Farnek Secures Contracts Worth Over AED 690 Million in 2024

Farnek, a leading smart and sustainable facilities management (FM) company in the UAE, achieved unprecedented sales revenue in 2024, securing an impressive portfolio of new and retained contracts worth over AED 690 million.

Expansion Through 460 New Contracts and Workforce Growth

Throughout the year, Farnek secured more than 460 contracts, leading to the mobilization of over 1,500 additional staff across various sites in the UAE and Saudi Arabia. This expansion increased the company’s total workforce to over 9,000 employees.

Strategic Success Driven by Innovation and Sustainability

Markus Oberlin, Group CEO at Farnek, attributed the company's record-breaking performance to its forward-thinking business approach, emphasizing AI-driven, sustainable FM solutions. This strategy has enabled Farnek to strengthen its market presence across multiple sectors.

“2024 was an outstanding year for new business development and contract retention. We managed to increase our market share in the UAE and in Saudi Arabia, through sectors such as energy, healthcare, aviation, hospitality, retail, commercial and residential property. Given the rapid growth in real estate development, demand for innovative AI-driven smart and green solutions will continue to drive the FM market throughout the GCC, as companies strive for automation, sustainability and cost efficiency.”

Significant Growth in Abu Dhabi FM Market

Farnek significantly boosted its footprint in Abu Dhabi, securing contracts valued at AED 240 million. Key projects include Khalifa Sport City, Etihad Airways Engineering, and the Barakah Nuclear Power Plant, solidifying Farnek's position in the capital’s FM sector.

Strengthening Presence in the Hospitality Industry

The hospitality sector proved fruitful for Farnek, with multiple contract wins amounting to AED 72 million. These projects required the mobilization of 450 dedicated staff to support operations across premium hospitality establishments.

Expanding Security Services Portfolio

Farnek also made notable strides in the security sector, securing contracts exceeding AED 25 million. Prominent clients include GMG, Aramex, MAG EYE, AZADEA, NAS 2, and MIZA Investments, further diversifying the company's service offerings.

Major Success for Hitches & Glitches

Farnek’s home maintenance division, Hitches & Glitches, secured a significant contract with Emaar Hospitality to manage back-of-door services for 14 Emaar Residence Towers, encompassing more than 7,000 apartments. Additional wins included contracts with King’s College Hospital and its associated clinics.

HITEK’s Digital Advancements and Smart Solutions

Farnek’s technology arm, HITEK, continued to drive innovation, implementing its smart FM solutions at Riyadh's Sports Boulevard. The company also secured a contract with mining giant Ma’aden, developed a cutting-edge community app for the MAG City development in Dubai, and signed a waste management agreement with du.

“HITEK also launched its Housekeeping Plus solution last year, a smart mobile application for the hospitality sector and its MEDTEK solution has been set up successfully and is already supporting more than 10,000 patients,” added Oberlin.

LEED Platinum Certification for Burj Khalifa

One of Farnek's most notable achievements in 2024 was its instrumental role in supporting the Burj Khalifa's successful LEED O+M Platinum Certification. Farnek has been delivering MEP hard services for the iconic skyscraper since 2010.

Comprehensive Service Offering Across Multiple Sectors

Farnek continues to cater to diverse industry sectors, delivering total facilities management (TFM) solutions alongside specialized hard and soft services, including MEP, cleaning, maintenance, security, and housekeeping.