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New venture bags first facilities management deal

 

A new joint venture involving two local facilities management companies has picked up its first contract in the hospitality sector.

 

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New venture bags first facilities management deal
 

A new joint venture involving two local facilities management companies has picked up its first contract in the hospitality sector. The three-year contract valued at Dh100 million will manage these services for Etihad Tower in Abu Dhabi, a mixed-use development spanning more than 2.5 million square feet. EFS Facilities Services and Emirates Consortium are the shareholders in First Resort Hospitality Service. In fact, the new entity was set up specifically to take on opportunities in the hospitality sector.

“First Resort will address the growing specialised needs of the rapidly evolving hospitality sector in UAE, as well as provide us with a gateway to expand/consolidate our presence in the hospitality sector across GCC, Maldives, Seychelles, Africa and central Asia,” said Tarek Chauhan, Group CEO at EFS. “We are confident that our work on Etihad Tower will be a fitting showcase.” According to the promoters of First Resort, the hospitality sector could touch $10 billion (Dh36.73 billion) by the end of the decade. That would create a sharp demand spike for FM related services from clients in the industry.