GCC's FM underdeveloped but gaining momentum
The IFM provider expects numerous opportunities in UAE market, which despite the oil price slump, is forecasted with 2.5% economic growth
Imdaad released a statement stating that the GCC’s facilities management sector, while still undeveloped as compared to other global market, is still developing fairly quickly.
The company highlighted increased interest in well-maintained buildings, and renewed interest in fire safety practices and technologies as some of the key drivers.
Pointing to a recent business confidence survey conducted by the British Institute of Facilities Management of the region’s FM market, roughly 61% of respondents believed that their workforce will expand over 2016.
The survey found that UAE was seen as the GCC’s most developed FM market, closely followed by Saudi Arabia and Qatar.
Additionally, 36% of participants indicated that their FM is completely outsourced, while 60% expect that more FM operations will outsourced in the future.
Jamal Abdullah Lootah, CEO, Imdaad, said: “There is definitely a lot of room for growth within the GCC’s facilities management sector. We can expect more business from a diverse client base as the industry continues to mature and catch up with its global counterparts.”
He added: “The bottom line is that the industry needs to maintain balance between exercising caution amidst challenging market conditions and planning for growth in what is basically still an underdeveloped GCC FM landscape. The next few years will provide an important learning period for the business.”