Interserve announces Saudi JV at embassy event in Riyadh
FTSE 250 support services provider Interserve is to establish a joint-venture company with the Rezayat Group of Saudi Arabia.
Interserve, the international support services and construction group, and the Rezayat Group of Saudi Arabia have announced the launch of a new joint venture business to provide facilities management services throughout the Kingdom of Saudi Arabia.
The joint venture will operate under the name Interserve Rezayat. Rezayat has been a leading provider of support services - including total FM packages, housing and building maintenance - in the Middle East for over 50 years and complements Interserve’s strength in the European facilities management market and long established presence in the Gulf market.
Interserve Rezayat will build on the strengths of both companies to deliver integrated facilities management solutions throughout the Kingdom, including technical, maintenance, operational and managed services as well as a range of general support services.
Adrian Ringrose, Interserve’s Chief Executive said:
“This agreement represents the coming together of two great companies to form a world-class facilities management provider serving the whole of Saudi Arabia. Interserve has been operating in the Middle East since 1981 and we’re very excited to be entering the Saudi Arabian facilities management market in partnership with Rezayat at a time when the Kingdom’s economy is diversifying and evolving. Our organisations share similar values and we are committed to providing great customer service, and building on our reputation for excellence to ensure that Interserve Rezayat is a successful venture.”
Shakeeb Alireza, Group General Manager of the Rezayat Group said:
“With the coming together of two market leaders in Support Services, Interserve Rezayat will provide a wide variety of world-class facilities management solutions to customers within the Kingdom.”
The Saudi Arabian facilities management market to be served by the joint venture, is expected to grow substantially over coming years.