Dubai – MENA Herald: EFS Facilities Services, a regional leader in delivering integrated facilities management services across the Middle East, Africa, South Asia and Turkey, announced that it was awarded a contract by Dubai Real Estate Corporation. This agreement will see the company manage and deliver a range of property services to a newly constructed residential development in Dubai.
The contract with Dubai Real Estate Corporation, valued at approximately AED15 million, is for the provision of facilities management services at Karama Residential Development, which is comprised of 572 apartments, 153 retail outlets and 802 parking spaces, with a total built-up area of 1.4 million square feet.
The new contract has been signed for an initial period of four years and will see EFS executing a managed asset replacement (life cycle) plan, combined with maintenance and operations of the common property areas of the development, in compliance with the UAE’s regulatory standards and framework. The contract will also involve EFS operating a 24×7 help desk facility for tenants.
The agreement was signed by HE Hesham Al Qassim, Vice Chairman of Dubai Real Estate Corporation, and Tariq Chauhan, Group CEO of EFS, in the presence of other executives from both organizations.
Commenting on the contract win, Tariq Chauhan said: “We are pleased to have won a mandate to deliver both hard and soft facility management services, focused on delivering efficiencies and a high-quality customer experience. Underscored by our local expertise and global knowledge, we are confident that we will play a critical role in ensuring that the property is managed efficiently with minimal running costs, whilst maximizing the life of the property. The new contract further strengthens EFS’ credentials as the preferred integrated FM provider for large scale mixed use developments in prime areas.”
The partnership with Dubai Real Estate Corporation comes at a time when the regional FM sector is seeing robust demand for organized facilities management services. In part this demand signals an underserved and a fragmented market where only 20% of the facilities management sector is organised in comparison to 80-90% in mature markets. According to a recent report released by consultancy firm, CREDO, FM contracts across the GCC will hit US$66 billion by 2020, up from US$37 billion in 2015.
It is EFS’ view that the regional FM sector will grow exponentially in the coming years, as businesses in every sector are adopting integrated FM as a means of protecting their margins and enabling value generation with minimal outlay and risk, whilst improving their market share. Anecdotal evidence of this can be seen in EFS’ clients, where input and support have resulted in a 10- to 100-fold leap in efficiency in various operational spheres.