To cope with the increased workload, the number of employes based in Abu Dhabi has grown by 18% to nearly 1,300 staff and Farnek is also currently looking at an additional satellite office to provide enhanced onsite customer service, said Farnek in a statement.

 

Farnek’s Abu Dhabi logistics team has also managed to optimise their transport fleet by employing larger vehicles and opitimising route management, saving time, fuel and money as well as minimising its carbon footprint.

 

Abu Dhabi has recorded strong economic growth in the wake of the pandemic. According to the Statistics Centre of Abu Dhabi, the emirate’s economy grew by 9.3% annually in 2022, the highest in the MENA region, with GDP currently standing at $300 billion. 

 

This robust economic growth had a notable effect on foreign investment, which increased by 9.7% in 2022, valued at in excess of $226 billion.

 

"This is especially true within the non-oil sectors, which now contribute more than 52% of the emirate’s GDP. Credit rating agency S&P has forecast that Abu Dhabi’s GDP will grow by an impressive 5.3% this year, which bodes well for our business operations in 2024," noted Markus Oberlin, the CEO of Farnek.

 

Some of the more notable contract wins, valued at over AED 240 million, include a total FM deployment for Mina Zayed or MiZa as it is branded, which is an emerging innovation-focused neighbourhood for diverse entrepreneurial communities. 

 

Other contracts include Etihad Airways Engineering, and the Barakah Nuclear Power Plant, where Farnek provides cleaning and maintenance services, as well as managing the facilities for the F1 Grand Prix at the Yas Marina Circuit, it stated. 

 

Farnek services a wide range of industry sectors such as energy, security, aviation, hospitality, retail and residential property. The scope of work includes a considerable number of contracts for total facilities management (TFM) as well as dedicated hard and soft services such as MEP, cleaning, maintenance, security and housekeeping appointments, amongst others.

 

“Farnek’s business expansion in Abu Dhabi is a result of its successful business strategy, which focuses primarily on innovative, technology-driven and sustainable FM solutions,” added Oberlin.-TradeArabia News Service