A Premier Magazine Dedicated to the Management of the Built Environment

Provis Acquires Saga Owners’ Association

 

SAGA International Owner Association Management Services will become part of Provis’ expanding portfolio

 

Filed under
Property Management
 
UAE
November 23, 2022
 
Share this story
 
 
Subscribe to our newsletter
 

To receive the latest breaking news and stories in Dubai, the UAE and the GCC straight to your inbox.

 
Provis Acquires Saga Owners’ Association
 

Provis has acquired ‘SAGA International Owner Association Management Services LLC’ (SAGA), bringing the company’s Owners Association portfolio to nearly 47,000 units. A press release said, the acquisition is in line with Provis’ long-term growth and expansion strategy as it firmly positions itself as the largest Owners Association (OA) management service provider in the UAE in terms of managing third-party owned units.

SAGA was established in 2008 and has since gained significant market share in Dubai and earned the trust of reputable developers and owners, with thousands of OA units under management at the time of the acquisition. Some of the communities managed by SAGA are located in Business Bay, Palm Jumeriah, Jumeirah Village Triangle, and Jumeriah Lake Towers amongst others. Samer Ganni, founder of SAGA, will continue to lead the company’s national and regional expansion strategy.

HP Aengaar, CEO at Provis said, “The acquisition of SAGA is in line with our growth strategy which will enable us to further strengthen our position as the market leader in the UAE. By adding thousands of additional OA units to our portfolio, Provis will be able to build up scale while leveraging its existing service expertise and advanced real estate technological platforms to offer the wider market our high-impact, tailor-made services and a unique Cx proposition.”

The acquisition of SAGA is the latest in a series of transactions completed by Provis during the last two years. The Company acquired Pacific OA in 2020, Asteco Property Management in 2021, and Mace Macro's OA business in early 2022, bringing the number of units under property management to about 30,000 and nearly 47,000 units under owners' association management in the UAE and wider region. The acquisitions have diversified Provis’ revenue stream which now range from sales, leasing, valuation advisory and building consultancy, to investment advisory, and franchising business segments.

 

Related Stories