Reorganisation within ST Group Holding

05 Jun

Reorganisation within ST Group Holding

STRE Management DMCC Acquires Fidinam Australasia Real Estate Pty Ltd. Fidinam in Australia to focus on corporate services for future expansion.

 

Sydney/Dubai, June 5th, 2024 – STRE Management DMCC has finalized the purchase of Fidinam Australasia Real Estate Pty Ltd. to reorganize and optimize operations within ST Group, to which the two companies belong.

The acquisition, operationally effective from February 1st, 2024, will see Fidinam Australasia Real Estate operate in Australia as STRE Management Australia. This change marks a strategic shift in the company’s operations, from now focusing solely on Owner Representative Services for an over 500 million AUD portfolio, including eight properties in Sydney and Melbourne and ultimately controlled by STRE and a few minority investors.

“This acquisition represents a pivotal step in our strategy to integrate our real estate investment and management activities globally”, said Patrick Lardi, Vice-Chairman of ST Real Estate Holding Inc. and General Manager of STRE Management DMCC.

Matthew Burrows will continue as Managing Director of STRE Management Australia, aiming to expand the local team and open new opportunities in the Australian market.

Fidinam Group Worldwide Ltd. will focus on expanding its core corporate services business in Australia through Fidinam Corporate Services (FCS). It will continue assisting STRE Management Australia and its portfolio of corporate clients.

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Contacts

Matthew Burrows, Managing Director of STRE Management Australia | matthew.burrows@strem.com.au
Alessandro Pedrinoni, CEO of Fidinam Asia Pacific | alessandro.pedrinoni@fidinam.com.hk