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Mammoth Construction Projects Uplift Prospects for the Facilities Management Market in the Middle East Finds Frost & Sullivan - The facilities management (FM) market in the Middle East has been growing in leaps and bounds, fuelled by ongoing multi-billion dollar construction projects
Mammoth Construction Projects Uplift Prospects for the Facilities Management Market in the Middle East Finds Frost & Sullivan

 

NewswireToday - /newswire/ - Dubai, UAE, United Arab Emirates, 2010/03/02 - The facilities management (FM) market in the Middle East has been growing in leaps and bounds, fuelled by ongoing multi-billion dollar construction projects.

   
 
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Multinational companies are setting a benchmark in terms of operations, bringing their facilities on par with international standards. Green building techniques, which involve professional maintenance of buildings are gaining traction and opening up new avenues for FM companies. As most end users lack the in-house expertise to handle professional facilities management, the scope for the FM market has widened considerably. Another important driver is the transfer of risk to a third party.

New analysis from Frost & Sullivan (buildingtechnologies.frost.com), Analysis of Facilities Management Market in Middle East, finds that market earned revenues of over USD 3,500 million in 2008 and estimates this to reach USD 8,000 million in 2013.

If you are interested in more information on this study, please send an email to Tanu Chopra / Nimisha Iyer, Corporate Communications, at tanu.chopra[.]frost.com / niyer[.]frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state and country.

"The FM market in the Middle East is in the infancy stage when compared to other developed regions such as Europe and North America," says Frost & Sullivan Research Analyst Suganya Rajan. "This creates abundance of opportunities, and the sheer size of construction happening is a testimony to the excellent future of facilities management in the Gulf region."

In the FM market, great stakes are placed on building owners' knowledge of the potent advantages of outsourcing these services. Management services, when outsourced, allow the end-user to focus more on their core activities.

Despite the demand upswing for FM and its increasing popularity, the market was heavily impacted by the economic recession. Some construction projects have been shelved; and end users were skeptical about drawing up any new contracts. Companies are struggling to keep their costs low for long-term contracts. During 2008, the number of contracts equaled that of 2007 though the value of the contracts was small.

Manpower cost is also a serious concern for FM companies. "Though manpower is in abundance in this region, the cost involved in recruiting and managing the workforce is quite high," says Rajan. "This is mainly due to the immigrant workers whose work permit issues and accommodation are taken care of by the employers."

With labor laws getting stricter, manpower cost is continuing on an upward trajectory. Also, end user perceptions of FM services are also clouding market prospects. Many end users and building owners consider FM services an extravagance as it overburdens their budget End-users have failed to understand that FM services enhance the lifecycle of a building and help reduce maintenance costs in the long run.

Labor issues and inflationary pressures have been overcome by remodeled strategies and creating awareness about the monetary benefits of deploying professional FM services to contain maintenance costs. Inflation, a consequence of high oil prices, has been influencing the profit margins of many facilities management companies since the beginning of 2008. Reducing the consumption of natural resources such as water and power is another prominent issue that requires attention in this region.

Adapting to local market conditions and providing competitive pricing will be the special challenge for multinational companies that are keen on entering this arena. Considering the overall scenario, FM companies should unleash industry best practices to stay ahead in the market. FM companies should remain flexible in order to provide customized services to cater to the evolving needs of clients. Adopting advanced technology will help FM companies to add value based service and sign more lucrative contracts.

Analysis of Facilities Management Market in Middle East is part of the Building Management Technologies Growth Partnership Service program, which also includes research in the following markets: Strategic Analysis of Indian fire and Gas Detection Market, North American HVAC Air Filters Market, and Analysis of the District Cooling Market in the Middle East Region. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from 40 offices on six continents.

Analysis of Facilities Management Market in Middle East / P30B

Contact:
Ravinder kaur
Corporate Communications – South Asia
P: +91 44 4204 4760
F: +91 44 24314264
E: ravinder.kaur[.]frost.com.

 
 
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Mammoth Construction Projects Uplift Prospects for the Facilities Management Market in the Middle East Finds Frost & Sullivan

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