Total facilities management (TFM) company Farnek has announced the opening of its new Abu Dhabi office.
The new office, located in Mohammed Bin Zayed City, will provide an enlarged base for Farnek’s growing headcount in Abu Dhabi, which now exceeds 1,000 employees.
Farnek CEO Markus Oberlin said: “Our investment in new offices, headcount and equipment, highlights our commitment to building owners and managers effective in Abu Dhabi, Al Ain and the wider South and Western regions.
“After 37 years of impressive growth in the UAE, this move undoubtedly strengthens our market position in the FM sector and gives us added opportunities to compete for new FM contracts in Abu Dhabi,” he said.
According to research company TechSci, UAE’s facilities management sector is estimated at $6bn and expected to grow at a Compound Annual Growth Rate (CAGR) of up to 9% or $500m p.a. over the next five years.
“In the UAE capital, this will be driven by Abu Dhabi's Vision and Urban Development Master Plan for 2030 as well as a raft of infrastructure developments in and around the Khalifa Industrial Zone (KIZAD), that will ensure a decade of robust and sustained growth,” added Oberlin.
Farnek’s existing portfolio of clients in Abu Dhabi includes the FM and MEP services for Al Forsan Real Estate; Abu Dhabi General Services Company’s Musanda project; the East and West Tower projects by Al Saqr Properties and the Al Falah community developed by Aldar.
Farnek also has contracts with Etihad Airways for housekeeping and MEP services as well as for Etihad First and Business Class lounges.
The new office announcement follows the formal signing of a business partnership agreement with HE Badria Almulla, chairperson of the Abu-Dhabi-based International Emirates Business Group (IeBG), earlier this year, which allowed Farnek to set up its own dedicated security company in Abu Dhabi, with a clear focus on increasing its market share.
With existing security contracts in the banking, residential real estate and industrial premises, initially Farnek will station 100 guards at the new Abu Dhabi office and increase resources in line with market demand.
Farnek plans to have over 500 security personnel permanently based in Abu Dhabi by 2020.
“Farnek was established in the UAE in 1980. Today our headcount has grown to over 4,000 employees and we have secured contracts with some of the biggest brands in the world. Our new office in Abu Dhabi is testament to our strengthening market proposition as well as our long-term ambition,” added Oberlin.