Mena new projects will total $4.3 trillion
Dubai, September 10, 2012
Around $4.3 trillion worth of construction projects will be undertaken across the Mena region over the next decade, representing a growth of 20 per cent through 2020, said an industry expert.
The construction sector will remain a key growth catalyst for the facilities management (FM) industry, driving long-term market revenues in the GCC to reach up to $816 billion within the next 25 years, added Mahmood Rasheed, COO, Imdaad, a leading FM solutions provider in the GCC.
Government-led infrastructure development initiatives will account for a large share of the construction expenditure in the region, prompting FM companies to focus on integrated FM solutions that cater to the specific maintenance and management requirements of key infrastructure facilities, said Rasheed.
The UAE in particular, represents a key growth destination as recent statistics reveal that over $28.8 billion in construction contracts were awarded in 2011 alone, accordingly driving the demand for specialized FM services in the country.
“The construction sector in the Mena region is expected to achieve a growth of 80 per cent by 2020, outpacing the global growth rate of 67 per cent during the same period,” said Rasheed.
“This represents a huge window of opportunity for the facilities management industry to expand and cater to the corresponding surge in demand for specialized FM services. Major construction projects now increasingly integrate facilities management concepts and techniques, underlining the growing importance of strategic FM in the lifecycle of key projects in the region.
“Imdaad continues to realign and reassess its growth and expansion strategy across the GCC to be able to complement the steady growth of the region’s construction industry,” he added. – TradeArabia News Service