Eltizam Asset Management Group sees expansion in Oman, Kuwait and Saudi Arabia through strategic joint ventures and M&A agreements
Eltizam Asset Management Group, a UAE-based asset management company, is looking to acquire companies from multiple sectors including facilities management, owners association management and property management across the Gulf region.
The company said it is assigning a value of AED200 million ($54 million) for mergers and acquisitions (M&A) activity, with expansion in Oman, Kuwait and Saudi Arabia already planned through strategic joint ventures and M&A agreements.
Eltizam said in a statement that it is currently in discussions with a number of companies, with the aim of finalising deals by the end of the year.
Chris Roberts, CEO, Eltizam Asset Management Group, said: “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 AED200 million for M&A will contribute significantly to benefit both our clients and customers.”
Established in Abu Dhabi in 2009, Eltizam Asset Management underwent restructuring into the current group of companies in 2014.
Eltizam Asset Management Group offers services through its subsidiaries Three60 Communities and Tafawuq Facilities Management.For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.