Estithmar has ramped up its investments in multiple projects across the region in recent months.
Estithmar Holding’s subsidiary “Elegancia facilities management” established the ‘Mina Facilities Management’ company in Jordan on Thursday as part of the Qatar-based entity’s expansion abroad.
The Doha-based company announced its latest foreign project in a press release, which confirmed it established Mina Facilities Management in partnership with Jordan’s ‘Total Care Facilities Company’.
“The establishment of this company is a continuation to the expansion of the company’s projects abroad. Elegancia Facilities Management has become in the last ten years one of the largest facilities management companies in the region,” Estithmar said in a press release.
The press release fell short of disclosing further details on the new project, including its services and its monetary cost.
Growing global presence
Estithmar has ramped up its investments in multiple projects across the region in recent months as part of a strategy to expand its global presence.
Last month, Estithmar officially laid the foundation stone of a major tourism complex in Baghdad, established under an agreement signed between Qatar and Iraq in June during the visit of Amir Sheikh Tamim bin Hamad Al Thani.
“This project is set to revolutionise the country’s tourism and hospitality sectors with its unique design that blends the legacy of the past with the luxury of the future. This first of its kind project will offer its visitors many unique and diverse experiences,”Estithmar’s Vice Chairman Ramez Al-Khayyat, said during the event in Iraq.
Estithmar’s subsidiary Elegancia Healthcare also established a branch in Iraq in August, implementing another memorandum of understanding signed during Sheikh Tamim’s visit.
Meanwhile in July, Estithmar’s subsidiary in Saudi Arabia received two contracts for the West Hotel 3 and 4 on the Al Shura Island, following previous mega packages for other hotels at the kingdom’s latest attraction.
“These premium resorts are part of the 11 underway on the main hub island of The Red Sea destination under development in the Kingdom of Saudi Arabia[…]marking this one of the largest developments in the Kingdom and a flag bearer for regenerative tourism worldwide,” Estithmar said at the time.
Outside of the region, Elegancia Healthcare inked an agreement with Kazakhstan’s health ministry in June to establish a new medical hub in the capital city of Astana.
Estithmar’s latest project in Jordan is expected to contribute to an increase in trade between Doha and Amman, which has witnessed exponential growth in recent years.
The trade volume between the two countries spiked from $163 million in 2021 to $2.011 billion in 2022. In Q1 of 2023, trade exchange reached $58 million.
There are at least 60,000 Jordanians working in various sectors in Doha, while more than 1,100 joint Qatari-Jordanian companies operate from Qatar in the trade, contracting, construction, interior design, and maintenance sectors.
In 2020, Sheikh Tamim visited Jordan for the first time since 2014. He offered to provide 10,000 jobs for Jordanians and pledged $30 million in assistance to Amman’s military pension fund.