Monday, August 13, 2007

Realty owners in Dubai look for better quality services

Facilities Management
A leading industrial expert is reported to have commented that the Middle East is witnessing a new property owner profile, which demands higher standard and quality in building services, security, energy usage and environmental impact. This is due to the fact that emirates throughout the region are open to various levels of foreign ownership, be it leasehold or freehold, and this is making way for a new trend.

The financial sector is one of the leaders in this new trend. More number of financial institutions, both regional and international are employing staffs who are aware about an effective facility management. Farnek, for instance, has more than 500 buildings that cover a floor space of over one million square meters. It provides security protection for over 100 properties and keeps 100 installations operational, and claims to be able to keep up a building's energy cost by 25%.

Though the estimates may not be the same, the Frost & Sullivan Middle East Survey suggests that facilities management market in the region will grow from US$200 million during 2006 to US$576 million by 2012, with UAE, Qatar, Oman, Bahrain and Kuwait, as major leaders in this path.

Though facilities management in the Middle East is still in its initial stages, it is progressing relatively fast, and will soon outstrip the booming construction industry in the region. With the induction of more buildings for leasehold and freehold, more managers and property owners are actually looking at the life-cycle cost of their buildings.

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