MEFMA tackles outlook on GCC’s facilities management industry
Study shows expansion of construction industry and building automation among factors driving growth of regional FM market
The Middle East Facility Management Association (MEFMA), a provider of a dedicated platform for facilities management (FM) professionals, wider construction industry stakeholders, and owner associations, recently hosted a MEFMA Networking Event, which brought together several experts of the Middle East’s FM industry in Bahrain to continue the regional dialogues on the key elements that are driving the market. The networking event was held under the theme, ‘Future Outlook of the Facilities Management (FM) Industry in the GCC.’
Held on October 28, 2019 at the Wyndham Grand Manama Hotel, the event featured renowned speakers led by Tarek Nizameddin, Senior Executive Director (Commercial) of Ejadah and MEFMA Strategic Committee Member. During his talk, which covered the future outlook of the GCC FM industry,’ Nizameddin focused on the growth prospects in the GCC region’s FM market amid increased economic activities.
Jamal Lootah, President of MEFMA, said: “The GCC’s FM industry is poised for exponential growth. According to the estimates of Goldstein Research, its market value will hit the USD 71.4-billion mark by 2024, with a compound annual growth rate (CAGR) of 8.6 per cent. Some of the identified major growth drivers are the expansion of the construction industry and other large-scale development projects, the automation trend, and higher spending of the GCC governments.”
“Given this bright outlook, we, regional FM players, should continue to look for ways on how we can further optimize both current and future opportunities, while at the same time formulating effective solutions to challenges. This is why we continue to provide a platform where stakeholders can meet and share ideas. We brought the event to Bahrain because we wanted to showcase a host of growth prospects and the latest positive developments in the local market,” added Lootah.
Goldstein Research predicts that the market size of Bahrain’s FM market, which is still in its nascent stage, will exceed USD 2.3 billion by 2024, at a CAGR of 12.2 per cent.
Eng. Aaref Hejres, Chairman, Bahrain Property Development Association, said: “The middle east region especially the Arabian Gulf, is witnessing an urban development in conjunction with ambitious development plans based on economic diversification. Facility management is now emerging as an urgent requirement to improve operational efficiency using the latest technological innovations, while reducing the carbon footprint. In line with the growing trend towards making sustainability an essential pillar of overall development. This Networking Event was an ideal platform supporting Bahraini facilities management community with best practices that will improve the efficiency and sustainability of buildings. With the accelerated pace of implementation of real estate and construction projects in line with Bahrain’s comprehensive development path according “Vision 2030”. We highly appreciate the efforts of the Middle East Facility Management Association (MEFMA) to ensure the efficiency, sustainability and competitiveness of the local and regional facilities management sector.”
Apart from Nizameddin, the other speaker was Khaled Alshami, Director of Solution Consulting (Middle East & Africa), who discussed ‘The Benefits of Moving Asset Management Systems to the Cloud.’ A panel discussion moderated by Nizameddin followed the two main lectures. The panelists consisted of Aaref Hejres, Chairman, Bahrain Property Development Association (BaPDA); Khalil Al-Refaii, Planning & Work Control Leader, Saudi Aramco; Mohannad Almadhi, Managing Director, Musanadah FM; and Raymond Al-Salhani, Project Manager, Al Hajry Overseas Co. Ltd.
Al Hajry Overseas and Infor were the event’s main sponsors, while BaPDA was the supporter partner.