(MENAFN- Khaleej Times) The new joint venture with LMD will provide services across Egypt through leading developers, corporate clients to number of sectors including hospitality and retail. Supplied photo by A Staff Reporter
Published: Wed 22 Jun 2022, 6:28 PM
Last updated: Wed 22 Jun 2022, 6:31 PM
Imdaad, a Dubai-based group of companies that provides integrated, sustainable facilities management services that enhance operational efficiencies of physical assets, has officially established a new joint venture with LMD, Egypt's fast-growing developer of premium-quality real estate, to deliver a full range of world-class Facility Management solutions throughout the whole of Egypt.
Based in New Cairo, the joint venture will provide services across Egypt through leading developers, corporate clients, a number of sectors including hospitality and retail, and LMD's portfolio of projects. This will include international standard FM solutions to tenants and customers across all these prestigious locations. The agreement will leverage Imdaad's expertise to deliver a variety of hard and soft services to enhance the quality of life for residents.
“Our communities are expertly designed with people and the future in mind, somewhere not just to live but to thrive” said Amr Sultan, CEO LMD.“On the other hand, sustainability, consistency, and value creation are deeply woven into every aspect of our business. That is why we joined forces with Imdaad, who shares our values and commitment, to offer a package of unprecedented facility management solutions in the Egyptian market, making advantage of our excellent pool of expertise and product/service portfolios.”
With a focus on creating value and driving improved standards within the local market, the joint venture is set to reduce operational costs of buildings in the long term by protecting and enhancing FM asset life. Imdaad aims to employ more than 2,000 employees in Egypt by 2026 and is looking to expand further as it consolidates its position within the local market. The key focus in the initial phase will revolve around developing engineering and soft service roles, with additional opportunities to be created in management, support services, and administrative support.
The joint venture was announced during a special signing ceremony in The View, at Palm Dubai, in the presence of Abdul Latif Almullah, chairman of Imdaad's Board of directors, Jamal Lootah, Group CEO of Imdaad, and Mahmood Rasheed Group COO of Imdaad, together with LMD delegation Amr Sultan co-founder and CEO of LMD, and Mohamed Mubarak Group Investment Manager.
Lootah said:“We are delighted to team up with a distinguished partner such as LMD as we embark on the next chapter of Imdaad's strategic growth. The Egypt market offers many exciting opportunities as we look to further strengthen our global footprint and deliver integrated FM solutions of the highest quality across LMD's portfolio. We look forward to working closely together to elevate standards in the local industry and establish Imdaad as the trusted provider of choice for customers in Egypt and the wider region.”
Building on its proven track record, Imdaad is poised to become a leading IFM provider in Egypt through the new joint venture, which is projected to begin operations in Q3 2022. The group plans to further enhance its services within the country over the mid to long term by offering existing tailored services through its business divisions, variety of services through its Environmental Services division, firefighting services through its Vision Safety division, and elevator and escalator services through Nigma.
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