Brand View: Eltizam has expanded from managing 14 buildings to 155, from 300 units to 44,000, and is planning to expand to Saudi Arabia, Oman, Kuwait and Bahrain - having begun from one location in the UAE
The asset management industry has witnessed unprecedented diversification over the last decade and its ability to invigorate itself is now more important than ever before.
There are several contributing factors as to why physical asset management has become a prominent aspect of management activities. Globalization and increasing competition, growing financial safety and environmental risks, and turbulence in the market are all common reasons.
Pressure for higher returns on assets, to improve added value of maintenance and alteration in attitude towards physical assets – mean that it is now a regular occurrence that ownership length is not the same as the length of the whole item life. The total assets under management by fund managers in the GCC, a region which accounts for about a third of the world’s proven oil reserves, are projected to rise to USD 110.9 billion in 2020.
There is an enhanced emphasis on the management of valuable assets in this era of competition due to the increased private sector involvement in infrastructure provision. A performance-oriented asset management strategy is central to all asset management approaches and infrastructure asset management responsibilities are now numerous and complex. Ultimately, Eltizam operates on the principal of “bringing life to assets”.
Along with its subsidiaries, the company jointly provides integrated asset management solutions across a wide range of industries and sectors. The aim is to accomplish this by controlling, protecting and increasing return on investment.
The GGC region has seen significant economic and demographic changes in the last 10 years and alongside a rise in per capita income, this has led to a rise in demand for residential units. Furthermore, the growing tourism industry and additional construction projects within GCC countries has catapulted the growth of the region’s asset management market.
Despite discussions regarding the region’s economic status, the sector continues to evolve in scale and maturity and the growing demand for FM services is more essential than ever as major infrastructure developments continue to increase.
“We identified the importance of innovation and technology to remain ahead in the industry a long time ago and we understand the concept. By consistently delivering new innovative solutions, we have achieved unparalleled success throughout the duration of the past 10 years,” said Chris Roberts, CEO, Eltizam Asset Management Group.
"On the tenth anniversary of our inception, we are proud to highlight our achievements and success. The aim moving forward is to build on the foundations that we have established as we look to develop and grow further in the coming decade and beyond.”
Eltizam Asset Management Group has made a resounding impression on personal and professional environments within communities, the public sector and businesses throughout the region within this timeframe through its passion to innovate.
Now established as the leading physical asset management company in the GCC, its growth has resulted in regional and international recognition through numerous awards and certifications.
The company has evolved into a positive cash business, now managing assets worth in excess of AED 60 billion. Further emphasizing its expansion; the group now employs 1400 people after starting out with just 140 and revenues have increased from AED 20 million and is forecasted to surpass AED 500 million by 2021 as a direct benefit from the company’s ambitious Vision 21 program.
In addition, Eltizam has expanded from managing 14 buildings to 155, 300 units to 44,000, and is planning to expand to Saudi Arabia, Oman, Kuwait and Bahrain – having begun from one location in the UAE.
Eltizam is dedicated to giving employees the opportunity to progress within the company and nurturing them to realise their full potential. Eltizam conducted around 100 staff trainings in 2018 and had over 1000 trained employees, 75 percent of the total staff. Looking ahead to 2019, the plan has been restructured to meet the business requirements for the Group, with a new management program developed as part of the training plan.
As the company looks to the future, management recently announced development programs to fulfill their commitment to employees including Leadership Executive Training by INSEAD and MBA programs from Swiss Business School.
Chris Roberts, CEO, Eltizam Asset Management Group, said: “We truly believe that growth can only be achieved with a clear focus on the continued development of the skill sets and processes of our employees. We have adhered to this formula for a decade and it has proven to enhance customer happiness and operational efficiencies. Based on this fundamental framework, we have recently launched an exclusive new training centre dedicated to enhancing the skill set and knowledge of our employees through both theoretical and practical continuous learning. This is very much reflective of our resolve to materialise this vision.”
Deployed in 2017, Vision 21 is Eltizam’s five-year Business Strategy Programme that was developed with the aim to transition from a growth company to a customer company. The management of Eltizam operates on the belief that sustainable business growth can only be achieved by focusing on the development of its people and processes (organizational development), customer happiness and safeguarding operations efficiency. These are core themes formed the basis of the Vision 21 initiative.
In line with this, Eltizam recently announced the investment of USD 5 million in next-generation properties technologies over the next three years to solidify its position in the market, safeguard momentum and accelerate the Vision 21 program. Simultaneously, the company revealed the launch of Tafawuq GO – a new maintenance mobility solution that will initiate a substantial reduction in paper use and printing cartridges to accommodate the company’s technology investment program, innovation agenda and environmental goals.
The UAE is leading the way in the smart transformation of cities and using technology to manage the built environment and ultimately make them smarter. Elitzam has further MENA expansion plans in place, identifying the importance of innovation and technology and therefore consistently delivering through innovative solutions and technological developments in line with Vision 21.
A fundamental strength of Eltizam is that the company is also an asset lifestyle solution provider in addition to asset management, through its subsidiaries Three60 Communities and Tafawuq Facility Management. Three60 Communities provides community and property management solutions and a full spectrum of community management activities.
Through subsidiaries, including Three60 Leisure, Three60 Energy and Three60 Real Estate, Eltizam provides an integrated asset management solution which is unique in the region – bringing life to any and all assets. Tafawuq Project Services also operate under the umbrella of Tafawuq Facility Management and are responsible for coordinating and overseeing the maintenance of all facilities and delivers tailored solutions to accommodate the expectations of clients.
“We are a reliable and committed partner in providing sustainable and strategic physical asset management solutions to our clients and customers. We constantly focus on business model evolution and this differentiates us from our competition. We partner with clients with a clear objective that we meet without fail – deliver the best quality services and value for money,” Chris concluded.
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