Mulk Holdings, Park International Investments LLC and Silver Heights Real Estate establish a Joint Venture – ALUBOND USA – after securing exterior façade contracts for five mega projects include Wyndham Hotel – marking its entry in the United States
Date: Dubai, UAE, and New York, United States, August 11, 2021
Mulk Holdings International, a UAE-based diversified multinational business conglomerate, today announces its partnership with Park International Investments LLC, a global investment powerhouse along with Silver Heights Real Estate for the establishment of ALUBOND USA LLC.
This joint venture which will focus on the manufacture and supply of exterior façade materials like ALUBOND brand of Aluminium Composite Panels (ACPs), glass and aluminium facade elements, solid surface and roofing shingles. ALUBOND USA has already secured supply contracts of over US$100 million involving five mega projects in different parts of the United States.
The partnership brings together two giants – Mulk Holdings International and Park International Investments – to spearhead exterior facades at a time when the US economy recovers to the pre-pandemic levels.
Fuelled by vaccinations and government aid, the US economy recorded a solid 6.5 percent growth last quarter – in another sign that the world’s largest economy has achieved a sustained recovery from the pandemic recession. The total size of the economy has now surpassed its pre-pandemic level, according to reports.
“We are very excited to announce this important partnership with Park International Investments and Silver Height Real Estate. Together we are going to explore major project development and construction activities in the United States. I am happy to announce that, together with our partners, we have secured more than US$100 million worth of supply contracts in the United States,” Nawab Shaji Ul Mulk, Chairman of Mulk Holdings International, said.
Mulk Holdings International, has production facilities and operations in Asia, Europe, Africa and the Middle East with a sales network of more than 100 countries.
“As the global economy recovers following successful vaccination drive worldwide, we at Mulk Holdings International have launched a major global expansion drive that will see our company expand into new territories and grow business substantially to meet the growing demand worldwide. Alubond USA is part of this global expansion,” he said.
Park Investments, which has operations in the United States, UAE, South Korea and Bosnia- Herzegovina, has been investing in real estate projects across all these countries.
John Hwan Park, Chairman of Park Investments, said, “This partnership will help us leverage on our combined strengths and help us build on the core strengths of both the companies and help us expand our businesses and meet the growing demand for quality homes and other assets.
“Alubond’s product range is a perfect fit to the US market and we are very excited with this joint venture partnership which will help us to accelerate our projects in the United States and beyond.”
John Hwan Park has been an entrepreneur of many successful businesses in US and South Korea for many years. He has over 20 years of experience in Retail, Wholesale, Restaurant, and Real Estate business.
Under John Park’s leadership, what started out as a one shoe store operation grew to over 60 stores across the United States. He owned and operated over 60 The Athlete’s Foot franchises and concept retail shops across the United States with notable concept retail shop projects including Bo Jackson Dome, Game Time Sporting Goods, SNYX, Team Pro Shop, Nike Basketball Shop, and AKIN.
John Park was also the sole distributor of Nike Tae Kwon Do in North America and has launched the Nike TKD brand into the US market. John operated the highest volume urban retail franchise chain in the country and was the largest urban independent retailer of Nike in the Unites States.
Internationally, he owned and operated over 100 franchise stores of The Athlete’s Foot along with his own concept shops throughout South Korea. In the process he acquired sole distribution rights too many high-end brands such as DKNY, Diesel, Marc Jacobs and New Balance for South Korea.
His company is currently developing a number of hotels under Wyndham chain – that will be supported by the new joint venture entity, ALUBOND USA LLC.
The group’s UAE operations are managed by Park International Investments LLC, which is developing a number of projects. It is also developing projects in the US, South Korea, India and Pakistan under Park Properties, its real estate development arm.
Silver Heights, a Dubai-based property management group and real estate broker, responsible for ensuring the seamless flow of sales and purchase transactions across a vast portfolio of developments. It supports the holistic range of property 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, says, “For us, this is a strategic move to expand into new business and a possible entry into the US real estate market where we could lend our expertise and also gain from the experiences from the US markets. The joint venture ALUBOND USA gives us a platform to explore new avenues and benefit from the opportunities from the growth in new demand.”