UAE - Mubasher: Eltizam Asset Management Group, a subsidiary of International Holdings Company (IHC), has acquired Inspire Integrated in exchange for AED 37 million.
The expansion is part of Eltizam's strategy to expand its real estate, infrastructure property management, facilities management, and project delivery services, according to a press release on Wednesday.
The group's expansion strategy is in line with the UAE property market, forecast to grow at a CAGR of 7.4% between 2021 to 2025 because of foreign investment in real estate and events such as Expo 2020.
The GCEO of Eltizam, Chris Roberts, said: "This strategic move will further enhance our position in the region’s real estate and infrastructure sectors in both property and facilities management services. With our combined portfolios and capabilities, as well as our IoT and AI-enabled solutions, it will ensure service excellence and consistent results that benefit all of our stakeholders."
Meanwhile, the Executive Director of Inspire Integrated, Said Andrew Law, commented: "We believe that being part of the Eltizam Group will enable us to accelerate our business growth and allow us to offer better value for money to both our existing and future clients."
