June 6, 2007—Istithmar, which is a part of the Dubai World Group, announced the launch of its new business initiative, Imdaad, which will be responsible for the management of its commercial, residential and industrial facilities across the Group’s various business interests.
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 will provide consultancy and strategic FM services to several Dubai World Business Units, including DP World, JAFZA, Nakheel, Limitless, Dubai Waterfront, and Istithmar itself, says the company.
In the longer term, Imdaad will target commercial opportunities outside the Group in the public and private sectors.
Imdaad plans to establish operational offices and workshops throughout the Emirates, with its head office in Jebel Ali. For more information, see the Web site.
