GIG and DIM to establish joint technical property management business

Facility management company GIG and property management company DIM have established a joint technical property management company called DIM Engineering GmbH. From February 1st 2018, the new company will be active at 13 locations throughout Germany, offering a range of services including technical, engineering, project management and consultancy services covering all asset classes. The services will primarily be aimed at institutional clients. Axel Michaelis, who is also responsible for GIG’s pharma and engineering segments, has been appointed managing director. GIG and DIM each hold a 50% share in the joint venture.

According to Professor Matthias Thomas, managing director of the GIG group of companies, “By combining both companies’ expertise in the technical property management sector we are able to offer clients an even broader and targeted spectrum of services. The establishment of DIM Engineering GmbH is an important step in the development of a one-stop platform for property-based services.”

Klaus Krägel, member of the board of directors at DIM Deutsche Immobilien Management, adds: “The joint venture will allow us to provide a comprehensive range of property-related services, covering not only standard technical property management services but also a range of engineering and consultancy services”. The DIM group’s existing technical property management business will be taken over by the new company.

The GIG group of companies provides technical, infrastructural and commercial facility management services, with Assets under Management currently totalling more than € 25 billion. Assets include approximately 130,000 residential assets, around 480 commercial assets including office and logistics buildings, hotels, hospitals as well as large-scale industrial and business parks. Services provided also include the development of modernisation and energy concepts and the acquisition and operation of local electricity grids for large-scale sites.

The DIM group of companies is one of Germany’s leading property management companies, with Assets under Management currently amounting to more than € 15 billion. DIM provides commercial and technical property management services for approximately 3.4 million sqm of commercial and 2.5 million sqm of residential floor area. DIM has seen significant growth in its office segment and was appointed property manager of the well-known Commerzbank Tower in Frankfurt in 2017.