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Competition in Egypt’s FM increased by 60% among local companies: TMG - Daily News Egypt

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Competition in Egypt’s FM increased by 60% among local companies: TMG

Issam added that competition within the FM sector in Egypt is growing rapidly as a result of the accelerated pace of urban development, and the competitiveness rate has increased by at least 60% among local companies.


The future of the domestic facilities management (FM) sector is based on the emerging trends and new developments at the local and regional levels, said Mohamed Issam, Managing Director – Facility Management, Talaat Moustafa Group (TMG).

Issam added that competition within the FM sector in Egypt is growing rapidly as a result of the accelerated pace of urban development, and the competitiveness rate has increased by at least 60% among local companies.

“We can say that real estate companies are increasingly adopting management best practices, with leading companies in the Egyptian market recognising the important role of management and maintenance functions in improving performance and efficiency”, he noted.

“Meanwhile, new companies will still need some time to gain an in-depth understanding of the importance of FM.”

Developers are upbeat about the development prospects of the FM sector in Egypt, which will undoubtedly witness a significant growth over the next few years to become a prominent market in the Middle East. This is especially in light of the efforts exerted by the Middle East Facility Management Association (MEFMA) to facilitate the contribution of FM in order to meet the growing development needs locally and regionally, he elaborated.

Issam pointed out that during the last five years, Egypt witnessed a remarkable development in the field of urban development, which necessitated intensified awareness efforts to educate real estate developers, engineering and other professionals, students, and graduates of the importance of FM.

Such efforts have become even more relevant in view of the emerging challenges and an urgent need to enhance their capability to effectively handle management and maintenance operations that would boost performance, while also reducing operational costs and rationing energy consumption, according to Issam.

 

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https://wwww.dailynewssegypt.com/2019/09/17/competition-in-egypts-fm-increased-by-60-among-local-companies-tmg/
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