Gulf Construction Online - Bloom in deal for new Saudi venture

Facilities Management

Bloom in deal for new Saudi venture

01 August 2018

Abu Dhabi-based Bloom Holding says one of its subsidiaries, b.fm, has signed a memorandum of understanding (MoU) with Saudi real estate group AlKifah to collaborate on setting up facilities management (FM) operations and related consultancy across the kingdom.

As per the agreement, b.fm, a leading provider of a comprehensive range of integrated FM services, and AlKifah will jointly work to shape a new business venture that offers commercially viable FM solutions in Saudi Arabia, said the company.

For its part, b.fm will be able to extend its bespoke FM service model that utilises computerised automated facilities management (CAFM) systems to deliver the highest quality of service to its clients in the country, it adds.

This MoU brings together two leading business entities in the region to collaborate on various business opportunities related to FM services in Saudi Arabia, remarked Bloom Holding CEO Sameh Muhtadi, after signing the deal with AlKifah Holding CEO Abdulaziz Al Afaleq.

The agreement is also aligned with Bloom’s strategy to expand its geographical footprint and extend offerings to new territories, he noted.

“As Saudi Arabia pushes ahead with its plans to diversify the national economy in line with its ambitious Saudi Vision 2030, Bloom is keen to capitalise on the tremendous opportunities the country presents for investors from the UAE,” said Muhtadi. “Together with our partners from AlKifah, we are confident that we can provide best-in-class facilities management services to a wide range of potential clients in the Saudi market.”

Al Afaleq commented: “We are very excited about our collaboration with b.fm and confident that together we can deliver outstanding solutions that cater to the FM market in Saudi Arabia by leveraging on our combined expertise and capabilities to enable our clients to better concentrate on their core business.”

A leading investment company operating in Saudi Arabia since 1970, AlKifah Holding owns and manages more than 20 subsidiaries in seven divisions, focused primarily on contracting, construction solutions, property development, business solutions, financing, paper production and community enrichment.

With its corporate headquarters in the Eastern Province, AlKifah maintains an active presence across the kingdom.

“The timing couldn’t have been better as there is a big gap in the market for quality FM services and we hope with this partnership to bridge this gap and exceed customers’ expectations,” he added.