Eltizam Asset Management Group and Tamouh Investments have agreed to establish a new company called Tamouh Integrated Business Services (TIBS) focused on offering shared services that will support all subsidiaries within the group. The launch of TIBS will allow the group to accommodate its substantial projected growth in the UAE and Middle East & North Africa (MENA) region, that will be achieved through both organic and mergers and acquisitions (M&A) activity, with the new company also becoming the exclusive internal service provider to all entities under Tamouh’s umbrella.
TIBS will transfer services that are replicated across the group into a new legal entity under a centralized management structure that will benefit each entity by sharing both the funding and resourcing of each service. As part of this transformation, TIBS will provide HR, administration, ERP, IT, procurement and transactional finance services for their existing clients across the Tamouh Group; and will expand its service offerings and provide their expertise to new clients outside of Tamouh. This will result in the company becoming a new business service offering within the Eltizam Group to customers within the UAE and throughout the MENA region in the future.
Derek Nicholson, CFO, Eltizam Asset Management Group, added: “We are delighted to have worked together with Tamouh to establish this new company that will only be an asset in the coming months and years. Like ourselves, Tamouh also believe in providing the highest standard of service to clients and striving for the very best levels of customer satisfaction. Each function in TIBS will support all entities within the group including Tamouh, Eltizam and its subsidiaries and contribute to the growth of all.”
Buthaina Alhammadi, Group Director, Human Resources and Administration, Tamouh Investments LLC, said: “Tamouh’s vision is to develop world-class real estate projects that set the benchmark for large-scale, mixed-use developments in the Middle East and all around the world, ultimately making Abu Dhabi a global centre for excellence in construction and real estate investment. We are extremely proud to have partnered with Eltizam Asset Management Group in launching this new company, which will move us closer to realizing our vision and place an enhanced emphasis on improving overall customer satisfaction and the levels of service provided.”
TIBS will also ensure the continued delivery of high-quality services through the initiation of standard policies and procedures. Integral support functions across the group will be centralized and developed into centers of excellence under the company’s legal entity by adopting the best in class procedures and technology. Service level agreements (SLAs) will be developed for each of the support functions and key performance indicators (KPIs) will simultaneously be implemented to measure performance under the agreed terms of the SLAs.