Securiguard Middle East, a subsidiary of the Abu Dhabi-listed Palms Sports, announced it entered a 109.7 million USD services contract with a UAE-based energy company, to provide site security over four years.
Palm Sports is considering securing capital investment at AED 165 million in its subsidiaries by the fourth quarter of this year.
The Securiguard Middle East will provide more than 2000 security guards at different facilities across Abu Dhabi, according to a company statement.
It is noted that the company was acquired by Palms Sports in an AED 300 million transaction last June.
Securiguard Middle East will offer surveillance, access control, risk management, and carry out emergency response measures.
“Palms Sports is developing plans to accelerate and expand its investments in subsidiaries and the service segment,” Fouad Darwish, CEO and Managing Director of Palms Sports, said.
Darwish adds: “We are considering increasing our capital over the course of approximately three months to AED 165 million.”
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