UAE-based International Holding Company’s (IHC) subsidiary Eltizam Asset Management Group has acquired Inspire Integrated for $10.07 million (Dh37 million) in order to extend its infrastructure property management, real estate, project delivery, and facilities management services.
According to the statement, the acquisition is part of the firm’s expansion policy. Additionally, Inspire Integrated will continue its operations under its current name. Dubai-based Inspire Integrated engages in facilities management, infrastructure, and real estate services, as well as project delivery solutions.
Mr. Chris Roberts, Group CEO of Eltizam commented, “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.”
The Group’s expansion strategy is in line with the UAE property market, which is predicted to rise at a Compound annual growth rate (CAGR) of 7.4 percent from 2021 to 2025 as a result of foreign investment and events like Expo 2020.
We are confident that through this acquisition Inspire Integrated will have access to a wider breadth of talent, support, and expertise to advance our service capability. 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, remarked Mr. Andrew Law, Executive Director at Inspire Integrated.
According to the company statement, Inspire Integrated will offer seamless services to its customers as well as community, joining a diverse group of firms that includes Tafawuq and Fixis FM, as well as Three60 Community Management, Omnius Real Estate Services, 800TEK Maintenance Company, and OrionTEK Innovations.
IHC, which is listed on the Abu Dhabi Securities Exchange, plans to expand its portfolio through mergers and acquisitions as well as strategic investments in a variety of industries and sectors, such as real estate, agricultural, healthcare, food and beverage, and so on.