Estate Management Services
(Annual Maintenance Contracts Housing Society, Hotels, Clubs & Conventional Centres, Annual Maintenance Contracts Offices, Office Complexes & Buildings, Recruitment of Skilled Manpower, Recruitment of Security Guards, Income from QTRS Rent)
Estate management can be defined simply as the management of urban and rural buildings to make money for the owner. Estate management can also be defined as an art of science of directing and supervising of one’s interest in land or landed property in other to achieve some optimum returns which may not only be financial but political, social statute, prestige and other returns.
Estate Management concerns the appraisal, acquisition, development, marketing and disposal of property, or sometimes the ongoing management of property. Estate Management includes wide category of commercial property such as offices, hotels, and retail development, or it can encompass residential property.
The estate management and facility management are same in sense & operational activity are same. Here estate management & facility management are used interchangeably and shall be considered as same.
Facility management (FM) includes management methods and techniques for building management, infrastructure management for an organization and also the means of overall harmonization of the work environment in an organization. This system standardizes services and streamlines processes for an organization.
India facility management market to cross $ 100 billion by 2023. Anticipated growth in the market can be attributed to an increase in construction activities across commercial as well as residential sector. Moreover, various initiatives by Government to provide housing for all citizens and development of smart cities in India are further expected to positively influence India facility management market in the coming years. Furthermore, rising population across tier 1 cities and continuing growth in IT/ITeS and banking sectors would further steer India facility management market during the forecast period. The market is dominated by unorganized players.
Few of the major players operating in India facility management market include CBRE Group, Inc., Jones Lang LaSalle Incorporated (JLL), SIS Group Enterprises, Quess Corp Ltd., Cushman & Wakefield, Colliers International Group Inc., Knight Frank India Pvt Ltd, Sodexo, EFS Facilities Services, and UPDATER SERVICES (P) LTD.
The facility management market was valued at USD 35.92 billion in 2018, and is expected to reach a market value of USD 72.43 billion by 2024, registering a CAGR of 12.51% during the forecast period of 2019–2024.
Facilities management services are widely used to support business activities. Facilities management involves management and maintenance of business processes for the effective and efficient delivery of services across all applications, creating and sustaining a safe environment for industry. Furthermore, facilities management helps companies focus on their core services and offers support which helps them in enhancing the quality of services.
Increasing cost of labor and the growing presence of unorganized players in the facilities management market and low-cost delivery provided by such players are hindering the growth of the facilities management market. This factor is expected to have a high impact in the short and medium term of the forecast period. Lack of availability of skilled manpower and increasing price competition are anticipated to restrict the market growth during the forecast period.
The increased spending on the infrastructural aspect can be cited as one of the major drivers for the growth of the FM market. Moreover, the increasing focus on optimization processes and energy efficiency improvements are the main driving forces for the development of the facility management market.
The global facility management market is segmented on the basis of component, deployment, organization size, industry vertical, and geography. Based on component, the market is bifurcated into solution and services. Solution segment includes asset management, workplace & relocation management, strategic facility planning, real estate & lease management, maintenance management, and others (sustainability management, project management, program management, and technology management).
The major factors that drive the market growth are increase in adoption of cloud-based solutions, change in organization structure & work management, and introduction of novel solutions by key players in the market. Other factors that hinder the market growth include lack of awareness about facility management solutions & their benefits and increase in demand for service outsourcing.
Currently the facilities management has widened its reach to every infrastructural facility that requires maintenance including shopping malls, airports, hospitals, hotels, metro rail and others. With the passage of time facilities management is expected to experience robust growth riding on the infrastructural developments in the country. The major trends identified in the sector include standardization of procedures, facilities management as a stream of study, mechanization of services, project management and general contracting services continuing to evolve and investments and merger and acquisitions activity in facilities management sector.
Some of the prominent players identified in the facilities management market and profiled in the study include - Arthur McKay & Co Ltd., Bellrock Property& Facilities Management Ltd., Bilfinger HSG Facility Management GmbH, Broadspectrum (Australia) Pty Ltd., ISS World Services A/S, Knight Facilities Management, Quess Corp Ltd., Sodexo, Inc., and Spotless Group Ltd.
Niir Project Consultancy Services
An ISO 9001:2015 Company
106-E, Kamla Nagar, Opp. Spark Mall,
New Delhi-110007, India.
Email: [email protected] , [email protected]
Tel: +91-11-23843955, 23845654, 23845886, 8800733955
Website: www.entrepreneurindia.co , www.niir.org
#Estate_Management, #Estate_Management_Unit, #Real_Estate_Management, Real Estate Management Business Plan, #Estate_Management_Business, #Real_Estate_and_Property_Management, How to Start a Facilities Management Business, #Facility_Management_Business_Opportunity_in_India, Facility Management, Facility Management Services Business Plan, Facility Management Business in India, Facility Management Business Plan PPT, #Starting_a_Facilities_Management_Business, #Commercial_Facilities_Management, How to Start Real Estate Business, Real Estate, Real Estate, Real Estate Business, Real Estate Sector, How to Start a Property Management Business, Annual Maintenance Contracts Housing Society, Hotels, Clubs & Conventional Centres, Annual Maintenance Contracts Offices, Office Complexes & Buildings, Recruitment of Skilled Manpower, Recruitment of Security Guards, Income from QTRS Rent, Real Estate Management Business Plan, Commercial Property Management Business Plan, Detailed Project Report on Estate Management, #Project_Report_on_Estate_Management, Pre-Investment Feasibility Study on Estate Management, Techno-Economic feasibility study on Estate Management, #Feasibility_report_on_Estate_Management, Free Project Profile on Estate Management, Project profile on Estate Management, Download free project profile on Estate Management