|23 July, 2019

Eltizam Asset Management Group registers 20 percent growth in H1 2019

Senior officials from UAE-based company also optimistic about securing AED 100 million in new contracts in H2 2019

Eltizam Asset Management Group registers 20 percent growth in H1 2019

EltizamAsset Management Group, a leading physical asset management company in the Middle East and North Africa (MENA) region, has announced record growth in H1 2019 in line with its long-term expansion strategies. Eltizam has reported 20 percent growth in revenues for H1 2019 year on year, including growing its property portfolio under management to more than 50,000 units across all territories as well as significant FM contract wins.

Looking into 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 finalized 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.

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.

-Ends-

Eltizam Asset Management

Eltizam Asset Management Group, one of the leading physical asset management companies in the UAE, provides best-in-class asset management services to clients across a wide range of industries and sectors. The company offers holistic services through its subsidiaries Three60 Communities and Tafawuq Facilities Management. Tafawuq Facilities Management coordinates and oversees the maintenance of all facilities and delivers tailored solutions to suit clients’ needs. Three60 Communities provides community and property management solutions and a full spectrum of community management activities. Three60 Communities also offers its services through Three60 Leisure, Three60 Energy, and Three60 Real Estate, while Tafawuq Project Services operate under the umbrella of Tafawuq Facilities Management.

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