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Safari Holding & HITEK Services sign exclusive PropTech deal

PropTech company offering property management solutions
The exclusive 5-year partnership permits Safari Holding to market HITEK’s in-house PropTech solutions throughout the Kingdom of Saudi Arabia.

Riyadh-based Safari Holding and HITEK Services have signed a five-year exclusive partnership. HITEK Services is a prominent PropTech company offering property management solutions. The company is also a member of the Farnek group. 

With the signing of the contract at Safari Group's headquarters in Riyadh, a portfolio of smart PropTech solutions will now be accessible to the Saudi Arabian market. These technologies include Computer Aided Facility Management (CAFM), and the Internet of Things (IoT). But they also include Building Management Systems (BMS), and carbon and energy management systems. The in-house technology team at HITEK created each of these solutions with a specific user in mind. These users include building owners, property managers, other facilities management (FM) service providers, and consultants throughout Saudi Arabia.

According to a recent Fortune Business Insights report, the Saudi FM market is anticipated to reach a value of $34.86 billion by 2030. Impressively, the executives at Safari Holding estimated the PropTech market share to amount to over $1.7billion of that.

KEY PROBLEMS THE PARTNERSHIP SEEKS TO ADDRESS

The expansion of residential, commercial, and industrial real estate in the Kingdom is advancing at an astounding rate. Safari Group, therefore, highlights three key problems that need solving to provide the best Integrated facilities management (IFM) solutions. First, the substantial investments being made in and the geographic expansion of the Saudi Arabian real estate market. Second, the continued rise in the development of smart buildings and smart cities. Third, supporting the government's goal of net zero energy consumption.

ADVANCED PROPTECH SOLUTIONS

Through leveraging HITEK’s innovative solutions, Safari Holdings will offer an enhanced end-user experience. The sophisticated digital solutions can interact with any current technology, like BMS. These will remotely activate several custom solutions, connecting smart, sustainable buildings with a workforce that is linked to the internet. Owners and occupants of larger buildings, complexes, and compounds will be able to use the services being provided to their advantage. Digitalisation will ultimately help to reduce expenses while also boosting efficiencies.

HITEK operates via a software-as-a-service (SAAS) business model that integrates advanced technologies. The technologies they use include the Internet of Things (IoT), Building Management Systems (BMS), Cloud, Machine Learning (ML), and Artificial Intelligence (AI). These are leveraged to connect people, assets, and spaces from multiple remote sites. Flexible, scalable, and analytical platforms are used to do this. These assist in aspects such as cleaning, security, maintenance, and sustainability.

Additionally, HITEK’s solutions promote operational effectiveness, employee well-being, and sustainability. But they also help to save clients a sizable sum of money. They do so by helping to reduce labour costs by up to 17%, and utility costs by 30%. But equally they can reduce asset life cycles by converting from conventional FM operational management to HITEK's smart management. So, the collaboration between Safari holdings and HITEK solutions is one that is anticipated to yield significant benefits within the Saudi Arabian real estate market.

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