Emcor Facilities Services’ project backlog to exceed US $272.3m
(EFS) has announced it is on track to exceeed AED 1 billion (US $272.3 million) in project backlog by Q2 2011. Speaking at a press conference in Dubai on Monday May 16, EFS managing director Tariq Chauhan said the growth was due to new contracts the company recently acquired in Saudi Arabia and Egypt. This […]
(EFS) has announced it is on track to exceeed AED 1 billion (US $272.3 million) in project backlog by Q2 2011.
Speaking at a press conference in Dubai on Monday May 16, EFS managing director Tariq Chauhan said the growth was due to new contracts the company recently acquired in Saudi Arabia and Egypt.
This year EFS expect revenue growth rates of 100%, aided by new contracts.
“We expect to cross the five million [dirham] mark in our project backlog by 2015 and increase revenues by 25-30%. Last year we experienced 30% growth and this year we will have almost 60% growth due to these new projects.”
The company is also aiming for 100% contract retention.
EFS has been operating in the region for over a decade, managing mega and scalable FM projects across the Middle East. The provider operates in the UAE, Saudi Arabia, Kuwait, Bahrain, Qatar, Oman, Egypt and India.
High profile clients contracting services from EFS include Unilever, Emaar, HSBC and Musanada. Expansion plans primarily aim to increase the services provided to existing clients, and also attract new contracts in banking and educational infrastructure in new geographical markets.
Other predictions announced at the conference included capacity to “cross the five billion mark” in project backlog by 2015. EFS is currently exhibiting at FM Expo, at Dubai World Trade Centre.
“With the market growing, we see massive opportunities in the facilities management sector that is growing as more and more properties are completed and handed over,” Chauhan, added.
The Big Project June edition will look in details of different branches of the FM industry, including the EFS Training and Development Centre and newly established Centre of Technical Excellence.
