Mitsubishi Electric Corporation announced that it has finished buying all the shares of AG MELCO Elevator Co. L.L.C. This company, based in Dubai in the United Arab Emirates, was previously an affiliated elevator company of Mitsubishi Electric.
The shares were purchased from Rawafed Almustaqbal Group L.L.C., which is fully owned by Al Ghurair Investment L.L.C. With this purchase, AG MELCO Elevator is now a wholly owned subsidiary of Mitsubishi Electric.
Mitsubishi Electric, along with its Tokyo-based subsidiary Mitsubishi Electric Building Solutions Corporation, is working to strengthen its business in elevator maintenance and upgrades. They expect higher demand in the building systems sector, which is one of Mitsubishi Electric’s main areas for future growth.
This agreement is an important moment in the long and successful partnership between Mitsubishi Electric and Al Ghurair Investment. Their relationship goes back more than 50 years, starting when AG MELCO Elevator was founded in 1975.
Over the decades, AG MELCO Elevator has earned a strong reputation for its services. The company mainly operates in the Middle East but has also expanded into regions such as South Asia, Africa, and Central Asia.
This long partnership has helped deliver high-quality elevator solutions, build strong client trust, and develop deep technical expertise—especially in maintaining and renewing elevators from multiple brands.
With this acquisition, Mitsubishi Electric and Mitsubishi Electric Building Solutions plan to combine their management resources. This will help them make decisions faster, improve operations, and strengthen their competitiveness in the Middle East and other global markets.
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