PRTODAY / NewswireToday Free press release distribution service network

Written by / Agency / Source: BIZ COM - PRoactive Communications

Check Ads Availability|e-mail Article


Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

Regional BMS Product Sales to Treble to $220 Million by 2012 - Market for Building Management Systems in the Middle East Booming
Regional BMS Product Sales to Treble to $220 Million by 2012

 

NewswireToday - /newswire/ - Dubai, UAE, United Arab Emirates, 2007/09/29 - Market for Building Management Systems in the Middle East Booming.

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Real Estate/Property Management Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

The series of construction projects invariably underway in the Middle East backed by high oil revenues, easing property laws and the effort to diversify local economies has stimulated the market for Building Management Systems (BMS) in the region.

“Excluding Saudi Arabia, the GCC market for BMS products was estimated at AED 301 million ($82 million) in 2006*,” according to Chris Fountain, Event Director of UK’s CMPi, organisers of Working Buildings Middle East, which is scheduled to take place in the Abu Dhabi National Exhibition Centre from 10 to 12 December.

Mr. Fountain noted that this figure does not include installation, which would add an estimated additional 15-20% on top of product revenues and excludes after sale services. “The overall market is forecast to almost treble and reach around AED 810 million ($220.6 million) by 2012, growing at a CAGR (compound annual growth rate) of 17.9%. This is an impressive growth, especially when compared to Europe, where the market is growing at a CAGR of less than 2% over the same period,” remarked Mr. Fountain.

The major driver behind the growing market for BMS products in the GCC countries is clearly the continuous need for and investment in construction. While in the past only every other building opted for a BMS, today it is a must for every one of them. This is not only for the sake of comfort or because of the potential for reduced operation costs and energy consumption, but more importantly, the high number of luxury developments could not really function without such an essential device.

“Also, as large projects turn into so-called mega developments - where whole cities or islands with both commercial and residential complexes grow out of nowhere - a BMS system becomes critical to connect the buildings as well as ‘the city’,” observed Mr. Fountain.

Comfort is the current top priority of BMS features. This is particularly important in a region, where due to its climate, the use of air-conditioning equipment is exceptionally high. However, in the longer term, BMS products could be increasingly used for optimised energy consumption, too.

At present, most of the opportunities lie in the emirates, where although Dubai is still the largest and one of the fastest growing markets in the Middle East, Abu Dhabi is rapidly picking up.

Another emerging market is Qatar. Growth is expected from the relaxation of property laws, which now allows foreign nationals to own freehold title to any real estate, and the attempt to diversify the country’s economy away from oil. The market for BMS is likely to grow exceptionally fast in the next few years. Although starting from a relatively low level, the current market size is forecast to quadruple by 2012.

Even though Oman is a large country, its BMS market is relatively small, due to the low number of ongoing construction projects. In the past most of the projects were in the public sector and funded by the government. There has been a recent shift towards tourism related developments, as the country tries to follow the steps of its neighbours and increase the sector’s contribution to the national GDP. However, this can be a difficult task having to compete with other more liberal destinations, such as Dubai in its close proximity.

The remaining GCC countries, namely Kuwait and Bahrain, are relatively mature markets with less impressive growth potential.

Working Buildings Middle East will provide a valuable opportunity for local and international companies to showcase their products and services to the increasingly important Middle East market. The new event has been designed to target all those involved in the management and maintenance of buildings and property. Working Buildings Middle East will explore the latest products, services and best-practice examples relating to the complete life cycle of a building.

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Real Estate/Property Management Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Written by / Agency / Source: BIZ COM - PRoactive Communications

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick Newswire Today Visibility Checker

 

Distribution / Indexing: [+]

 
 
# # #
 
 
  Your Banner Ad showing on ALL
Real Estate/Property Management articles,
CATCH Visitors via Your Competitors Announcements!


Regional BMS Product Sales to Treble to $220 Million by 2012

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name Newswire Today and LINK as the source.
 
  Is this your article?
Activate ALL web links and social stream by Upgrading to Press Release PREMIUM Plan Now!

|
Publisher Contact: Mark Biveira 
+9714 3124496 info[.]integrated-identity.com
 
Newswire Today - PRZOOM / PRTODAY disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any BIZ COM - PRoactive Communications securities in any jurisdiction including any other companies listed or named in this release.

Real Estate/Property Management via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY



Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!


Read Latest Articles From BIZ COM - PRoactive Communications / Company Profile


Read Real Estate/Property Management Most Recent Related Newswires:

Ede Costa Team Joins Berkshire Hathaway HomeServices California Properties
Berkshire Hathaway HomeServices California Properties Opens New Office in Brea
Berkshire Hathaway HomeServices Nevada Properties Opens New Southwest Las Vegas Office
Berkshire Hathaway HomeServices Nevada Properties Appoints New Las Vegas Branch Manager
Homenova, Inc. Launches A Website for Private Home Sales
Real Estate Executives Appointed to GLVAR Board in Nevada
Westcorp CFO Named Top Tech Exec in Nevada
Berkshire Hathaway HomeServices Arizona Names New Manager
Berkshire Hathaway HomeServices California Properties Names Larry Tait Yorba Linda Branch Manager
Progressive Realtors Launches New Website to Connect Home Buyers & Sellers
Americana Holdings Forms Alliance with ListHub Global in Three States
Manhattan Boutique Real Estate Joins South China’s Leading Luxury Property Show
17th Annual Kansas City Pagan Pride Day - Harvest Festival and Craft Faire on September 13th
Celebrity Staging Expert Announces Ask The Stagers Platform
Berkshire Hathaway HomeServices Arizona Properties Welcomes Hamlet Terry Team

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
NewswireToday Celebrates 10 Years in Business


PREMIUM Members


Visit  JobsWare.com

Visit  Triggr & Bloom





 
  ©2016 Newswire Today — Limelon Advertising, Co.
Home | About | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR free press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneurs newswire distribution prtoday.com freenewswiredistribution asianewstoday bizwiretoday USA pr UK today - NOT affiliated with PRNewswire as we declined their partnership offer in 2013
 
PRTODAY & NewswireTODAY are NOT affiliated with USA TODAY (usatoday.com)