Power Factor Electromechanical Works secures new contracts worth AED 50 million
Power Factor Electromechanical Works, a subsidiary of Masharie, the private equity arm of Dubai Investments PJSC, has secured contracts to provide the complete mechanical, electrical and plumbing (MEP) works for three new projects in the UAE – two residential and commercial towers in Sharjah and one in Dubai. The contracts have a combined value of AED 49.8 million.
A leading provider of turnkey MEP solutions in the region, Power Factor will execute the projects in association with Al Arif Contracting, who are the main contractors for all the three projects.
“At Power Factor, we are always seeking to improve our competitive advantage by providing clients an enhanced value proposition,” said Hesham Ismail, General Manager of Power Factor Electromechanical Works.
“Even as many companies remained passive in their strategic response to the market downturn, Power Factor continued to focus its efforts on increasing its operational efficiency and business agility,” Hesham Ismail added. “This proactive approach has allowed us to successfully capitalize on new market opportunities.”
The new projects secured by Power Factor include a 23-storey residential and commercial tower located in Dubai Sports City, a 25-storey residential and commercial tower in Al Khan, Sharjah and 18-storey commercial tower in Al Mamzar, Sharjah.
Based in Dubai, Power Factor offers the entire spectrum of MEP works and also specializes in the design, installation and commissioning of Low current systems. The company focuses on developing advanced technology solutions suitable for a broad spectrum of markets including transportation, banking, telecommunications, Defence, universities, hospitals, and retail.
Masharie, owning 50% equity share in Power Factor, has an investment portfolio of 17 companies in diversified sectors including chemicals, aluminum, electrical and, construction materials and services.
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