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Qatari investment company Estithmar Holding has expanded its global footprint, as it sets up a new company in Jordan.
The publicly listed company, through its subsidiary Elegancia Facilities Management, has established Mina Facilities Management in Jordan, according to a statement on Thursday. The new business is in partnership with the Jordanian company Total Care Facilities.
Estithmar, which recently announced multibillion-dollar deals, looks to expand its presence overseas.
“The establishment of this company is in line with Estithmar Holding’s international business expansion plan and its commitment to increase shareholder value,” the statement said.
Last June, Estithmar announced it had signed three deals worth $7 billion with Iraq’s National Investment Commission for several projects, including new cities and five-star hotels. The MoUs also include the management and operation of several hospitals in Iraq.
Estithmar has a portfolio of 51 companies operating in the healthcare, services, ventures and contracting sectors, among others. Elegancia Facilities Management has more than 3,000 employees.
(Writing by Cleofe Maceda; editing by Seban Scaria)
