Business | Investment

Serco acquires Mubadala subsidiary

Serco announced the acquisition of JBI Properties Services Company LLC (JBI), to meet the increasing demand for complex facilities management services

  • Staff Report
  • Published: 15:39 December 29, 2011
  • Gulf News

Dubai Serco announced the acquisition of JBI Properties Services Company LLC (JBI), to meet the increasing demand for complex facilities management services.

Prior to the sale, JBI, which specialises in integrated facilities management services, was a wholly owned subsidiary of Mubadala Development Company PJSC.

The acquisition will build on Serco's existing Facilities Management capabilities in the UAE which include the successful operation of Dubai Metro stations and depots, the UAE University in Al Ain and New York University currently being built on Saadiyat Island in Abu Dhabi.

JBI has over 130 staff members located across various sites in Abu Dhabi. The company manages iconic, grade A mixed use commercial property and educational facilities. The customer portfolio includes numerous Government agencies in the Emirate of Abu Dhabi, and sites include Zayed University, Paris Sorbonne University, New York University and Sowwah Square. Services provided include estate management, IT services, waste management, procurement, mechanical and electrical maintenance, help desk and life cycle asset management.

Zafar Raja, CEO of Serco Middle East said: "We are delighted to strengthen our FM capabilities, extend our local expertise to new markets across the Middle East and deepen our long-standing business relationship with Mubadala Development Company."

"We have had a long history of working with governments and the private sector similar to JBI's existing client base, and we can also bring to them Serco's global knowledge and proven management capability," added Raja.

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