A subsidiary of the UAE's Bloom Holding has expanded its facilities management (FM) business to Saudi Arabia.
B.fm has signed a memorandum of understanding (MoU) with Saudi's AlKifah Real Estate, part of Al Kifah Holding company, to deliver FM operations and consulting in the kingdom.
As part of the MoU, B.fm and AlKifah will create a business venture to deliver FM in Saudi Arabia.
Sameh Muhtadi, chief executive officer (CEO) of Bloom Holding, and Eng Abdulaziz AlAfaleq, CEO of AlKifah Holding, signed the MoU.
AlKifah's AlAfaleq said the MoU's "timing couldn't have been better", owing to a dearth of quality FM services in the kingdom.
He continued: "There is a big gap in the market for quality FM services and we hope with this partnership to bridge this gap and exceed customers’ expectations."
B.fm said it would roll out its computer-aided FM (CAFM) systems in the kingdom, in addition to its other offerings.
Commenting on the MoU, Muhtadi said: "This MoU [...] is aligned with Bloom’s strategy to expand its geographical footprint and extend its offerings to new territories.
"As Saudi Arabia pushes ahead with its plans to diversify the national economy in line with its ambitious Saudi Vision 2030, Bloom is keen to capitalise on the tremendous opportunities the country presents for investors from the UAE."