Farnek is projecting a 15% growth in revenue for the current financial year, it also reported a 5% to 6% growth in profits for 2017. There has also been a 17% increase in overall staff numbers with a staggering increase in the number of female employees in the company — 29% over the previous year.
In terms of contracts, Farnek is involved at the Dubai Mall where it is in charge of cleaning services. It also continues its impressive track record of providing ard services at Emaar’s Burj Khalifa — the world’s tallest tower — where it has been involved since the beginning. Speaking about hard services contracts the firm is also contracted by Abu Dhabi Municipality, Musanada (Recreational facilities including sports clubs, equestrian club and country club). Whereas with regards to soft services the firm also has a relationship with Dubai Airports, RAK Bank, Ministry of Community Development and Oracle.
In Q3 2018 alone Farnek was awarded contracts worth $31.3m (AED115m) and over 500 staff have been mobilised as part of the wins. Oberlin said: “These account wins are indicative of the wealth of knowledge we have of the local market and our understanding of our clients and their customers. We have invested significantly in technology and innovation, something which is at the very crux of our offering and is a crucial component of our business strategy success and account wins.”
Farnek is also set to break ground on a new staff accommodation site in December, where it will be investing in excess of AED150m and will come equipped with state-of-the-art facilities in Dubai Investments Park. The new site will be host to 5,000 of the firm’s employees. Arif & Bintoak is currently carrying out the design and build with an emphasis on FM at the beginning to ensure it’s a smart building and maximise the operation and maintenance, waste and energy management will also be key aspects on the new structure.