Last Update: 21 December 2014 ,06:28 am
related news:
BBK donates to children's library
MANAMA - A BD 100,000 donation from BBK has brought to life a long-awaited project to promote and encourage reading amongst youngsters.
U.S. envoy sees growing trade ties with Bahrain
MANAMA U.S. ambassador to Bahrain William Monroe has given a speech on the free trade agreement (FTA) at a ...
Solidarity link-up with Chubb Group
MANAMA - Solidarity, one of the largest Takaful companies in the world, and Federal Insurance Company (Labuan), part of the ...
Mayadeen signs MOU to acquire assets in UAE
KUWAIT - National Ranges Company KSCC 'Mayadeen' announced today that it has signed a memorandum of understanding (MOU) to acquire ...
Remarks by head of NUSACC
The following is the remarks given by David Hamod, President and CEO of the National U.S.-Arab Chamber of Commerce, on ...
2nd phase of Saraya Aqaba construction signed
AMMAN - The second phase agreement of Saraya Aqaba construction contract was signed between Saraya Aqaba & Saudi Oger Ltd, marking ...
Emaar energises Syrian economy with customer-centric projects
DAMASCUS - Global real estate major Emaar Properties is energising the Syrian economy through country-specific and customer-centric projects. Emaar ha ...
Emaar signs MoU to develop Libyan special zone
TRIPOLI - Global real estate major Emaar Properties has further expanded its geographic reach in North Africa by joining hands ...
SAKANA housing solutions launches
Manama - Home ownership is set to become a reality for a larger proportion of house-buyers following the launch today ...
Riffa Views, Reef in cooperation mortgage deal
MANAMA Riffa Views Signature Estates has endorsed Reef Real Estate Finance Company as one of its selected mortgage financers, ...
This is a press release, Gulf Press did not intervene in drafting or editing it, neither verified its contents
Gulf facilities management market at $892
29 October 2006
DUBAI - New research just out shows that the facilities management (FM) market in the Gulf region will be worth an estimated US$ 892 billion over the next 25 years.
The figures released by Middle East Strategy Advisors (MESA) show that the FM market in the UAE alone is potentially worth US$ 704 billion, with the markets in Saudi Arabia and Qatar worth US$ 96 billion and US$ 92 billion respectively. Facilities management, which advocates an integrated approach to managing the built environment effectively, is still an emerging concept in the Middle East yet experts predict that the industry will eventually outstrip the regions booming construction business.
Organisers of the regions only exhibition dedicated to facilities management, FM EXPO, now plan to double the size of the event in 2007 to reflect the rapidly growing importance of the market. FM EXPO was launched successfully in Dubai in June this year and is organised by Streamline Marketing Group and dmg world media.
Streamline Marketing Group is also setting up an FM Business Group, in response to requests from the FM business community, and will be organising regular networking evenings to allow professionals from the industry to discuss issues affecting their business. The first event will take place in the Renaissance Dubai Hotel on November 6.
Sinad Bridgett, Project Manager, Streamline Marketing Group, said: The Middle East is experiencing phenomenal growth in construction, reflected in a plethora of exciting new projects and developments from hotels and resorts to airports, hospitals and massive commercial complexes.
In turn, this growth is fuelling an insatiable demand for much needed, high-quality facilities management with developers intent on optimising and protecting their investments. As a result the facilities management market from Jeddah to Dubai is set to enter a period of exceptional growth.
Facilities management is the integrated management of all types of built environments from commercial towers, resorts and hotels to oil refineries and hospitals. FM practitioners oversee the management of a building from its inception, providing a range of services including property strategy, building maintenance and operations, management of space, energy and communications infrastructure.
Experts in the field estimate that in the lifecycle of a building the design and construction phase only accounts for 20 per cent of the overall costs with the remaining 80 per cent being taken up by the operation, maintenance and management of the facilities.
Management consulting firm MESA has estimated that the total value of construction projects either planned or currently underway in the UAE, KSA and Qatar comes to US$ 223 billion putting the cost of managing the facilities over their lifecycle at US$ 892 billion. If existing developments are also included this figure could well be double.
Sinad Bridgett said: In the GCC alone facilities management is expected to rise significantly in the coming months and years due to the substantial expansion within the region coupled with the ageing of existing buildings, which undergo harsh weather conditions adding to their premature wear and tear.
FM EXPO next takes place from June 3 5, 2007 at the Dubai International Exhibition Centre alongside the Hotel Show, Office and InRetail exhibitions and more than 12,000 visitors are expected to attend the four events.
Organisers have set a target of increasing the number of exhibitors and exhibition floor space at FM EXPO by 50 per cent compared with 2006. Exhibitors will include companies from the environment, energy, health and safety, IT, maintenance, management, property services and security sectors in the Middle East, Europe and worldwide.

Copyright 2011, Gulf Press. All Rights Reserved Developed by