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The UAE-based Eltizam Asset Management Group is planning to expand to Saudi Arabia and Bahrain by the end of the year, a top company official said
Chief Operations Officer Mohammed Alsharaf told Zawya Projects that the physical asset management company is currently managing more than 100,000 facilities in the UAE, Egypt, and Oman representing nearly $35 billion worth of investments.
The company saved more than $8 million for its clients in 2020 by employing smart technologies and innovations in its services, AlSharaf said on the side lines of Akhbar El Youm Real Estate Conference in Cairo.
In December last year, the company had signed two joint ventures with a combined value of $100 million with Al Ahly Sabbour Development to provide high-end facility management and community management services in the Egyptian market.
AlSharaf said the company is also negotiating with other Egyptian developers for partnerships.
In March 2021, Eltizam had announced the acquisition of Dubai-based Fixis to expand and diversify its facilities management portfolio and increase the group’s revenue by up to $40 million.
(Reporting by Eman Hamed; Editing by Anoop Menon)
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