Ithmar deal to support Panceltica's regional expansion - Emirates24|7

Ithmar deal to support Panceltica's regional expansion

(SUPPLIED)

 

Ithmar Capital, a leading private equity firm, has tied up with Qatar's Panceltica, which provides large-scale housing and building projects in the region, to support the latter's aggressive growth and expansion strategy throughout the region, a statement said on Tuesday.

"We are uniquely placed to provide Panceltica with innovative investment and business development strategies to tap into the phenomenal growth potential of the region," said Faisal Belhoul (pictured above), founder and managing partner of Ithmar Capital.

"Our highly-focused private equity specialist team is not only experienced in myriad local expansion opportunities, but is also able to leverage our global network and international expertise to deliver exceptional results for our clients," he added. The company hopes to benefit from the ongoing building boom in the Gulf and has plans to expand rapidly throughout the region. It is rolling out a new technology, that enables it to build lightweight steel-framed structures up to eight times more quickly than traditional construction techniques.

"It's our aim to position Panceltica as the region's leading supplier of fast-track housing. We firmly believe our alliance with Ithmar Capital, with its true knowledge of the GCC investment landscape, will provide us with the necessary platform to achieve our ambitious regional expansion plans," said Paul Fraser, Panceltica's CEO.

Ithmar believes the UAE's economic prospects remain robust with no apparent let up in the real estate boom.

"The Middle East's construction industry is ripe for private equity involvement to assist partners in growing and realising their maximum value, while providing an excellent vehicle for investors," said Khaldoun Haj Hasan, co-founder and managing partner of Ithmar Capital.

Panceltica recently became the largest firm to float on London's Alternative Investment Market this year. Ithmar Fund II was brought in as a strategic shareholder at pre-IPO phase.

 

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