Imdaad sets $27m for acquisitions in 2017-2018 - CEO

The facilities management provider is in talks with three companies
Dubai’s integrated facilities management provider Imdaad is looking to acquire a facilities management company before year-end and has allocated a budget of up to $27 million (AED100m) for growth, the company’s CEO said on Wednesday.
By Tahani Karrar
Thu 26 Oct 2017 09:28 AM

Dubai’s integrated facilities management provider Imdaad is looking to acquire a facilities management company before year-end and has allocated a budget of up to $27 million (AED100m) for growth, the company’s CEO said on Wednesday.

“We are going to require a budget from AED80-100 million for acquisitions for this year and next year. We are looking for something related to facilities management as our client numbers and services provided grow,” Imdaad Group CEO Jamal Abdulla Lootah told Arabian Business in an exclusive interview.

“As we grow, we want our clients to find all their services in Imdaad and to be a one-stop-shop,” he added.

Imdaad is currently in discussion stages with three companies, and is due to select one before the end of the year.

“We are now in end of October, we have two months to close the deal,” said Lootah.

Imdaad is also planning to capitalise on a number of announced megaprojects in Dubai and its growth strategy is not just for the short-term, but the next 30-40 years.

Sustainability will feature heavily in facilities management going forward and so will process efficiency, Lootah said.

The company, which hopes to build a waste segregation plant next year, was accredited by the Dubai Government’s Regulatory and Supervisory Bureau (RSB) for electricity and water as an Energy Services Company (ESCO) this week and was awarded the coveted membership of the Clean Energy Business Council (CEBC).

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Last Updated: Thu 26 Oct 2017 10:42 AM GST

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