Video: Construction Week In Focus | Managing Dubai's new homes
S02E05 of Construction Week's YouTube bulletin explores if the city's facility and property managers are ready to manage 22,000 new homes by the end of this year
Close to 22,000 homes could be handed over in Dubai by the end of 2018, but are property developers and managers ready to deal with this influx?
Core Savills recently revealed that a "conservative estimate" of 21,500 homes could be delivered by the end of this year in Dubai.
SCROLL DOWN TO WATCH THE VIDEO
For facility management (FM) and property management companies, this development is positive in terms of volume of work. Obviously, more units means FM companies will be busier, and those that already have large residential portfolios will be at an advantage.
The FM market might even see more jobs and vacancies opening up in the months to come. FM company Emrill has already increased staff numbers by 1,000 in the last 12 months.
On the other hand, property managers might have to come up with more aggressive strategies to stand out in the market given how competitive it could become. So, developers must pay attention to the unit sizes and prices that buyers seem to prefer, and they must then ensure timely completion and handover.
Additionally, they must also pick FM companies that have an impeccable record with residential properties. Tenants and buyers are often vocal about their residences and owners associations, so if developers and landlords don’t provide high-quality services, they might see its impact on their market performance.
In the latest episode of Construction Week In Focus, Neha Bhatia, editor of Construction Week, and Nikhil Pereira, deputy editor of facilities management Middle East, reveal why developers must look beyond the construction schemes of their properties to ensure the long-term growth of their business.
Construction Week In Focus is a weekly bulletin of the Middle East's top news from the real estate development, contracting, MEP, facilities management, and equipment sectors.
Subscribe to the Construction Week channel for the latest from the region's construction sector.
Construction Week In Focus episodes are published each Tuesday at 9am.