ME’s facility management market size set to zoom to $73.3 billion

Inayat-ur-Rahman, Deputy Business Editor

According to Goldstein Market Intelligence analyst forecast the Middle East facility management market size is set to reach $73.3 billion by 2024, at a CAGR of 8.4% over the forecast period.

Khurram Shroff, the Dubai-based Chairman of the IBC group, has announced that his group of companies has invested approximately CAD $8 million - at a pre-money evaluation of CAD 21 million - into Canadian facilities management software platform SITEFY.

A game-changing proptech solution, SITEFY will assist commercial real estate owners and facility managers in streamlining daily building operations and proactively manage their real estate assets.

The senior management team at SITEFY brings to the table over 35 years of experience and global best practices in real estate management. SITEFY increases transparency and accountability by leveraging real-time data and analysis to help building owners and FM’s in proactive management of their real estate portfolios.

“The SITEFY software platform is a truly versatile and powerful solution that can generate huge efficiencies in real estate operations”, said Khurram Shroff.

“The idea is to introduce SITEFY’s technology software to the Dubai market and implement it in all our buildings, as well as to make it available to the regional developer community. We believe that the solution can be a game changer that unlocks significant returns for property owners, and our plan is to take the platform to the GCC, African and Israeli markets as well.”

The SITEFY software platform gives building owners, facility managers, and their workforces, access to real-time asset management, vendor management, unit management, sanitization management, and preventative maintenance, in the palm of their hand. As part of its many benefits, the solution automates the generation and assignment of workflows, enables assured compliance with Fire, Life and Safety procedures, and ensures the verifiable and digitally monitored sanitization of properties.

“Data-derived intelligence is transforming the management of real estate assets globally”, adds Saleem Moosa, CEO SITEFY.

“The team at the helm of SITEFY understands how property managers and owners juggle multiple deadlines; more so in the post-pandemic new normal. Therefore the platform is powered with data management and analytics to maximize property value and operational efficiency, as well as help building owners and managers to adhere strictly to mandated guidelines, while managing properties remotely if required.”