UAE’s Eltizam sets aside $55m for mergers and acquisitions in the real estate space
Abu Dhabi-based asset management firm is in talks with three companies to secure further opportunities within the industry
Eltizam Asset Management Group, an 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 set aside $54.45m (AED200m) 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 finalising 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.”
The firm feels that M&As are the best step in order to further expand its service platform.
Chris added: “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 a restructure into the current group of companies in 2014.