Leading UAE-based smart property management solutions company HITEK Services, which is part of the Farnek group of companies, has signed an exclusive five-year partnership agreement with Riyadh-based Safari Holding.
Safari Holding Signs Exclusive PropTech Deal with UAE-based HITEK
The contract which was signed at the Safari Group’s head office in Riyadh, allows the Saudi company to offer a suite of smart technology solutions including CAFM, IoT, BMS, energy and carbon management solutions, all developed by HITEK’s in-house technology team, exclusively to building owners and property managers, as well as other FM service providers and consultants, throughout the Kingdom.
In May 2021, the Middle East FM Association (MEFMA) estimated that the Saudi FM market was worth approximately $20 billion, roughly 55% of the total GCC FM spend. However according to a recent report by Fortune Business Insights, the value of the Saudi FM market will grow to $34.86 billion by 2028 and Safari executives reckon that PropTech’s market share will be worth over $1.7 billion.
Commenting at the signing ceremony, Eng. Salim Al-Aydh, Group CEO at Safari Group said, “Residential, commercial and industrial real estate development in the Kingdom is expanding at a phenomenal rate and we have identified three specific issues, which need to be addressed when delivering optimal IFM solutions.”
“Firstly, the expanding geographical spread of real estate across Saudi Arabia, secondly the fact that hundreds of new, smarter buildings will be coming to market over a relatively short period of time and thirdly, supporting the government’s commitment to net zero.”
“This in our view requires advanced methods of FM which we believe can only be driven by the best technological solutions which our partner HITEK has afforded us.”
Established in 1984, the Safari Group which employs over 12,000 people, owns 16 businesses, with FM and construction at its core, operating out of offices in Riyadh, Jeddah and Dammam, as well as other locations throughout Saudi Arabia.
Safari has an impressive portfolio of FM clients including, Saudi Aramco, King Abdullah Medical City – Riyadh & Jeddah, the Ministry of Interior Riyadh, the Kingdom Tower as well as Riyadh airports and King Abdulaziz International Airport Jeddah.
“Advanced digital solutions can now integrate with any existing technologies such as BMS and can activate a variety of bespoke solutions remotely, linking smart and sustainable buildings with a digitally connected workforce. So, it is essential that we adopt technological solutions such as HITEK to capitalise on these opportunities.”
“The services that we will be providing will benefit both owners and tenants in large buildings, complexes and compounds. Through digitalisation they will be able to create efficiencies and reduce costs. We believe this is the future of technology driven IFM and we are excited to roll this out,” added Ali Saleh Al Sagri, Commercial COO at Safari Group.
HITEK is a home-grown PropTech company, part of the Farnek group, which was founded in the UAE in 1980. Farnek was an early adopter and has consistently invested in technology, focusing on digitalising its operational and supporting business functions.
SAAS-based HITEK solutions connect people, assets and spaces from multiple remote sites, using flexible, scalable and analytical platforms, for cleaning, security, maintenance and sustainability, so they could be centrally managed and monitored by utilising the Internet of Things (IoT), Building Management Systems (BMS), Cloud, Machine Learning (ML) and Artificial Intelligence (AI) based technologies.
It also supports operational efficiencies, staff welfare, and sustainability while saving clients significant amounts of money by reducing manpower costs by up to 17%, utility cost by 30% and enhancing asset life cycle by transferring from traditional FM operational management to HITEK’s smart management.
“Safari Holding is a leading Saudi conglomerate, focused on FM and construction. It is well-established and highly respected, with expertise in robotics, AI and advanced automation. There is significant potential for PropTech in the Kingdom and Safari provides us with an ideal partner.”
“Our strategy is for HITEK to become the undisputed market leader in the PropTech space and to extend our reach across the GCC countries and further into the Levant and Africa,” said Markus Oberlin, Group CEO, Farnek.
HITEK’s 24/7 command and control room or ‘nerve centre’, is located at Farnek’s state-of-the-art centre in Dubai. Being 5G and Wi-Fi 6 enabled, HITEK can take advantage of increased bandwidth, ultra-low latency and enhanced security.
“This will allow us to rollout digital, connected and unified transformative applications of technology that not only uplift the face of FM digitalisation, but also offer enhanced efficiency, as technology advances, interfacing with all aspects of FM,” said Javeria Aijaz, Managing Director of HITEK.