Eltizam Asset Management Group, a leading physical asset management company in the Middle East and North Africa (MENA) region, has declared a record growth in H1 2019 in accordance with its long-term expansion procedures. Eltizam has detailed about 20 percent growth in revenues for H1 2019 year on year, including growing its property portfolio under management to more than 50,000 units over all territories as well as noteworthy FM contract wins.
Looking into H2 2019, Eltizam is presently in negotiations with multiple potential partners in the UAE and across the extensive 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 elements 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 esteems. 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, stated: “The development that we have recorded in the primary half of this year alone mirrors the surge in demand throughout the UAE for first-class property & owners association management and FM services. Resource owners are progressively 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 notoriety 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 exclusively for mergers and acquisitions in 2019-2020.