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Singapore, Singapore, 2009/11/11 - The Vietnamese integrated facilities management (IFM) services market is poised grow, thanks to a spate of construction activities, especially in the commercial office space in cities such as Hanoi and Ho Chi Minh City.
In fact, in Ho Chi Minh City, grade A office space is likely to increase to three times its current size between 2009 and 2011. Hanoi is also expected to experience signification expansion of office space in 2009, and the overall occupancy is projected to be around 90 percent.
New analysis from Frost & Sullivan (buildingtechnologies.frost.com), Integrated Facilities Management (IFM) Services Market in Vietnam, finds that market earned revenues of $1.2 million in 2008 and estimates this to reach $12.9 million by 2015.
The presence of multinational companies in the country will considerably up the ante in the construction industry, as they will be more inclined to use state-of-the-art technologies in their commercial buildings. Not only will these buildings be more technologically advanced, but their facilities will also be managed more professionally.
"As the new buildings will have to adhere to stringent environmental norms, the demand for environmental consulting, as part of the IFM service offering, is anticipated to swell," says Frost & Sullivan Research Analyst Ranajay Dasgupta.
While IFM service providers will be heartened by the opportunities opening up, their market expansion plans will be hampered by the low awareness levels of their potential customers.
Building owners are reluctant to outsource the entire management of their facility to expensive third-party IFM service providers and instead, prefer to manage them in-house or out-task to specialized facilities management service providers such as cleaners or security service providers. This is because in Vietnam, facilities management is considered no different from routine cleaning and maintenance tasks.
"IFM service providers have to educate their potential customers about the long-term benefits of their value-added services compared to the regular cleaning or security services," notes Dasgupta. "They should highlight their expertise in energy and cost management to address the rising concern about pollution and energy conservation."
If you are interested in more information about this study, please, then send an email to Donna Jeremiah, Corporate Communications, at djeremiah[.]frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state and country.
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Integrated Facilities Management (IFM) Services Market in Vietnam / P2E9