Parker Finch, a leading full service community management firm based in
Phoenix, announced today it has opened the first US-headquartered HOA management company in Dubai. Ali Tumbi, chief executive officer of a full service real estate company called Aqua Properties, is the joint venture partner. The new entity name is Highrise Owners Association Management (HOAM).
“This is a tremendous opportunity for Parker Finch as it is our first management office outside the United States and the first of its kind in Dubai. Ali will make a great asset to our system and I look forward to working with him to introduce and rapidly grow community management in this new market,” Jim Small, chief executive officer of Parker Finch, said.
Owners Associations, as they are known in Dubai, had not previously existed until a new law went into effect in April. This law requires independent and licensed management companies to oversee the thousands of owners associations. Ali saw this as an opportunity to launch into this new and lucrative market.