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2017 fmME Power 50: 1-10

by Nikhil Pereira on Dec 4, 2017

10. Maen Saddeq
10. Maen Saddeq
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10. Maen Saddeq Chief executive officer – MAB FM

MAB FM has leapfrogged into the top 10 of the fmME Power

50 rankings. The firm has grown significantly in 2017, adding several high-profile contracts to its portfolio, as its founder and CEO Maen Saddeq builds on the principal of “offering five-star quality service”.

In 2016, MAB was awarded the IFM contract for the Louvre Abu Dhabi which opened in November 2017. It is MAB FM’s biggest contract win until date, and one which Saddeq believes requires the utmost attention and highest service levels.

MAB FM also recently bagged the Index Tower in Dubai’s Business Bay district. The company saw a subsequent increase in revenue and profits year-on-year. Its staff numbers also increased, as MAB today employs close to 5,000 employees.

The company also operates in Jordan, KSA, UAE and other GCC countries with a focus to enter Lebanon and Morocco. Saddeq says: “We are optimistic that a re-energised focus on infrastructure spending will drive growth of several Middle Eastern markets, particularly in the Kingdom of Saudi Arabia and the UAE.

“In terms of market size, Saudi Arabia leads the way in the volume of new developments under construction or planned for construction within the coming months. Coupled with delivery schedules of major projects, and upcoming projects, we believe the spend on facilities management in 2018 will experience new highs,” Saddeq adds.

He is also sensitive to the challenges, “which is something that is expected in a market that is maturing”, Saddeq says. “The continuing pressures of shrinking capital budgets as existing facilities age will require doubling efforts to reduce maintenance costs while extending asset life. Driving down maintenance costs in creative and innovative ways will be the greatest challenge over the next 12 months and beyond, not only for us but the industry as a whole,” he adds.