 m will be invested in infrastructure projects in the next six months to supply demand that will be generated after the merger. As a result of the merger, the group will have an existing fleet of 3,500 cars, 200 limousines, a large fleet of 4×4 vehicles, three campsites, two cruises and two yachts.