International Finance
Real Estate

Eltizam launches end-to-end property management services in MENA

Eltizam property management_IFM_Image
The launch is in line with Eltizam’s plan to become a leading player in the region’s asset management space

Asset management company Eltizam Asset Management has launched Omnius Estate Services, a technology-powered end-to-end property management services in the Middle East and North African (MENA) region, the media reported.

The launch of the property management services by Eltizam is in line with the company’s plan to become a leading player in the region’s asset management space.

Omnius Estate Services has its office in Abu Dhabi and Dubai, according to the media.

With regard to the launch of the new property management services, Eltizam chief executive officer Chris Roberts told the media “Omnius provides asset owners with comprehensive and integrated property management services set to globally recognized standards and the best industry practices.”

“The team comprises of global professionals who have both local and regional market experience and are committed to delivering top level value to their clients involved in residential, commercial, and mixed-use real estate developments,” he added.

Dubai’s real estate sector has witnessed the completion of around 14000 residential units during the first six months of this year, despite Covid-19 crisis, the media reported.

This is about 30 percent of the units that are scheduled to be handed over in 2020.

According to ValuStrat Price Index (VPI) report, second-quarter residential home sales transactions accounted to 4,459 units, down 48.8 percent quarter-on-quarter and 39.3 percent year-on-year with a value of Dh7 billion and an average ticket size of Dh1.57 million.

Sales volume in the Abu Dhabi real estate market is expected to pick up during the second half of the year, global real estate services firm Chestertons revealed in the month of July.

In a report, Chestertons revealed that sales volume are expected to pick up as developers in the Abu Dhabi real estate market will provide lucrative incentives to potential buyers.

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