Istithmar launches new facility management company Imdaad

The move follows Istithmar's successful negotiations with Serco International Ltd, for the purchase its 49 percent stake in Serco Gulf LLC, thus effectively bringing to a close their existing joint-venture partnership in the Facilities Management Sector.

Under its new brand identity as Imdaad, the company focus on the provision of both Consultancy and Operational Strategic Facility Management Services to several prestigious Dubai World Business Units, including DP World, JAFZA, Nakheel, Limitless, Dubai Waterfront, and Istithmar itself.

In the longer term, Imdaad will target commercial opportunities outside the Group in the public and private sectors.

Serco International will retain its presence in the Region with a focus on Aviation and Transport.

Sultan Ahmed Bin Sulayem, Chairman, Dubai World, said: "We wish the new company every success in its future endeavours. We are confident that it will raise the benchmarks in the facility management industry."

Ahmed Butti Ahmed, Chairman, Imdaad Board, said:
"Imdaad will ensure the delivery of the best services to our clients and their customers in the most efficient manner possible."

Jamal Abdullah Lootah has been appointed the Chief Executive Officer of Imdaad and will be in charge of the overall management of the Company's business activities, its future projects, as well as developing its strategic vision.

Mr Lootah brings with him 16 years of experience within the Group and has contributed substantially towards the growth of various departments like Shared Services Security, General Administration and Human Resources.

Commenting on his new appointment, Mr Lootah said: "Facility Management is an extremely competitive business in this part of the region and we at Imdaad are committed to provide the safest and most healthy environment for the users of the facilities, in addition to focusing on the delivery of cost effective and energy efficient technical solutions for the owners of the real estate assets."

"With our extensive experience in handling projects of such magnitude in the past, we are confident that we will have a major influence on improvements in service standards in the facilities management industry both locally and across the region."

Imdaad plans to establish operational offices and workshops throughout the Emirates, with its head office in Jebel Ali.