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Istithmar launches Imdaad

DUBAI — Istithmar, a part of Dubai World Group, yesterday launched Imdaad, its new business initiative tasked to manage the Group's commercial, residential and industrial facilities.

"We wish the new company every success in its future endeavours," said Sultan Ahmed bin Sulayem, chairman, Dubai World. "We are confident that it will raise the benchmarks in the facility management industry."

In a statement, Istithmar said the launch came after its successful negotiations with Serco International Ltd regarding the purchase of a 49-per cent stake in Serco Gulf LLC. It said that Serco International would retain its regional presence with a focus on aviation and transport. Under its new brand identity Imdaad, Istithmar will focus on consultancy and facility management services of Dubai World's business units, including DP World at Jebel Ali Free Zone, Nakheel, Limitless and Dubai Waterfront.

"Imdaad will ensure the delivery of the best services to our clients and their customers in the most efficient manner possible," said Ahmed Butti Ahmed, chairman, Imdaad Board.

The statement said that Jamal Adbullah Lootah has been appointed CEO of Imdaad and would be in charge of the overall management of the company's business activities, its future projects, as well as developing its strategic vision. "With our extensive experience in handling projects of such magnitude in the pat, we are confident that we will have a major influence on improvements in service standards in the facilities management industry both locally and across the region," Lootah said.