First Security Group starts work on Dubai corporate HQ
DUBAI, February 29, 2024
The First Security Group has broken ground on its corporate headquarters and a futuristic security training centre which will be built on a 979,447 sq ft plot of land at Dubai Academic City. The entire project is scheduled for completion within a 15-month period.
The new facility, which will have a built-up area of 7,464 sq m (80,342 sq ft), boasts classrooms equipped with the most advanced security equipment, a health club and swimming pool in addition to parking space for 150 cars and 10 electric vehicle charging stations.
Mimar, a leading architectural and engineering consultancy firm with more than 25 years of extensive experience in the Middle East and North Africa region, was signed up for designing the masterplan, while Al Rehab Building Contracting was awarded the construction contract for the AED55 million project.
First Security Training Centre will be able to train 500 students at one time and prepare them for examination and eventually obtaining certification by regulatory authorities.
“Security as a business is becoming more sophisticated and challenging due to digitalization of all business activities including private security where technology is determining the level of security and professionalism," said Major General (Rtd) Sharafuddin Sharaf, the Chairman and Board Member of First Security Group at the ground-breaking ceremony held in the presence of other board members..
"This is why security professionals will have to undergo regular and rigorous training from time to time," he noted.
Private security service refers to activities including providing physical security, surveillance, monitoring, access control, personal protection, investigation, security consulting, risk assessment and security training.
Revenue in the Security Services market in the Gulf region is projected to reach hundreds of millions of dollars in 2024, according to Statista.com, a global market intelligence service provider.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 5.32%, resulting in a market value of $812.80 million by 2028. The average spend per employee in the security services market is projected to reach $21.22 in 2024, stated the report.
Global private security market size was valued at $224.49 billion in 2022 and is projected to grow from $235.37 billion in 2023 to $338.23 billion by 2030, according to Fortune Business Insights. Demand for private security services are growing day by day due to the influx of Ultra High-Networth Individuals (UHNWI) into the GCC, especially Dubai.
“In the coming years, security service will become completely different from what it is now – driven by technology. Security professionals will have to undergo a sea change in their grooming, learning, understanding of the requirements and then prepare themselves to serve the customers," observed Sharaf.
"Our advanced security training centre will ensure that the security officials receive regular training on newest challenges and are fully equipped with the latest innovative solutions. This will be the region’s first such security training centre," he added.-TradeArabia News Service
