By: Amr Adel

Dubai – Mubasher:  Imdaad, a Dubai-based facility management company, announced that it appropriated AED 100 million to finance new acquisitions in 2017, according to the company’s CEO Jamal Lootah on Monday.

Currently, Imdaad is negotiating with three companies specialised in the services and systems related to the integrated facility management, and it will acquire one of them by the end of the year, Lootah said in a press conference.

The company targets doubling its annual revenues within the coming three years to AED 1 billion, from AED 550 million last year, Lootah added, noting that it also aims to achieve 10% to 15% annual growth.

The facility management sector is expected to see AED 24.34 billion in revenues by 2022, from AED 13.5 billion in 2017, according to a research conducted by Imdaad.

Translated by: Mohammad Shokhba