Dubai, UAE – DUBAL Holding - the investment arm of Dubai Government with focus on Non-Ferrous Metals, Recycling, Energy & Industrial Sectors - and Imdaad, a Dubai-based group of companies that provides integrated, sustainable Facilities Management (FM) services that enhance operational efficiencies of physical assets, signed a Memorandum of Understanding (MoU) to explore and invest in projects aimed at fostering Recycling and Sustainability sector in UAE.
Jamal Abdulla Lootah, Group CEO of Imdaad, and Ahmad Hamad Bin Fahad, CEO of DUBAL Holding LLC, signed the agreement at a ceremony held at Dubal Holding office at Dubai Healthcare City on 20 October 2022.
Under the MoU, DUBAL Holding and Imdaad will establish a cooperative institutional framework to examine new initiatives for environment friendly projects in UAE, including co-investing and development of such projects to support Dubai Government’s Sustainability initiatives.
Commenting on the partnership, Jamal Abdulla Lootah, Group CEO of Imdaad, said: “As a facilities management industry leader setting benchmarks in service excellence, product innovation, and community development, Imdaad has a stellar track record in working toward sustainability through eco-friendly offerings and practices as well as various efforts to raise environmental awareness. We seek to further this commitment through our new partnership with DUBAL Holding building on our long-standing relationship. The new wide-ranging waste treatment, recycling, and energy recovery projects planned at our FARZ facility will contribute to the UAE’s sustainability efforts and green development goals in line with the UAE Circular economy Policy, Integrated Waste Management Strategy 2021-2041, and Dubai Clean Energy Strategy 2050.”
Ahmad Hamad Bin Fahad, CEO of DUBAL Holding LLC, said: “At DUBAL Holding, we are always working to foster sustainable technologies in order to facilitate the UAE’s ambition to achieve a circular economy. This MoU is an important step that comes as part of our efforts to explore new avenues which will boost the nation's economy and overall development in the sustainability sector. By partnering with Imdaad, we aim to assist Dubai in its objective of sending zero waste to the landfills by 2030. Furthermore, this collaboration is in line with our commitment to evaluate and fund initiatives and projects that help achieve Dubai Industrial Strategy 2030 and Dubai Energy Strategy 2050, positioning the Emirate as one of the leading in this emerging field, globally.”
Imdaad is a Dubai-based group of companies that provides integrated, sustainable facilities management services that enhance operational efficiencies of physical assets. Established in 2007, the company is headquartered in Dubai with site offices and branches across the UAE, including Abu Dhabi. Imdaad's suite of complete turnkey solutions includes Integrated FM, Hard FM, and Home-Pro, as well as Environmental Services such as solid waste and wastewater management and power rentals. In addition, Imdaad’s intelligent platform for facilities management, Imtedaad, provides real-time insights on the performance and trends of interconnected assets and ecosystems to offer recommendations for predictive maintenance and corrective actions. Owing to its personalized business model that is based on providing cost-effective and sustainable services, Imdaad has grown to become the partner of choice for customers within the UAE and across the GCC. The company's multi-cultural workforce comprises 9,000 skilled employees, representing over 45 nationalities. For more information, please visit www.imdaad.ae.
About DUBAL Holding LLC (DH):
DUBAL Holding LLC (DH), established in 2014, is an investment arm for ICD to invest in the fields of Non Ferrous Metals, Recycling, Energy & Industrial Sector. DH’s current portfolio of assets include 50% stake in Emirates Global Aluminium (EGA), 60% stake in OSE Industries LLC, a minority stake in Dubai Waste Management Centre Project in Dubai, and a minority stake in Sinoway Carbon - a Calcined Petroleum Coke facility based in China