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Farnek Secures AED 356 Million of Contracts in First Half of 2023

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UAE-based facility services provider Farnek reports new and retained contracts valued at over AED 356 million (US $96.9) in the first six months of 2023.

The company has been awarded a total of 69 contracts requiring the deploying of more than 1,450 staff members to various sites across the UAE, with 65% of the projects located in Dubai, 18% in Abu Dhabi, and 17% in the Northern Emirates.

The company provides services to a wide range of industry sectors, including energy, security, aviation, hospitality, retail, and residential property, and offers total facilities management (TFM) as well as dedicated hard and soft services including mechanical, electrical and plumbing (MEP), cleaning, maintenance, security and housekeeping.

Farnek reports a 55% growth in its hospitality business since the beginning of the year following contract wins with SLS Residences in Dubai’s Business Bay, the five-star Sofitel The Palm, and the luxury Anantara properties on the Palm Jumeirah and the World Islands.

Other significant contract wins include cleaning and maintenance at Expo City, and awards for TFM services from Dubai-based aviation services company Execujet and the Dubai Police.

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The reporting period also included the renewal of a three-year MEP hard services contract for the Burj Khalifa, the world’s tallest tower which the company first won in 2010.

CEO, Markus Oberlin, says: “Farnek has always focused on innovative, technology-driven, and sustainable FM solutions. This strategy has supported our business growth and realized substantial contract wins.”

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Staff Reporter

FMIndustry.com covers the latest news, trends and opinion from the facilities management (FM) and corporate real estate (CRE) sectors. The FM market is currently estimated to be worth USD 1 trillion annually and is projected to grow at a compounded annualised rate of approximately 5% between now and 2026.

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  • Staff Reporter

    FMIndustry.com covers the latest news, trends and opinion from the facilities management (FM) and corporate real estate (CRE) sectors. The FM market is currently estimated to be worth USD 1 trillion annually and is projected to grow at a compounded annualised rate of approximately 5% between now and 2026.

    View all Articles

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