Built to inform

Sign up for the daily newsletters

No, Thank you

EFS secures $54m worth of deals so far in 2016

UAE-based EFS said that as a result of these contract wins, it now has a record-high order book backlog of $871m

Tariq Chauhan, group CEO, EFS Facilities Management.
Tariq Chauhan, group CEO, EFS Facilities Management.

EFS Facilities Services has secured $54m (AED200m) worth of contracts in the Middle East and India since the start of the year, the company said in a statement.

UAE-based EFS said that as a result of these contract wins, it now has a record-high order book backlog of $871m (AED3.2bn)

The UAE makes up more 60 % of the cumulative awards, with the remaining share distributed among other major markets such as Kuwait, Bahrain, KSA and India. EFS says it is seeing resurgence in Egypt and growth Saudi Arabia.

The company also achieved a turnover of 21% compound annual growth rate (CAGR) revenue growth in the last five years.

Tariq Chauhan, group CEO, said: “We currently manage over 250 million ft² of space for more than 300 multinational clients across 20 markets and have achieved an industry leading 95% client retention rate on the strength of our quality oriented services delivery.

"The $40.8m (AED150m) FM services contract secured for a renowned oil and gas multinational conglomerate’s facilities in the UAE and KSA, as well as the $4m (AED15m) FM services contract to manage the facilities for the global leader in IT consumer electronics, computer software and online services, enhance our credentials as the trusted Integrated FM services provider in the region.”

Chauhan said EFS is exploring “promising acquisition avenues” in India, as well as expanding the scope of joint venture activities for the Palm Hills development in Egypt.

 

 

Most popular

Awards

Dubai's JW Marriott Marquis Hotel to host CW Awards 2019
15th edition of the CW Awards will be held at the five-star Dubai hotel to

Conferences

Leaders UAE 2019: ALEC, CSCEC ME, Arada bosses on diversification
EXCLUSIVE: Kez Taylor, Sachin Kerur, Elie Mrad, and Grigoris Christofides share insights at Leaders UAE
Leaders UAE 2019: Dispute law updates can drive investments
EXCLUSIVE: Panel featuring HFW, Addleshaw Goddard, HKA, Al Tamimi & Co, and Pinsent Masons discusses

Latest Issue

Construction Week - Issue 749
Sep 15, 2019