Provis, a full-service real estate company fully owned by Aldar Estates, has won the Property Management Company of the Year award during the 15th edition of Facilities Management Middle East (FMME) Awards 2022 held recently in Dubai.
The recognition was for delivering on its operational and geographical expansion strategies, utilising technology to enhance customer experiences, making the business and communities under its management more sustainable and maximising shareholder value, said a statement from Provis.
The FMME Awards have become one of the most respected platforms that recognise excellence in the real-estate services sector across the GCC.
In its 15th edition, the awards this year received a record number of nearly 200 nominations across different categories and brought together all major players in the industry.
On the top honour, CEO HP Aengaar said: "Through strategic acquisitions and growing our in-house capabilities, Provis offers the property market a one-stop-shop for all their real-estate needs. What started off as a specialised estate management company three years ago, is today the largest real-estate services company in the Middle East."
"This recognition is a testament to the team’s hard work and commitment to transforming the real-estate sector with innovation and unique customer experiences and journeys, and always finding ways to add value to our customers and wider stakeholders," he added.
According to him, Provis was set up in 2019 as a professional estate management company by Aldar Properties to become a leading estate management player that offers distinctive, technology powered, innovative customer experiences and journeys.
In January last year, it assumed the responsibility of managing Aldar Properties' retail operations and acquired Asteco Property Management, thus expanding its offering to include retail operations, valuation and advisory, and franchising and becoming the largest full-service real-estate services company in the Middle East.
In 2021, the revenues and profitability of Provis grew by 125% compared to 2020, which enabled Provis to deliver greater returns to its shareholders.
Aengaar said Provis also plays a key role as the FM managing agent in charge of procurement to pay off nearly AED1 billion in FM contracts per year. The company earlier this year acquired Dubai-based Mace Macro Group's Owners Association (OA) business, adding approximately 4,000 new units to its already growing OA portfolio.-TradeArabia News Service