Concordia has enjoyed a high client retention rate of 97% on the back of operating in a “transparent manner”. Bhatia says that’s also been the secret to maintaining lasting relationships with some of its clients for 11 years.
“As for new business, 2018 has been successful for us. We were able to secure multiple contract in Dubai Marina, Palm Jumeirah and Jumeirah Lakes Towers. In the past three weeks we have mobilised multiple IFM contracts in our target areas. Apart from IFM contracts in various high-rise towers, we have expanded our services to several local and multi-national corporates occupying large spaces,” Bhatia notes.
Apart from the growth in the real estate sector, which is partly driven by Expo 2020, Concordia believes that the management of occupied space would be a growth driver. “We also see high potential in specialised services that include energy management, parking management and fit-out. The challenge within the FM industry remains availability of quality staff, procurement methods of organisations which only focus on cost and not value and the general economic forecast and effect of the geo-political landscape,” he adds. Looking at the future, Concordia is working on diverse contracts that cover different industry sectors, developers, government entities, owners associations and asset management companies in the UAE.