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Imdaad reveals AED 60 million investment plan for 2017

Company announces new contract wins and strategic roadmap for 2017

| | Feb 1, 2017 | 9:48 am
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Jamal Abdullah Lootah, CEO, Imdaad

Dubai, UAE: Integrated facilities management company, Imdaad has revealed that it will invest AED 60 million in 2017 to achieve growth via targeted acquisition of local firms. The company, which made the announcement during a press conference on January 31, also unveiled its latest contract wins with industry players and its strategic roadmap for 2017.

Giving details of its acquisitions and achievements in 2016, the company said that it acquired a firefighting company and a lifts, installations and maintenance firm as part of its comprehensive expansion approach to widen its scope and services. The AED 60-million investment plan, the company highlighted, will carry on the objectives of its growth strategy this year. Additionally, the company expects to perform strongly yet again after sealing new deals with key organisations and renewing agreements with top long-time clientele.

The company revealed that its new contracts include a deal with the Islamic Affairs and Charitable Activities in Dubai (IACAD) for the upkeep of all mosques under its mandate, Mashreq Bank, Dubai Parks and Resorts, Palazzo Versace hotel, Lapita Hotel, TECOM, the Dubai Opera house, Be’ah (Oman Environmental Services), Investment Corporation of Dubai (ICD), Nakheel, Wasl, Al Fattan Properties, Kingfield Owner Association Management Services and ENOVA.

Giving an overview of the FM sector, the company said that industry estimates put the GCC regions’s cumulative FM spend at USD 892 billion over the last 25 years, with Saudi Arabia, Qatar and the UAE as leaders. Globally, as per a market research report released by Global Industry Analysts, the FM industry, it added, is seen to be worth USD 394.69 billion by 2017.

“Although the UAE FM industry is still in its infancy when held up against mature markets such as Europe and North America, it is nonetheless accelerating at unprecedented rate,” said Jamal Abdullah Lootah, CEO of Imdaad. “To capitalize on considerable opportunities in the local and regional FM sectors, we at Imdaad are intensifying our efforts to keep up with the latest trends and developments in these markets, especially in terms of technological innovations. For 2017, we have laid out an all-encompassing roadmap that will ensure both exceptional delivery of services to our clientele and significant contributions to the Emirates’ socio-economic prosperity in line with the goals of UAE Vision 2021. With our new agreements and key investment strategy, we are keen on working with all our partners from the public and private sectors to achieve our development objectives.”

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