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The Kingdom’s contracts industry registered a 78% increase in annual activity in 2021 according to the US-Saudi Business Council
Tenable Fire Engineering Consultancy (FEC) has secured over $1.73mn in projects in the first quarter of 2022. The fire and life safety consultancy says this performance represents a 120% increase in the number of contracts won in Saudi Arabia compared to the same period in 2021.
The firm said the increase in KSA projects has driven forward plans for it to open its first office in the Kingdom this summer. Its contracts have come from a range of sectors including commercial, cultural and heritage, hospitality and retail. The company believes the addition of a Saudi-based team will see continued growth in projects won and will aid the Kingdom in its construction developments.
Year-on-year growth has not been limited to Saudi Arabia; 2022 has seen Tenable FEC increase GCC-wide revenues by 15% compared to the same period in 2021, the firm said.
Headquartered in Muscat, Oman remains Tenable FEC’s largest market in terms of revenue, generating close to $1mn in the first four months of 2022. The organisation also recorded significant growth of 46% in the UAE, as well as winning more contracts for international projects, including several across Africa, the statement explained.
We are thrilled at the company’s growth so far this year, not just overall but across the majority of our serviced sectors. Our leading and accredited engineers ensure we are the region’s largest single-discipline fire and life safety services consultancy. By providing expert code consulting, fire system design, site inspections, and third-party verification, we’re able to excel in projects across the region and worldwide due to our flexible approach to architectural design aspirations in the initial planning stages. By the end of 2022, we aim to increase the number of projects in key sectors and continue our growth and positioning as an industry-leading specialist,” said Sultan Al Maskri, Tenable FEC’s founder and CEO.
Mazin Al Yaarubi, Tenable FEC’s Director – HQ, believes a major contributing factor to the organisation’s performance in the first four months of the year is an increasingly active construction market.
Al Yaarubi explains, “It’s promising that despite the difficulties faced globally due to the pandemic, we’re experiencing more business opportunities and projects across the region come to fruition. Now the world is returning to a steady-state of business and growth, our priority is to ensure the fire and life safety of these new developments and projects are in line with the numerous codes and requirements — something we pride ourselves on being industry experts in.”
According to Sam Alcock, Tenable FEC’s Dubai director, hospitality currently commands the highest revenue within Tenable FEC’s existing portfolio, as the number of new hotel openings increases and the need to service existing locations for their ongoing fire and life safety requirements continues. The energy sector, including oil and gas, LPG, power and petroleum, and the industrial sector in general remain key sectors for the organisation as its portfolio of clients grows. Retail has been identified as a target growth area for Tenable FEC as new malls across the region open, including the Mall of Oman, which has been a milestone project for the fire and life safety consultancy, he remarked.
Alcock concluded, “2022 has the makings of being a record year for Tenable FEC, and we are committed to continuing along this growth trajectory. We offer a comprehensive range of fire and life safety consultancy services and shall be focusing on delivering our existing expertise into new sectors, further establishing ourselves as the consultancy partner of choice in existing sectors and achieving our ambitious international growth plans, with a key focus on KSA in-line with Saudi Vision 2030. Already in 2022, we have successfully accredited three of our engineers with Saudi Council of Engineers, further cementing our commitment to providing world-class fire and life safety engineering consultancy services adhering to the local regulations in the markets within which we operate. We are looking forward to continuing to ensure some of the region’s,and the world’s, most prestigious and groundbreaking projects are delivered with robust fire and life safety as a priority.”
In early 2021, MECN spoke to Alcock about why regional fire and life safety strategies need to evolve, so as to protect buildings and their residents. |
