The government services firm expects to tap into bigger demand as the economy grows.
Musanada expects maintenance service growth as Abu Dhabi economy grows
Musanada, a property-services company responsible for overseeing and maintaining Abu Dhabi government buildings, expects to increase its maintenance services by 30 per cent over the next 12 months as the emirate’s economy expands.
The UAE economy is projected to grow by 3.9 per cent this year, according to the IMF.
“[The UAE’s] is a growth story that has substance, and it’s gaining momentum,” said Simon Williams, HSBC’s chief economist for the Middle East and North Africa. “A significant recovery in infrastructure spending in Abu Dhabi” was behind the gains, he said.
Musanada increased its revenues by 34 per cent last year.
The Government awarded Musanada Dh667 million for maintenance, building rehabilitation work, and agriculture, compared with Dh496m of contracts last year.
The number of government properties it maintains has increased by 16 per cent over the past two years. It directly manages 3,300 buildings in Abu Dhabi and provides maintenance services to an additional 5,500.
The company is owned by the Government and submits tenders to third-party contractors. Last year it awarded 70 contracts to about 50 contractors, the majority of which were international firms working with UAE partners.
Musanada is a non-profit company and evaluates the cost of tenders before receiving funds from the government.
This included Dh197m of work orders, which are one-off requests for maintenance tasks.
The company maintains more than 2,000 mosques, including the Fatima bint Mubarak mosque in Mohammed Bin Zayed City, and 64 schools.
In December, the company signed a contract with several construction firms to organise work on a new road between Abu Dhabi and Dubai. The 30-month project will connect Mohammed bin Zayed Street to Dubai through Al Sweihan Road.
It has also implemented a deal to build a 719-bed hospital in Al Ain, having procured construction services from Arabtec and Spain’s Sanjose Constructora.
The company was founded in 2007 after the Abu Dhabi Government Restructuring Committee recommended establishing a company to provide shared services for state-owned properties.
The company has 111 employees and was established in 2007 to provide shared services to the government of Abu Dhabi.
“Musanada is keen to provide high quality services to all government departments in accordance with the highest international standards, using the latest technology, and in conformity with international best practices,” said Saif Fadel Hamli, Musanada’s executive director of business services.