Emaar Properties has tied up with the UK-based Carillion plc to float a new joint venture, Emrill, that will offer property and facilities management services in the UAE and the region.

Emaar holds a majority 51 per cent stake in the new outfit while the UK-based company with a turnover of $2.8 billion, holds the rest.

The capital of the new company is yet to be finalised and may be announced after its first board meeting to be held soon.

"Our objective in creating Emrill is to deliver asset management service solutions to Emaar, its tenants and to major property companies in the UAE and across the region,' said Armand Robitaille, acting CEO, Emaar properties.

As per the business plan, the new venture will have a modest turnover in the first year of operation but subsequently, it will pull in substantial profits, he added.

"A steady cash flow to Emirill is assured with Emaar's success in the real estate and property business. The company will initially service Emmar clients and others in Dubai and the UAE. It will later spread across the GCC.

"We are in talks with many clients in the UAE to offer our services," Robitaille said.

"Given that the UAE and the Middle East property market, is on a high-growth curve, Emrill, singularly focused on providing value-added services, comes at an opportune time," Robitaille pointed out.

Emaar will transfer all the facility management services, which till now has been subcontracted to Emrill.

Emrill's services on offer include energy management, mechanical, electrical and air conditioning maintenance, space planning, utilities and asset management and building fabric maintenance.

The company will also offer a diverse range of services including cleaning, laundry, housekeeping, security, waste and hygiene management.

Officials of Carillion said that the move to join hands with Emaar is part of the company strategy to diversify business.

"As part of our strategic progress, we have started to export our facilities management skills to all our international operations, which include North America, Caribbean, Europe and the Middle East," said Carillion's director, Roger Robinson.

"Partnership with Emaar will provide a 'strategic direction to the way services are delivered in the region.

"The launch of Emrill in the Middle East comes at very opportune time. The regional property market has grown by leaps and bounds over the last few years. This growth has been especially witnessed in Dubai which has seen a spate of high-tech developments over the last few years," said Robinson.