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Farnek Enters Abu Dhabi Security Services Market |
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Leading UAE-based total facilities management company, Farnek has now entered the Abu Dhabi security market and can now provide full protection services across the entire range of real estate assets, such as commercial and residential buildings, shopping malls, hotels and industrial premises. The move follows the formal signing of a business partnership agreement with HE Badria Almulla, Chairperson of the Abu-Dhabi-based International Emirates Business Group (IeBG). "We are honored to serve our beloved country and to support its vision of being a hub for business excellence. To that end we have signed a strategic partnership agreement with Farnek, not only because of their enviable reputation, solid experience and technical expertise, but also because I am confident that together, we can help to raise the bar in terms of TQM, HSE and CSR, while simultaneously achieving great business results.” With existing customers in the banking, residential real estate and industrial premises, initially Farnek will station 100 guards at its Abu Dhabi offices and increase resources in line with market demand. Farnek plans to have over 500 security personnel permanently based in Abu Dhabi by 2020. “Industry experts value the current UAE FM sector at around $6 billion. So, if 9% annual growth is accurate that means the FM sector should be growing at approximately $500 million per year,” calculated Markus Oberlin, CEO, Farnek. Farnek has been providing total FM services in the UAE for more than 37 years and until now has subcontracted its security services in Abu Dhabi. But due to demand from its customers and the market potential, especially for manpower tracking systems, fully automated incident reporting and automated access control, Farnek decided to set up its own dedicated security company in Abu Dhabi in partnership with HE Badria Almulla. Speaking about the partnership, Oberlin said: “HE Badria is highly respected and is a multi-award-winning businesswoman. Her leadership and support will be invaluable to us.” “We already have a workforce of over 4,000 employees, with more than 200 vehicles, so naturally we will benefit from economies of scale. This will allow us to integrate the security services seamlessly into our existing operation. We will also be able to service contracts that require broader FM services across multiple UAE locations, especially for banks, branded retail outlets, restaurants and hotels,” added Oberlin. According to the research company TechSci, the facilities management (FM) industry in the UAE is expected to grow at a Compound Annual Growth Rate (CAGR) of up to 9% over the next five years, driven by mega projects like Abu Dhabi's Emirate-wide Vision 2030, and Urban Development Master Plan 2020. In total, it is estimated that there are over $55 billion worth of major infrastructure projects in the UAE, the majority with completion dates within the next decade. With mega projects in Abu Dhabi as the Etihad railway network, Abu Dhabi Airport expansion and Abu Dhabi Metro, as such the FM sector is facing a period of robust and sustained growth not only in Abu Dhabi but throughout the UAE. “The focus of the UAE government is also to diversify the economy away from hydrocarbon receipts. Quite apart from managing new smart buildings the maintenance of older buildings and facilities is also providing the FM sector with ample opportunity,” added Oberlin. For more information, log on to www.farnek.com |
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