• EFS confident about achieving over 25 per cent growth in 2014
• More than 200 prestigious FM contracts operated by EFS regionally
Dubai, UAE, July 15, 2014 - (PressReleasePoint) - EFS Facilities Service Group, a leading integrated facilities management service provider in the Middle East, Africa and South Asia (MEASA) region, has announced impressive business growth results with the value of the new contracts in the first half of Fiscal Year (FY) 2014 exceeding AED 400 million.
The company recorded strong growth by winning regional contracts awarded by international banks and multinational corporations across the MEASA region along with significant local contracts in the UAE, India and Egypt. The new deals included contracts for the provision of integrated facilities management services for Abu Dhabi Education Council (ADEC) schools, Abu Dhabi government buildings, local and international banks as well as Fortune 500 multinationals. These new contracts enhanced the company’s impressive portfolio which included more than 200 prestigious contracts operated by EFS, regionally.
The new contracts across its regional portfolio has given the company the confidence of achieving 25 per cent growth by the end of 2014, which is substantially higher than its previous year’s performance. The bright business outlook in the Middle East has demonstrated the company’s capability to address the changing needs of the facilities management industry and maintain a sustainable and consistent growth over the past years.
A recent report by the Middle East Facility Management Association (MEFMA) suggested that around AED 80 billion was spent on FM services in 2012 while the growth by 2020 has been projected at AED 300 billion.
The boom in the FM industry has prompted EFS to implement a strategic expansion initiative in the GCC, South Asia and Africa. The company continues to remain strongly focussed on training and development of its human resources as it firmly believes that the people are its most valuable assets. The company has effectively used the progression tool to develop its human resources while improving efficiencies and productivity across all levels.
Tariq Chauhan, Group CEO, EFS Facilities Services, said: "Today, stakeholders and corporate players understand the importance of having efficient infrastructure, improved building management, as well as the importance of moving from an in-house fixed-cost model to a variable outsourced model. This realisation will facilitate an increased demand for outsourced services in the region.”
“As such, the UAE, Egypt and India continue to remain strong FM markets due to the increasing GDP contributions of its construction and real estate segments. The African and South Asian countries have been witnessing fast-paced growth, which presents ample growth opportunities for the FM industry,” he added.
The industry veteran said there has been a heightened awareness to move to a variable cost model by outsourcing more of the non-core services that will allow businesses to maintain their focus on core operations. EFS’s growth, he added, was being driven by its strong regional presence across 19 countries, providing large multinational corporations and banks a truly integrated service experience.
EFS highlighted five trends that have been playing a significant role in the industry’s continued growth. Energy efficiency tops the list as the move to ensure that buildings are more energy-efficient has now become a primary requirement not only for new infrastructure but also for existing buildings as well.
Big data and the presence of rapidly-evolving technology have been identified as another key trend as professionals have now demonstrated the need to understand how building functions, the outputs and the way in which FM can contribute to an efficient building.
Also, FM has now been integrated into a building’s design stage-giving owners and architects the ability to design and construct buildings that can be effectively and efficiently maintained for the long term.
Experts estimates that FM services could contribute to more than 80 per cent of the property and project value over a building’s predicted 25-year life cycle. Lastly, the entry of a new generation of highly-qualified and proficient FM professionals would ensure the industry’s continuous growth in the future.
Tariq Chauhan commented: “We believe that the essential driver to more growth for EFS will be through further increasing awareness about the benefits and advantages of having a good FM services provider. The industry is now moving towards technologically advanced equipment and processes to ensure high quality services. The industry still has to deal with a few challenges like the need for international and large corporates to move away from fixed costs to variable costs by more outsourcing of non-core operations by the FM providers.”
Press Contact: CommuniGate Dubai, UAE +97144546093 ****@c**m**i**t**e.com Email partially hidden to block spam. Please use the contact form here.