Tuesday, 02 January 2024 12:17 GMT

The Real Future Of Real Estate Lies In How We Manage It


(MENAFN- Khaleej Times)

When most people think about real estate, they picture architecture, location, or price per square foot. But here's the thing: the true value of a property today isn't just in how it looks or where it sits, it is in how it's managed every single day after the ribbon-cutting ceremony. That's where facilities management quietly steps, making sure every design decision is translated into a living, thriving community.

The UAE is growing fast with over 11 million residents and counting, and with that growth comes rising expectations. People today aren't buying homes for space alone; they're choosing lifestyles that reflect how they want to live. They want comfort, safety, convenience, and sustainability to come standard. A stylish lobby and skyline view might catch someone's eye, but it's the day-to-day experience that keeps them there. Is the maintenance quick? Is the air clean? Are the lights energy-efficient? These are the questions shaping modern property demand.

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A decade ago, things like concierge desks, smart thermostats, and wellness spaces felt like luxuries. Today, they're must-haves. Take any new tower in Dubai, you'll find 24/7 security, a dedicated app for maintenance requests, maybe even solar panels on the roof. These features have moved beyond being added perks; they're now what defines quality living. In fact, a recent survey of more than 1,000 UAE residents showed that 90 per cent now consider a healthy home environment essential, and over 80 per cent are happy to pay more for it. Think about that. People aren't just chasing bigger homes; they're chasing better ones that help them live well.

Technology has made this shift even more exciting. The UAE leads the region in smart-home adoption, and nearly 80 per cent of GCC residents already own connected devices. Lights, climate, security, all controlled from your phone or even your voice. It's not futuristic anymore; it's expected. Developers understand this, and that's why we're seeing the rise of branded residences that are managed like hotels, complete with concierge, housekeeping, and spa services. It's real estate meets hospitality, and it's changing what“home” means.

Now, here's where the conversation really changes. Facilities management, traditionally the backstage crew of the property world, is taking center stage. It's no longer just about fixing leaks or cleaning hallways. It's about crafting experiences, ensuring everything works seamlessly so residents can focus on living. When FM is done well, you feel it without even noticing it. The elevators glide, the air smells fresh, and every small interaction feels considered. Developers who understand this are seeing results. They're retaining tenants longer, attracting better buyers, and building reputations that outlast the shine of any new launch.

The numbers back this up. The UAE's facilities management industry is on track to reach $10.53 billion by 2029. That growth isn't random; it's a reflection of how vital good management has become to property value. Many developers have set up their own FM subsidiaries or partnered with top-tier providers to protect their investments. When buildings are managed right, rents stay high, resale prices climb, and customers stay loyal. One leading UAE FM company even reports client retention above 95 per cent and contract renewals near 90 per cent. That's not luck, it's trust, earned day by day.

And trust matters, especially in a market where every developer promises something“iconic.” What really sets projects apart now isn't the tallest tower or the flashiest lobby, but how they feel to live in. Buyers are asking new kinds of questions: How fast can I get help if something breaks? How efficient is the cooling system? Are there recycling programs or smart energy controls? That's where FM becomes a competitive edge - the difference between a place that looks good and a place that feels right.

Sustainability has pushed this even further. The UAE's leadership has made environmental responsibility part of the nation's DNA, and the real estate industry has followed suit. Sustainable operations aren't marketing buzzwords anymore; they're a baseline expectation. Most of a building's total costs occur during its operational life, not construction, and that means efficient management isn't just nice to have, it's essential to profitability and long-term value.

You can see this shift everywhere. The UAE now ranks among the world's top ten countries for LEED-certified buildings, with over 600 green projects already completed. Dubai alone stands third globally among cities for LEED certifications. Districts like Masdar City and the former Expo 2020 site are built entirely around sustainable design, powered by smart energy and managed with precision. And here's the surprising part: studies show that green buildings don't necessarily cost more to build, but they almost always cost less to run. That's good news for developers, residents, and the planet.

For the people living in these communities, the benefits are immediate with cleaner air, lower bills, and a sense of pride in contributing to a greener UAE. Facilities managers today are not just technicians; they're sustainability stewards. They're the ones fine-tuning air systems, tracking energy consumption, and ensuring every drop of water and watt of power is used wisely. The Middle East Facility Management Association has found that smart and sustainable FM practices can significantly reduce operational costs and energy use while improving resident satisfaction. In other words, better management doesn't just feel good, it pays off.

After decades in this industry, I've seen how dramatically the narrative has changed. The UAE's real estate story has always been about ambition with grand visions, futuristic architecture, global attention. But the next chapter is about consistency and care. Developers can no longer simply hand over the keys and move on. The real test begins after the sale, when people move in and start living. That's where facilities management proves its worth: quietly, steadily, every day.

As the UAE continues to build smarter, greener, and more connected cities, the country's true competitive edge will lie in how we manage what already stands. Architecture draws the eye, but good management wins the heart. The real future of real estate isn't just about creating landmarks; it's about ensuring they last, perform, and bring joy to those who call them home.

After all, great buildings don't succeed because of how high they rise, they endure because of how well they're managed.

The writer is President of MEFMA.

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Khaleej Times

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