Eltizam Asset Management Group to invest USD5mn in ‘next-generation property technologies’

Eltizam Asset Management Group to invest USD5mn in ‘next-generation property technologies’
Published: 22 May 2019 - 5 a.m.

Eltizam Asset Management Group has announced that it will invest USD5mn in ‘next-generation property technologies’ over the next three years in a move to further solidify its presence in the regional market and accelerate its Vision 21 Business Transformation program.

TafawuqFacilities Management, a subsidiary of Eltizam Asset Management Group and a leading provider of integrated FM services, recently deployed its state-of-the-art mobility maintenance solution “Tafawuq GO”, which has already seen key operational processes go paperless. During Q2, the company will launch another mobility solution, “Asset Check”, aimed at quality control of maintenance operations.

Chris Roberts, chief executive officer, Eltizam Asset Management Group, said: “Facilities management has evolved from simply managing buildings to delivering a delightful experience. Now empowered with technology, facility teams have shifted their focus from cost centric services towards creating value-driven services. There is a lot more room for sector improvement and growth within the GCC, and we anticipate more business from a diverse but discerning client base as the industry continues to mature and catch up with best practices seen globally.

“The UAE is leading the way in the smart transformation and construction of cities, and we at Eltizam are working continuously to remain at the forefront of these developments. The technology transformation will bring us closer to our mission of achieving exceptional customer happiness in an engaging, safe and secure environment through the delivery of innovative solutions by our trusted, talented professionals.

“Eltizam will be taking full advantage of opportunities such as Expo 2020 to provide expertise, build clientele and reach out to a broader audience. Whilst doing so, we will be fully utilizing the latest innovative technology to provide and receive the very highest standard of service and customer satisfaction,” he said.

Analysts from Eltizam Asset Management Group have projected continued robust growth in the facilities management (FM) market in the Middle East in 2019.

Growth will be primarily be observed countries that have a growing pipeline of government-backed infrastructure projects, such as Saudi Arabia, Egypt and the UAE.

Some of the upcoming projects in these regions include the Expo 2020 project in UAE, the Neom and Red Sea Tourism projects inSaudi Arabia, and new urban centre developments across Egypt.

According to a recent research report by Technavio, the FM market in the Middle East will deliver a CAGR of more than 11% during the period 2019-2023. In addition, the Middle East’s FM services market size will grow by approximately USD 29.9bn during the same period.

Due to the growing market and the need for companies to deliver better services to stay ahead of competition, technology is emerging as a key differentiator for leading FM service providers.

“The UAE has seen a boost in the construction industry in recent years as part of preparation for the upcoming Dubai Expo 2020 – the first to be held in Middle East. The monumental event promises to be a vital platform for the UAE and the entire GCC to showcase its innovative solutions, services and practices for more efficient, economical and eco-friendly facilities management. Eltizam anticipates that the market will continue to benefit from robust growth in the coming years – highlighting sustained business streams from buildings that have already been developed, as well as the positive market influence of unique platforms like Dubai Expo 2020,” a press release stated

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