Deyaar Development has spun off its facilities management division into a standalone company.
The Dubai-based real estate firm plans to build on the recent growth and success of the division with a new strategic vision and management, it said in a stock exchange filing.
The company will remain 100 percent owned by Deyaar and will complement its property development, property management and owners association divisions.
Deyaar Facilities Management operates a portfolio of over 500 properties and nearly 20,000 units.
Saeed Al Qatami, Chief Executive Officer for Deyaar said: This is a significant milestone we have achieved due to the continued growth and increasing demand for our facilities management services.
This ongoing success is attributable to our consistent commitment to delivering excellent customer service and targeted, smart facilities management solutions.
The transition of Deyaar Facilities Management to a stand-alone company means we can increase our focus on developing our portfolio of services and exceeding our customers expectations.
Leading a team of skilled professionals, Eng. Mohammed AbdulKarim Khamis, has been appointed as General Manager of Deyaar Facilities Management, following a number of successful years with Deyaar.
Deyaar Facilities Management has also recently moved into new premises in Business Bay, home to number of Deyaars property development projects.