Provis Expands its Portfolio with the Acquisition of Mace Macro’s Owners Association Business

Provis Expands its Portfolio with the Acquisition of Mace Macro’s Owners Association Business

Abu Dhabi, 6 April 2022 – Further strengthening its market share and geographic footprint, leading full-service real estate company Provis announced the acquisition of Dubai-based Mace Macro (Mace) Group’s Owners Association business, adding approximately 4,000 new units to its already expanding Owners’ Association (OA) portfolio. As a result of the acquisition, Provis will now manage nearly 32,000 units under OA.

HP Aengaar, CEO at Provis, said, “Starting 2022 with this strategic expansion is a testament to our carefully planned growth plans and enables us to ensure more owners and residents benefit from world-class, high impact and consistent real estate solutions. Acquiring Mace Macro’s OA division cements Provis’s position as the leading full-service real estate company in the region, and significantly increases our presence in Dubai.”

The formerly Mace Macro managed units are located in Jumeirah Lake Towers Cluster E, Jumeirah Lake Towers Cluster O, Business Bay, Burj Khalifa District – Downtown Dubai, Motor City and Dubai Landline Residence Complex.

In January 2021, Provis assumed the responsibility of managing both Aldar Properties’ retail operations and the operations of Asteco Property Management Company, expanding its offering to include retail operations, valuation and advisory, as well as franchising and becoming the largest full-service real-estate company in the Middle East.

Today, Provis manages over 25,000 units under property management and nearly 32,000 units under owners' association management in the UAE and wider region and manages over 1 million sqm of assets spread across 23 reputable commercial buildings. The company also manage over 600,000 sqm Gross Leasable Area (GLA) of retail assets across four shopping malls and 26 retail community destinations and supervises and manages more than 1 billion dirhams in Facilities Management contracts covering over 3,000 assets across the UAE.