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Region's USD 172 billion construction sector to drive FM market to USD 892 billion mark in 25 years
Dubai, UAE - Imdaad, a leading provider of integrated facilities and waste management solutions in the GCC, has revealed its strategic growth plans that will complement the region's bustling facilities management sector. It has announced that growing awareness among consumers about the benefits of facilities management (FM) along with governments' interest in sustainable initiatives have accelerated the global FM sector. The realisation that management and maintenance - including for energy - accounts for up to 80 per cent of total building cost while development takes up just 20 per cent has been the major driver for the sector's unprecedented growth.
The global FM market is estimated to touch USD 394 billion by 2017 while the GCC's will expand at a compound annual growth rate of 4.1 per cent to USD 892 billion in the next 25 years. Within the region, the USD 172 billion construction sector (Deloitte 2015) has created lucrative opportunities for local, regional and international FM companies. The FM sector in the Kingdom of Saudi Arabia (KSA) is currently valued at over USD 20 billion and growing at 10 per cent per annum to become the region's biggest market. The UAE market, on the other hand, is set to be worth USD 5.4 million in 2015 and is moving towards integrated solutions where companies offer informative, transparent and ultra-modern services to its clients.
Jamal Lootah, CEO, Imdaad, said: "The world has finally realised the true potential of the FM industry in creating an optimal, safe, healthy and 'green' environment which benefits occupants and facility owners alike. A proper implementation of FM plans can result in increasing a building's lifecycle and performance, reducing operational cost, increasing revenue, and saving considerable time and efforts. While Europe and the US are mature FM markets, the concept is still in the nascent stages in the GCC. However, the outlook for the region's FM industry is bullish due to the regional governments' emphasis on 'smart' and sustainable solutions; growth in construction of high-rises and vast mixed-used developments, all of which require specialised FM services; and the growing consumer awareness. Imdaad is looking to play a major role in the growth of the region's FM industry by introducing breakthrough technologies and innovative concepts such as Material Recovery Facility and Polished Water Plant."
Imdaad has gained a strong reputation in the region as an adopter and implementer of the latest FM technologies and practices. The company acquires eco-friendly equipment and prioritizes sustainability across all its operations. It also conducts recycling training for its clients, corporate partners and staff, in addition to providing free recycling bins in certain projects where it handles waste management and collection services.
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© Press Release 2015
