UAE facility management market set for 8.5pc growth.

 

Middle East Facilities Management Association (Mefma).

Publicado por FAMASE el 30/08/2016 (ENG)




 



The facilities management (FM) industry in the UAE is expected to grow at a compound annual growth rate (CAGR) of 8.51 per cent between 2016-2021, according to a new report.



The facility management market in the country is anticipated to grow at a steady rate on account of huge infrastructure spending in the country ranging from residential to industrial sector, said the report by TechSci Research, a leading global market research firm.



The market will be driven by projects such as Abu Dhabi's emirate-wide Vision 2030, and Dubai Urban Development Master Plan 2020, it said.



"UAE Facility Management Market Forecast & Opportunities, 2021" report analyses the market of different types of facility management services and provides statistics and information on market sizes, shares and trends.



Due to hosting of World Expo in 2020 in Dubai, an amount of Dh8.174 billion ($2.22 billion) is estimated to be spent on infrastructure in the city. With six mega projects in the UAE namely Emirates roads master plan (to be completed by 2016), Etihad railway network (2018), Dubai Airport expansion (2018), Abu Dhabi Airport expansion (2017) Abu Dhabi Metro (2020), Dubai Metro expansion (2030) all together costing about $55.11 billion, the facility management market is going to measure a robust growth, it said.



Drivers and restraints



The rapid real estate and urban infrastructure development in terms of airports, roadways, ports and railways have resulted in increased demand for facility management industry.



The focus of the government to diversify its economy other than the oil sector has boosted the growth of facility management market. Apart from upcoming new buildings and infrastructure facilities, the maintenance of old buildings and facilities has provided opportunity for the facility management industry, it said.



Due to high standards laid down by the Middle East Facilities Management Association (Mefma) and the Real Estate Regulatory Agency (Rera), there has been stiff competition between the different facility management companies to lead in the market keeping in the view the best quality, practices and standards. Another biggest challenge faced by the facility management companies is overcoming inflationary issues in the region../..



More info and original published by tradearabia


 

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