Zabeel Capital Buys Stake in ASP Access Floors

Dubai,UAE, Feb. 16, 2009--Zabeel Capital, the wholly owned investment arm of Zabeel Investments, said that the company has acquired a 51 percent stake in ASP Access Floors' operations in the UAE, which has responsibility for the company's operations in the Middle East and Asian markets.

Founded in Australia, the company specializes in the manufacture, installation and supply of turnkey raised flooring solutions worldwide.

In an industry where the business community in general, and specifically property developers, are looking to acquire or handover quick premium commercial space, the partnership between Zabeel Capital and ASP Access Floors can offer the investor a new fast solution through the manufacture and installation together in a one stop process.

Jbran Rahal, managing director for Zabeel Capital, commented: "Despite the downturn in residential property projects, we see that the development of new commercial space and the growth of 'economic' cities here and across the Middle East will help to expand ASP Access Floors in to new markets, growing the brand organically in the region and abroad."

With the commercial gross leasable area still expanding despite current market situations, Dubai alone is a valuable prospect for ASP Access Floors.