Dubai’s IBC group invests CAD $8 million in Canadian FM software company

Region: The Americas

Dubai’s IBC group invests CAD $8 million in Canadian FM software company

IBC group says its investment into proptech firm, SITEFY, marks a growing trend for cloud-based facilities management platforms

Added: December 10, 2020 | By: CPI Industry - Content Team

Khurram Shroff

DUBAI, UAE, 9 December 2020: IBC group has announced investing approximately CAD $8 million – at a pre-money evaluation of CAD 21 million – into Canadian facilities management software platform, SITEFY. A proptech solution, SITEFY will assist commercial real estate owners and facility managers in streamlining daily building operations and proactively manage their real estate assets, IBC said through a Press release.

According to IBC, the senior management team at SITEFY brings to the table over 35 years of experience and global best practices in real estate management. SITEFY increases transparency and accountability by leveraging real-time data and analysis to help building owners and FMs in proactive management of their real estate portfolios, IBC said.

“The SITEFY software platform is a truly versatile and powerful solution that can generate huge efficiencies in real estate operations,” said Khurram Shroff, Chairman, IBC Group. “The idea is to introduce SITEFY’s technology software to the Dubai market and implement it in all our buildings, as well as to make it available to the regional developer community. We believe that the solution can be a game changer that unlocks significant returns for property owners, and our plan is to take the platform to the GCC, African and Israeli markets, as well.”

According to IBC, the SITEFY software platform gives building owners, facility managers and their workforces access to real-time asset management, vendor management, unit management, sanitisation management and preventative maintenance, in the palm of their hand. As part of its many benefits, the solution automates the generation and assignment of workflows; enables assured compliance with Fire, Life and Safety procedures; and ensures the verifiable and digitally monitored sanitisation of properties, IBC said.

Saleem Moosa, CEO, SITEFY, said: “Data-derived intelligence is transforming the management of real estate assets, globally. The team at the helm of SITEFY understands how property managers and owners juggle multiple deadlines – more so, in the post-pandemic new normal. Therefore, the platform is powered with data management and analytics to maximize property value and operational efficiency, as well as help building owners and managers adhere strictly to mandated guidelines, while managing properties remotely if required.”