Eltizam Asset Management Group sets aside AED 200 million for mergers and acquisitions in 2019-2020
Eltizam Asset Management Group, a leading physical asset management company in the GCC, is looking to acquire companies from multiple sectors including Facilities Management, Owners Association Management and Property Management within the country and throughout the GCC in order to further enhance their position within the regional market.
The company has demonstrated its intentions to fulfil this vision by assigning a value of AED 200 million for M&A (mergers and acquisitions) activity, with expansion in Oman, Kuwait and Kingdom of Saudi Arabia (KSA) already planned through strategic JV’s and M&A agreements. Eltizam is currently in discussions with a number of companies, with the aim of finalizing deals by the end of the year.
Chris Roberts, Chief Executive Officer, Eltizam Asset Management Group, said: “As a leading provider of strategic management services, we want all services that our clients may seek to be available with Eltizam – essentially allowing us to not only control the asset but also protect the asset to ensure its managed and maintained in line with best practice, this, in turn, allows us to enhance the asset and reduce the overall cost base providing much better returns to investors in any asset class. We believe this significant value of AED 200 million for M&A will contribute significantly to benefit both our clients and customers.” Eltizam sees M&A as the natural strategic next step, in order to further expand its service platform which is underpinned by strong service excellence, operational standards and technology pillars, while leveraging robust shared services that joining entities will be able to benefit from.
Chris added: “This strategic move will also bring us closer to our mission of achieving exceptional customer happiness in an engaging, safe and secure environment; sustainably delivered through innovative tech solutions by our trusted and talented professionals and partners. Ultimately, we are constantly working to ensure we maintain a strong customer service ethic and continue to fulfill our commitment to achieve customer happiness and to bring life to the communities and assets which we serve.”
Established in Abu Dhabi in 2009, Eltizam Asset Management underwent restructuring into the current group of companies in 2014. This was done to better serve clients with an improved integrated selection of real estate services and to expand throughout the region.