From maintaining gleaming multiplexes to running multi-occupancy corporate parks; from emphasising on space optimisation to creating awareness about keeping the property secure and well maintained; from energy efficient green buildings to simply supporting building cost systems; facilities management in India has undergone a radical change, transforming from luxury to eminent necessity. Facilities management has flourished into an organised industry with more and more companies outsourcing professionals to support them in sustaining their ultra-modern built complexes.
Partners in perfection
In the real estate market, where competition is staple, the challenge to survive does not just end at being the best. It’s also about presenting yourself as the best. So, while on one hand, companies will be worrying about continually optimising their real estate assets to achieve ROI targets, on the other hand, winning hearts of customers and employees through pleasing and productive workspaces is a constant worry too. An eternal pursuit to striking the right balance between feasibility and functionality!
Today, facilities management service providers are offering tailor made solutions for diverse needs and requisites of growing office, retail, services or hospitality sectors. The swiftly evolving real estate sector enhanced with technological progress and improved infrastructure facilities has boosted the facilities management segment into a vital industry. Use of information and communication technology in buildings with wireless and web-based automation systems has become the need of the hour. With integrated building management system, companies are now offering sustainable and energy management solutions, improving operational efficiency, consequently promoting growth of smart buildings and campuses in the country.
Every corner covered
While significant facilities management providers are located in Tier I cities; the sector is expected to grow at a CAGR of around 17 percent during 2015-2020. While Tier I cities may be the lead contributors to this segment, a growing number of Tier II and Tier III cities are opening up to this sector. And with the new Smart City proposal, facilities management services in Tier II and Tier III cities in India are bound to expand, encouraging more players in the industry.
While the facilities management scenario in India is still evolving with a huge scope for global best practices to find a fit and drive the radical change, it can easily be said that the industry is already at the edge of a high growth trajectory. The next 5-6 years will see strong economic changes, creating higher demand for these services. It would be wise to observe and adopt the global best practices, plug in the local challenges to make the Indian service model holistic, as we wait for the take-off.
I will be back soon talking at length on what global practices can be adopted to make India facilities managements arm future-ready.
About the author
Rajesh Shetty heads the Facilities Management business at Colliers India. His extensive experience also includes a few years dedicated to the International market which has brought several prestigious projects and a vast knowledge bank into Rajesh’s portfolio. He is an expert with managing services of bio-medical, engineering facilities, non-technical services; transportation management, catering and F&B.