UAE surge helps Eltizam rack up 20% growth in H1 2019
UAE-based firm optimistic about securing AED100 million in new contracts in H2 2019
Eltizam Asset Management Group has recorded growth of 20% H1 2019 after its property portfolio under management passed 50,000 units.
In a statement, the leading UAE-based asset management firm said growth is coming from the UAE and across its active MENA territories, as it continues to benefit from significant FM contract wins.
The company added that looking ahead to H2 2019, Eltizam is presently in negotiations with multiple potential partners in the UAE and across the wider region – including Egypt, KSA and Kuwait, with new deals likely to be finalised before the end of this year.
“These new projects would see Eltizam entities deliver facility management, community and property management, cleaning and hospitality, utility management, and financial and accounting services, ultimately enabling asset owners to maintain and enhance their property portfolio values. The first of these new projects in H2 2019 will likely see Eltizam expand into North Africa, through the delivery of complete community management services in Egypt,” the statement reported.
Chris Roberts, CEO, Eltizam Asset Management Group, said: “The growth that we have recorded in the first half of this year alone reflects the surge in demand throughout the UAE for first-class property & owners association management and FM services. Asset owners are increasingly aware of the important role that quality maintenance and asset management services play in protecting and enhancing the value of their assets.
“Our client base continues to grow and we see this trend continuing as the group expands both geographically and through a wider portfolio of services in line with its new 5-year strategic plan.”
He added: “The new contracts that we have been awarded further enhance the reputation we have forged with regards to our approach to facilities and community management. We focus on providing value for money and high-quality, uncompromised service delivery that is customized to our clients’ needs.”
Eltizam is looking to acquire companies from multiple sectors across the asset management market within the UAE and throughout the GCC in order to strengthen their position within the regional market. The company has also set aside AED 200 million solely for mergers and acquisitions in 2019-2020.
