EFSG moves into Saudi Arabia

GCC firms are lining up to take advantage of the buoyant KSA market

Emcor Facilities Services Group (EFSG) Middle East has been awarded its first contract in Saudi Arabia to provide facilities management and operational support services.

The contract is valued at over US $133 million (SAR500 million), and was awarded to the group in collaboration with its Saudi Arabia-based joint venture partner ACWA Holding.

The firm is the latest in a long line to announce its move into the Saudi Arabia market.

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EFSG said the move was in line with its strategy “to leverage the region’s single-largest market” and that it “followed the company’s Middle East expansion plans.”

An EFSG spokesperson was unable to reveal any further details regarding the contract at this stage.

Companies within the construction and related sectors have been flocking to take advantage of the Saudi Arabia market since the industry-wide slowdown settled on some GCC countries around the close of last year.

Christian Roberts, CEO of EFSG, said the move was also intended to capitalise on what he believed was a trend for property developers to consult facilities management firms in the early stages of a development in a bid to save cash in the long-term.

“EFSG has been strengthening its strategic position in the Middle East to capitalise on this emerging trend and the growing concern of developers towards sustainability and long-term security of investments.” he said.

ACWA Holding CEO and president Rasheed Al Rasheed said that EFSG would “play an instrumental role in defining the standards of facilities management in Saudi Arabia.”

EFSG employs around 1000 staff across its Middle East operations, spread between Abu Dhabi, Bahrain, Dubai, Kuwait, Saudi Arabia, Oman, and Qatar.

Dubai-based firm Drake and Scull is a major shareholder in EFSG. It also holds share in Drake and Scull International (DSI), which is also making a big push into the Saudi Arabia market.

DSI has said it is on the verge of finalising the acquisition of a major MEP contractor based in Saudi Arabia. The firm in question is being evaluated by a third party and DSI hopes to announce the acquisition by the third quarter of this year.
 

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