EFS Facilities Services, a leading provider of integrated facilities management services in the Middle East and Africa (MEA) region, said it has secured over $1 billion worth of contracts globally, for the first time in its history.

The significant milestone was accomplished on the back of the project wins worth $200 million this year covering various key markets, including the UAE, Saudi Arabia, Qatar, and India.

EFS also strengthened its revenue stream amidst an overarching economic slowdown in the region, achieving steady and robust revenue growth, representing 21 per cent CAGR (compound annual growth rate) growth in revenue in the last five years, said a top official.

"We are extremely delighted to have crossed the psychological (and financially significant) barrier of $1 billion in ongoing contracts backlog," remarked Group CEO Tariq Chauhan.

"This was a major milestone that we’d set for ourselves and we are proud of the sincere efforts, motivation, and innovation that EFS personnel have demonstrated to our clients across the region," noted Chauhan.

"The satisfaction and trust that we’ve earned from our clients is one of the significant influencers that has helped us expand our global operational footprint to cover more than 20 key markets across MEA and South Asia (SA)," he stated.

"Our business progress is best demonstrated by the fact that today, we manage over 350 million sq ft of built-up commercial and residential space for several Fortune 500 companies across the MEA and SA region," observed Chauhan.

"Our client retention rate of 97 per cent, and the sustained growth of our revenue stream in the last five years, perfectly demonstrate our regional market leadership position," he added.

On the 2017 outlook, Chauhan said: "We have earmarked it as a year of consolidation of our business fundamentals, and strategic expansion into newer markets and lucrative sectors, to fuel our growth. We foresee sustained mid-term growth in our key markets of the UAE, Saudi Arabia, Qatar, Egypt, and India, driven by the rising demands of growing population."

"We will also infuse new ideas and fresh out-of-the-box thinking by growing our global workforce which currently exceeds more than 15,000 skilled and experienced personnel. 2017 will also be the year where we reinvigorate the training and development of our employees to empower us to evolve and enable us to move ahead onto the next phase of growth," he added.-TradeArabia News Service