Construction sector in MENA to achieve a growth of 80% by 2020, outpacing global growth rates
Facilities Management revenues could hit $816bn, driven by the MENA region’s $4.3tr of active projects to 2020, according to integrated FM solutions provider Imdaad.
The company, which has worked with Dubai’s Road and Transport Authority (RTA) to assist in maintaining the Emirate’s road network, plans to expand on the back of the predictions as the buoyant construction sector remains a catalyst for the FM industry over the coming 25 years.
“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” commented Imdaad COO, Mahmood 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,” Rasheed continued.
Leading the way are government initiated infrastructure projects, which will shift focus in the FM industry towards maintenance and management requirements for key infrastructure facilities, particularly in the UAE where $28.8bn was awarded in construction contracts last year.