Egypt’s leading real estate developers Al Ahly Sabbour and UAE industry giants Eltizam Asset Management Group launch two joint ventures (JVs) “Tafawuq Egypt” and “Three60 Egypt” with a combined value of EGP 2 bn, Invest-Gate, reports.

By signing two JV agreements, the two companies will introduce a premium quality integrated facilities management (IFM) and community management (CM) services to the Egyptian market.

The two contracts separately outlined the terms and services provided by “Eltizam Group’s” affiliates, “Tafawuq Facilities Management” and “Three60 Communities”, to “Al Ahly Sabbour’s” prime properties.

Al Ahly Sabbour CEO Ahmed Sabbour explains, “There’s a rapid increase of large-scale projects across Egypt that’s been taking place over the past few years as part of the government’s 2030 vision. At Al Ahly Sabbour, we believe that implementing the integrated facilities management (IFM) services, can add tremendous value to labor intensive businesses owing to its profound impact on increasing return on investment and reducing facility operating costs, ultimately driving business & economic growth.”

Furthermore, he highlights the significance of bringing a new wave of investments to Egypt during challenging times, stating that “signing the two JVs allows institutions to outsource single-source providers with a proven track record, helping them to lower operating costs while securing premium-quality facilities.”

Under the terms of the joint ventures, “Eltizam’s” services will deliver initially to four of “Al Ahly Sabbour’s” portfolio of mega property projects. As the partnerships progresses, all parties agreed to expand existing terms to cover other high-end real estate developments of Al Ahly Sabbour.

“Tafawuq Egypt” and “Three60 Egypt” will operate in line with “Eltizam’s” commitment to ensure customer satisfaction and achieve growth. Both subsidiaries will utilize the latest technologies for faster and more streamlined operations and higher customer satisfaction.

Eltizam CEO Chris Roberts, says, “This development is a historic milestone for us at Eltizam. Expanding to a market as large as Egypt is a testament to our capability to provide value-added services that meet the highest standards in long-term asset protection. It represents one of our major expansion drives in the region, paving the way for us to showcase our competitive edge and unparalleled technological advantages.”

Affiliate companies of Eltizam, such as “Omnius Estate Services”, “800TEK”, among others, will also be considered to build a robust industry presence and broaden its reach within the country. Roberts adds, “Our key long-term objective is to increase our market share the soonest possible time, with our target being to become one of the top five companies with the biggest revenues in the local industry by 2025.”

Al Ahly Sabbour’s sister-company, The Egyptian Company for Entertainment & Tourist Attractions (ECETA) is also part of both agreements. ECETA is Egypt’s first facilities management company, and has been offering forward-thinking, efficient solutions for business services all over Egypt for 20 years.

Chairman of ECETA Sherif Sultan clarifies, “We are determined to employ our collaborative efforts to magnify the impact these JVs can have on various businesses in both the private & public sectors in Egypt. We see an opportunity in the market for the delivery of high-performing FM and CM services focusing on technical quality standards and customer service. The capabilities and resources of Eltizam and its subsidiaries are suitable to the market’s demands and are projected to add value to an industry that is currently blooming in Egypt.”

In conclusion, Roberts adds, “We are confident that our collaboration with Al Ahly Sabbour will help reshape the landscape and the future of the market in the country as the community explores, taps, and seeks new growth opportunities during and after the pandemic.”

The agreement was signed during a press conference held at the Nile Ritz Carlton hotel as part of “Eltizam’s” game-changing expansion initiative in Egypt and the rest of the Middle East and North Africa (MENA) region.