The role of FM at Cityscape Global 2016 in Dubai
fmME outlines what Cityscape Global 2016 held for the Middle East's FM professionals
While property markets around the world are characterised by transitory patterns, the GCC’s contemporary real estate market conditions pose opportunities and challenges that few regions can currently match. Expatriate and international investments are being sought by the Middle East’s property developers that, now more than ever, are conscious about the benefits of diversity in their customer base and portfolio.
Leading this evolution are the UAE’s property developers that are looking to capitalise on changing ownership trends. Just under two thirds of expats would consider purchasing property in the UAE, according to research released by compareit4me.com. A May 2016 survey conducted by the finance comparison site found that 64% of expats would consider buying real estate in the emirate, compared to just 46% of those questioned in 2015.
However, the situation is slightly different in Saudi Arabia, where in July, the Shura Council stated that expats are not allowed to buy property in Makkah, Madina, or Riyadh. According to Saudi Gazette, the decision covers non-Saudis, non-Saudi companies, and Saudi companies that have foreign shareholders.
Meanwhile, real estate owners in Oman have also called on the government to revisit its investment laws and procedures, Times of Oman reported in April. GCC neighbour Qatar is also witnessing price reductions in its rental market due to heightened expat outflow, DTZ reported in its Q2 2016 Qatar Real Estate Market study this July.
In this context, the timing of Cityscape Global 2016 is opportune indeed. As regional property markets strive to achieve profitability, such events present an ideal setting for industry leaders to shape the future of real estate in the Middle East.
CITYSCAPE GLOBAL 2016 – EVENT DETAILS
Tom Rhodes, exhibition director of Cityscape Global, says the UAE’s property market is currently ripe for long-term investments.
“There are signs of market conditions bottoming out, and there is a strong sentiment that we will see growth within the property sector in the coming months,” Rhodes tells fmME.
“The GCC and greater MENA regions are also affected by a series of socio-economic factors which have an impact on the property markets.
“For many buyers, this is the right time to invest, a sentiment which has been reflected in an increase of advance registrations to attend the show.”
When: 6-8 September, 2016
Where: Dubai World Trade Centre
Time for technology
FM tech asserts presence
“The FM industry covers a number of key areas during the build, completion, and future efficiency of a building that are more dependent on new technologies in the market place,” Rhodes says.
“This is becoming a growing area of focus for investors also who want to make sure that their assets will be well-maintained for years to come. As we see the FM industry growing and new technologies entering the market, industry experts are expecting increased involvement of FM professionals’ involvement throughout the life cycle of a project.
“With building owners keen to ensure their asset is well-maintained and operates to its optimum efficiency, the role of these new technology systems is vital,” Rhodes continues.
Cityscape Global 2016’s conferences are themed on ‘Discovering the future of real estate’, and will also feature a keynote presentation titled ‘The Disruptive Futures Reshaping the Property Sector’.
Yardi plans big return
Tech giant eyes mega deals
“We’re excited to be participating in Cityscape Global again this year,” Said Haider, regional director for Yardi Middle East tells fmME.
“I expect a good number of announcements and mega deals this year. I think the show will be bigger and busier compared to previous year’s event, and will have a positive impact on the market.
“Technology is continuing to evolve and is changing the way companies operate,” Haider continues.
“This year, we will be showcasing our flagship real estate platform, the Voyager 7S suite. The suite helps centralise operational, financial, leasing, sales, and maintenance management for the real estate life cycle in a single operating platform.
“In addition, we will demonstrate our latest analytics technology solutions – including Orion Business Intelligence – which provide in-depth [analyses] that allow real estate executives to improve decision making, minimise risks, and unearth valuable insights.”
Cityscape global for FM
Why should have you attended?
“We constantly hear that FM companies are not being considered until a later stage in the development process,” Rhodes points out.
“We believe Cityscape Global is the perfect platform for FM companies to create awareness about the importance of involving FM at an earlier stage of the operation life cycle.
“Cityscape Global gives FM companies the opportunity to showcase their services at the region’s largest real estate show, giving them direct networking access to all the developers exhibiting. This is an opportunity for FM firms to position themselves right in the middle of developers and architects demonstrating the long term cost saving and future returns on investment from the building’s life span.”
He concludes: “Cityscape Global has been a barometer for the real estate market for many years and acts as a confidence booster for investors, as all major players in the market come out in force to report on their progress and strength of the development pipeline.”
The full yard
Spotlight on tech tools
Haider outlines the top three highlights of Yardi’s property portfolio at the show.
“Yardi is meeting the data security and infrastructure needs of its rapidly growing client base in the Middle East. This includes opening a new data centre in Dubai to extend the Yardi Cloud;
We’ll also be introducing new features within several products, including Commercial LeasingPad, that will further help property managers and leasing agents visualise floor plans with lease areas, integrate with CAD drawing software such as AutoCAD, and access the unit data from the drawing itself; and,
Yardi professionals at Cityscape Global 2016 will continue to educate the market about the availability of real estate-specific operating platforms and [how they help] clients increase service levels while optimising financial performance,” Haider says.