Aldar, IHC, and ADNEC Group create region’s largest property and facilities management company

Aldar, IHC, and ADNEC Group create region’s largest property and facilities management company

Eltizam Asset Management Group, jointly owned by IHC and ADNEC Group, will merge with Aldar Estates Aldar will hold a majority stake and retain control of Aldar Estates with the remaining shareholding held equally between IHC and ADNEC Group The merger will see Aldar Estates become a national champion in property and facilities management with potential for further expansion across the region The transaction adds considerable weight to Aldar Estates, taking its portfolio of residential units under management from 77,000 to approximately 135,000 Abu Dhabi, UAE: Aldar Properties PJSC (‘Aldar’), International Holding Company (‘IHC’), and ADNEC Group have announced that they will merge their jointly owned property and facilities management businesses within the Aldar Estates platform. The merger will see IHC and ADNEC Group (a subsidiary of ‘ADQ’) become strategic shareholders in Aldar Estates, with Aldar retaining a majority stake and control of the combined platform. As part of the agreement, Eltizam Asset Management Group (‘Eltizam’), a leading property and facilities management services company across the GCC and jointly owned by IHC and ADNEC Group, will join the Aldar Estates platform. Over the past 12 months in particular Aldar Estates has broadened its suite of services, while adding significant scale