GCC-based physical asset management company Eltizam Asset Management Group has inked two joint venture (JV) agreements worth $100m with Egypt-based real estate developer Al Ahly Sabbour Developments as part of its expansion into Egypt and the rest of the MENA region.
The JVs will focus on Eltizam providing the Egyptian market with integrated facilities management (FM) and community management (CM) services through its ties with Al Ahly Sabbour.
The two contracts encompassing four projects, separately outlined the terms and services provided by the Group’s subsidiaries, Tafawuq Facilities Management and Three60 Communities, to Al Ahly Sabbour’s prime properties.
Al Ahly Sabbour’s sister company, Egyptian Company for Entertainment & Tourist Attractions (ECETA), will also be a part of both agreements.
