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United Development Company (UDC) is planning to sell a portion of stake in its wholly-owned arm United Facilities Management to Amwaj Company, a subsidiary of Gulf International Services (GIS).
“Amwaj has showed intention to buy a portion of UDC’s shares of United Facilities Management and it is now carrying out the necessary studies (due diligence),” UDC said in a regulatory filing with the Qatar Stock Exchange.
In the event of mutual consent of the parties to enter into any agreement relating to the acquisition of the shares, it will be disclosed in due course, accordingly, the filing said, without divulging the detail regarding the size of the stake and quantum of money involved.
The core business of United Facilities Management Company, which was incorporated in 2011, is the delivery of integrated facilities management services. Geared initially to service The Pearl-Qatar, it presently manages the master community area of the Pearl-Qatar along with retail and residential assets, notably in Porto Arabia, Medina Centrale, Viva Bahriya and Qanat Quartier.
Range of facilities provided by UDC subsidiary include municipal services, building fabric maintenance, waste management, pest control, helpdesk, building handover and inspections, as well as mechanical, electrical and plumbing system maintenance.
United Facilities Management — which has been certified ISO 9001:2008, ISO 14001:2004 and OHSAS 18001:2007 — provides a single point of contact and taking responsibility for its clients’ property portfolio maintenance and upgrade requirements.
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