Facilities management pivotal to Memon's success
Facilities management plays pivotal role in the firm's Ajman projects
As privately owned property company Memon Investments looks to Ajman’s real estate offering for upcoming projects, managing director Ahmed Shaikhani recognises the importance of integrated facilities management in its development plans in the emirate.
“Yes, we are currently considering Ajman’s high profile city developments as locations for our upcoming developments.
“Facilities management will play a pivotal role in ensuring maximum efficiency and cost savings factored in through the commissioning and operation phases,” said Shaikhani, who predicts the UAE property sector will pick up back-end 2009, stabilise by 2010 and start to rise early HI or Q2, 2011.
“Indeed, we are also expecting the sector to continue to expand as developers find comfort in the drop of commodity prices and construction costs, which encourages them to push ahead with projects.”
According to Shaikhani, the trend for real estate developers this year is leaning toward project completion first.
That, he said, means the commercial towers, resorts, hotels and hospitals coming on stream will have to be managed in accordance with Ajman Real Estate Regulatory Authority’s decree No 11, 2008, aimed at regulating the emirate’s real estate sector.
“Developers must have escrow bank accounts to protect investors’ rights and ensure property is maintained and managed to remain an asset throughout the lifecycle.”