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
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.