Power Factor Electromechanical Works, a subsidiary of Masharie, the private equity arm of Dubai Investments PJSC, has secured contracts to provide the MEP works for three new projects in the UAE.
The contracts have a combined value of AED 49.8 million. The main contract for all three projects is Al Arif Contracting.
The new projects are a 23-storey residential and commercial tower in Dubai Sports City, a 25-storey residential and commercial tower in Al Khan, Sharjah and 18-storey commercial tower in Al Mamzar, Sharjah.
“Even as many companies remained passive in their strategic response to the market downturn, Power Factor continued to focus its efforts on increasing its operational efficiency and business agility. This proactive approach has allowed us to successfully capitalize on new market opportunities,” said GM Hesham Ismail
Based in Dubai, Power Factor offers the entire spectrum of MEP works and also specialises in the design, installation and commissioning of low current systems. The company focuses on developing advanced technology solutions suitable for a broad spectrum of markets, including transportation, banking, telecomms, defence, universities, hospitals, and retail.
Masharie, owning 50% equity share in Power Factor, has an investment portfolio of 17 companies in diversified sectors including chemicals, aluminum, electrical and, construction materials and services.
