Cutting corners on maintenance can hit property re-sale values

Published June 3rd, 2008 - 12:41 GMT

Cutting corners on maintenance can hit property re-sale values
 
Leading FM companies to convene at FM EXPO
 
As the UAE construction boom continues, developers were warned today that they risk significant long-term losses in re-sale value by cutting corners on maintenance.
 
Paul Anson, Director of Dubai-based facilities management specialists Operon, said developers who are not prepared to invest in professional property maintenance can suffer in the same way as motorists who take their cars to cheap back street garages.
 
“Properties that are kept under a strict regime of planned maintenance and lifecycle replacements instead of ‘man in a van’ maintenance will fare better in the second hand property market,” said Anson, whose company will be among the big international line-up of exhibitors at FM Expo in Dubai next week.
 
“When individuals decide to save a few dirhams by maintaining their cars in back street garages, they will have no service history or genuine parts and they will see a severely reduced second hand value. In real terms, they haven’t saved a few hundred dirhams in annual servicing costs, but in fact have lost thousands and the car’s resale value will be significantly affected.”
 
Anson said the same principle applies to the management and maintenance of buildings, and large developers in the UAE are starting to realise the benefits of partnering with experienced FM companies to give them a competitive edge over the long-term.
 
The ongoing construction boom in the UAE and the Middle East is building a huge demand for experienced FM companies who can provide expert advice in the planning stages of a building and help property developers to maximise profits over a building’s lifecycle.
 
This will be among many issues highlighted at FM Expo, the region’s leading facilities management event, taking place from 8-10 June at Zabeel Hall in the Dubai International Exhibition Centre.
 
“Property developers can benefit greatly from FM expertise at the planning stages of large projects,” said Catherine Penn, Business Development Manager of Emrill, FM company for Emaar Properties and Al Futtaim. “Developers who do not utilise the resources of an FM consultant at the design review stage run the risk of implementing systems and designs which reduce building systems efficiency and ultimately impact on life cycle costs of the project.”
 
Scott Wilson, Managing Director of Emcor, the FM company working with property developers such as Dheeraj & East Coast LLC, said: “The FM industry is taking off in this region because of the recognition by developers of the value add that experienced FM consultants and operators can bring to the design, procurement, commissioning, handover, and operations phases of real estate developments.
 
Organised by Streamline Marketing Group, FM Expo is the region’s premier exhibition dedicated to facilities management and has attracted high profile companies from throughout the region, as well as a large international presence with exhibitors from Germany, South Africa, US and the UK.
 
Launching alongside FM Expo, the new five day ‘Property and Facilities Management Conference’ will take place at the Dusit Hotel Dubai. The conference programme features over 25 high-level speakers from the global FM industry addressing emerging trends and pressing challenges in the Middle East market, from green buildings and sustainability, to the recent introduction of the strata law and its implications on property developers and the consumer.
 
Agata Pawlik, Project Manager, Streamline Marketing Group said: “More property owners and developers are realising that FM is an important industry that provides essential input to complex property management. FM Expo provides an arena for property developers to meet experienced and reputable FM companies in the region and learn about the new and innovative FM solutions available to them.


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