UAE-based facilities management company Farnek has achieved record sales revenue, securing a host of new and retained contracts, worth more than AED607 million ($165.2 million) in 2023.

In total during 2023, Farnek was awarded more than 300 contracts, an average of 25 every month and overall, more than 2,500 additional members of staff have been mobilised to sites across the UAE, said the company in a statement.

During the period, Farnek catered to a wide range of industry sectors such as energy, security, aviation, hospitality, retail and residential property.

The scope of work included 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, it stated.

On its 2023 performance, CEO Markus Oberlin said the record amount of contract wins was a result of Farnek's successful business strategy, which focuses on innovative, technology-driven and sustainable FM solutions.

"This culminated in our winning the Expo City contract for hard and soft FM services and our successful management of the COP28 event. We also managed to increase our market share in Abu Dhabi with new contract wins such as Adnoc, the MiZa neighbourhood and Enec and we continued to manage the facilities for the F1 Grand Prix," he stated.

Oberlin pointed out that Farnek's hospitality division had been particularly successful registering a 268% growth over the past 12 months.

"We have been awarded contracts for housekeeping, maintenance and security from SLS Residences in Dubai’s Business Bay, the five-star Sofitel The Palm and the luxury Anantara properties on the Palm Jumeirah and the World Islands,” he noted.

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