Eltizam Asset Management Group has announced record growth in H1 2019 in line with its long-term expansion strategies. Eltizam has reported 20 per cent 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 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. 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 firstclass property and 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 five year strategic plan.”
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.