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Palms Sports Securiguard Middle East Wins AED 403 million

  • The contract will include a four-year base period, marking the continuation of an six-year substantial partnership with the UAE-based energy company.
  • The site security services contract and will continue to support on-site security functions for the energy company.

Abu Dhabi, UAE; September 21, 2023: Securiguard Middle East, the UAE based forefront of security industry in the region, and a subsidiary of Palms Sports (ADX: PALMS), announced today that it has been awarded a substantial AED 403.5 million site security service contract extending over four years, with a prominent UAE-based energy company. The contract can be extended for an additional two years in the event of satisfactory service, furthering Securiguard robust six-year partnership with the UAE-based energy company.

Under the new contract’s extension, Securiguard Middle East will deploy a team of more than 2,000 highly experienced and qualified security guards that will meticulously safeguard various facilities, areas, and sites throughout the Abu Dhabi Emirate. The company’s comprehensive security services, including vigilant surveillance, access control, risk management, and emergency response measures, will cover a wide range of locations.

“This award continues our long-term commitment and maintains the company’s growth, long-standing partnership and our industry’s market share in the UAE and the region”. said Fouad Darwish, CEO & Managing Director of Palm Sports.

The contract solidifies Securiguard’s stature as the preferred private security provider of choice in UAE and further propels the company’s strategic vision for operational expansion across all emirates, setting a new standard for excellence in the industry.

“Palms Sports is developing plans to accelerate and expand its investments in subsidiaries and the service segment. We are considering increasing our capital over the course of approximately three months to AED 165,000 million”. Darwish added.

Securiguard Middle East was fully acquired by Palms Sports in a AED 300 million transaction last June, demonstrating the company’s steadfast dedication to expanding its footprint in the dynamic world of security services.