by Rebecca Walker — December 31, 2008—The facilities management industry in the UAE remains upbeat, with a projected value exceeding $10 billion by 2012 despite the current global financial crisis, said an industry expert.
Sungwon OBO, a member of Makateb Holding, said it continues to generate strong business leads and was expecting a growth rate of between 15 to 20 percent within the next three years.
The company pointed out that those providing core services were expected to withstand the downturn because of the strategic and critical importance of their services to the economy.
Sungwon OBO chairman Wahid Attallah said the UAE’s facilities management sector remained a popular destination among international investors, citing the newly developed partnership between Makateb and Sungwon Development, the pioneering facility management company in South Korea which is now the Facilities Management Division of Makateb.
Despite the slowdown in real estate development, there are already several existing properties and many more that are poised to be delivered within the next year or two, clearly representing a healthy growth potential for Sungwon OBO and the rest of the facilities management sector, he said.
For more information, see the Sungwon OBO Web site.
