A firm commitment to deliver bespoke value added service is topping the list of Facilities Managers (FMs) as they hover around investors, corporates, and individuals looking to buy luxury apartments or rent prime office space in Nigeria’s property market.
Industry sources say a host of FM firms are already expanding their current service offering to include some unique services that clearly meets the immediate needs of their clients and prospects; such that service charge will look minute when compared to value delivered.
Engr. Femi Akintunde, Group Managing Director, Alpha Mead Facilities reasons that as activities in the Real Estate market rebounds, the FM industry will need to respond accordingly – to enable operators to woo new clients and re-attract old customers who had shrunk or completely ended their contract in the heat of the economic crunch.
“The past 12months have been quite challenging for businesses across all sectors, including operators in the FM industry. However, with businesses, investors and individuals gradually rekindling their interest to approach the property market, the onus is on us as FMs to rethink our value proposition such that it reflects current market realities.
Some of the innovations expected from FMs include conducting free Facilities Condition Assessment (FCA) at the mobilisation stage of projects, the use of new technologies such as; Archibus – a computer aided Software – and other technology applications such as Eye-ON-Site; an in-house proprietary Application developed Alpha Mead Facilities.
Enumerating the importance of such innovations to the West African FM industry during the maiden edition of the FM Roundtable in Accra, Akintunde explained that given the increasing appetite for Real Estate investors in the region, the FM industry must evolve beyond its current state of just managing physical assets to provide an optimum serviced environment for the people who own, lease, work in these facilities.
“We must begin to deliver tangible value-added services, using data, automation process and contemporary technologies that meet these needs,” Akintunde said.
The Ghana FM Roundtable is an annual FM and Real Estate Business policy and strategy forum organised by Alpha Mead Facilities & Management Services to help increase awareness and deepen understanding of FM as a Real Estate process that can support business profitability, people productivity and environmental responsibility in Ghana.
Analysts say the new move could announce a defining moment in Nigeria’s FM growth story, as only organisations who have the capacity to respond to this new dynamics could become competitive in the fast growing industry.
A recent report by BusinessDay revealed that despite the high vacancy rate the has characterised the high-end segment of the Property market, the Real Estate sector is set to see a strong demand for prime properties in the subsequent quarters for the year, as inflation heads south.
Analysts are hopeful that Africa’s once biggest economy could exit recession on or before the last quarter of the year. The country’s Inflation rate slowed for the first time in 16months in February and the trend has continued, leading to a Consumer Price Index (CPI) declined by 1.46 percent, from a peak of 18.72 percent in January to 17.26 percent in March 2017.
“We think inflation has peaked, and it will continue coming down but stay above the government’s target partly because the currency is a lot weaker than it was last year,” John Ashbourne, an economist at Capital Economics Limited, was quoted as saying.