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Imdaad Eyes 30pc Growth in 2009

DUBAI - Imdaad, an integrated facilities management company fully-owned by Dubai World, is seeing continued growth despite the economic slowdown and expects revenue growth of 30 per cent this year.

“For 2009, we expect our business to grow by 30 per cent, that is the minimum. By 2010, we are looking at a higher growth as we expand our business outside the UAE,” Ali Hassan Al Suwaidi, Imdaad executive director for operations told Khaleej Times.

Last year, Imdaad posted a net profit of Dh50 million with revenue reaching Dh200 million.

Imdaad which provides facility management to high-end clients across the Dubai World Group, including Palm Jumeirah, The Gardens, Atlantis, the Palm, International City, Jebel Ali Port and Free Zone, Ibn Batuta Mall, and Dubai Maritime City, is planning to expand in Abu Dhabi and in key countries in the Gulf Cooperation Council.

“We are in various stages of negotiations that would allow us to expand in Abu Dhabi, Qatar, Bahrain and Jordan,” said Al Suwaidi.

Al Suwaidi said that inspite of the crisis that has pummeled the property sector, developers continue to 
seek Imdaad’s services.

Imdaad’s services include among others, a 24-hour help desk, waste management, pest management, sewage services, energy management and general building maintenance services.

“Before the crisis, developers just thought of building, but now with the ongoing crisis, they want to maintain the quality of their buildings and prolong the life cycle of these properties, that’s where we come in,” 
said Al Suwaidi.

With property prices and rents plunging from their peak in September, customers have more choices at more affordable levels. This is where the better developers have the 
advantage, said Al Suwaidi.

“The hard fact is that there is less demand. The guy who wants to live in a community is now looking for the best maintained building that would give him his money’s worth. With supply outstripping demand, customers are in a good position to 
demand value-added services.”

Al Suwaidi believes this will accelerate demand for integrated facility management services in the country, as well as in the region where some UAE developers are setting their eyes on.

“The crisis is forcing many developers to view things from a cost-efficient perspective. They are now looking at having just one company track all of their systems to ensure their buildings are run efficiently. This results in huge savings for them in the long run.”

rocel@khaleejtimes.com