Abu Dhabi's Aldar, IHC, ADNEC to merge property and facilities management business units
IHC and ADNEC Group to bring Eltizam Asset Management under Aldar Estates
Dubai: Three of Abu Dhabi’s biggest organisations – Aldar, IHC and ADNEC – are merging their property and facilities management operations under the Aldar Estates banner.
As part of the agreement, Eltizam Asset Management Group – which is jointly owned by IHC and ADNEC Group - will join Aldar Estates Over the past 12 months, the latter has widened its services while ‘adding significant scale to Provis and Khidmah’, the business units that it operates.
Aldar will retain a majority stake in the combined platform.
Aldar Estates had in recent months been on a buying spree, having completed the acquisition of Basatin Landscaping Services, which complemented the acquisitions made in 2022 of Spark Security Services, Mace Macro Technical Services, Pactive Sustainable Solutions, and SAGA International Owner Association Management Services.
The expanded platform will manage around 135,000 residential units, prime retail and commercial spaces with a gross leasable area of more than 1 million square metres, and existing facilities management contracts valued at about Dh2.5 billion.
Aldar Estates will ‘target new strategic opportunities, solidifying its leading position in the region’s property and facility management industry’.
Overseas reach
Founded in 2009, Eltizam's network extends to Saudi Arabia, Egypt, and Oman, apart from the home market of the UAE. Eltizam’s portfolio of businesses includes Colliers, Kingfield, Inspire Integrated, 800TEK, OrionTEK, and PropEzy.