Business | Property
Dubai Asset hopes to garner 25% of market
Dubai Asset Management, officially launched at Cityscape Dubai onday, hopes to leverage 25 per cent or Dh3 billion of the facilities management market by 2013.
- By Natasha Marrian, Staff Reporter
- Published: 23:26 October 7, 2008
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Dubai: Dubai Asset Management, officially launched at Cityscape Dubai onday, hopes to leverage 25 per cent or Dh3 billion of the facilities management market by 2013.
Chief executive Billy Daly said the Dubai Properties subsidiary is a result of a four-year evolution beginning with Idama Facilities Management, which provides facilities management services.
The four other entities under the Dubai Asset Management umbrella are the Dubai Security group, Emaa Consultancy, Dubai Community Ventures and Baabel Life.
The group deploys its subsidiary companies to support real estate chains, from the developer to the owner and down to the occupier, Daly said.
Staff increases
Idama's 1,200 staff compliment are expected to swell to 3,000 by 2010 with around 150 supply partners. Idama manages over 200 clients including the Dubai International Financial Center, Tecom Investments, Dubai Healthcare City, and Jumeirah Beach Residence.
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Daly said the company hoped to "go beyond the balance sheet" and add value for its customers by providing services that promote the Dubai lifestyle. It also did not depend on real estate trends.
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