Facility management set to become next hotspot for Indian realty sector.

Facility management set to become next hotspot for Indian realty sector.

With companies looking to increase efficiency, much of this is generally outsourced.

Driven by the mammoth infrastructure development projects lined up over the next five years, facility management is set to be the next hotspot for the realty sector. The segment is already growing at 15-18 per cent annually.

“Facility management is going to be next hotspot for the realty sector. While traditionally the sector is witnessing a slowdown, this segment is growing at whopping 15-18 per cent annually,” Sumit Sabharwal, MD – India, OCS, a leading facility management company in India. Today, OCS has a global presence working with 20,000 customers through a workforce of nearly 80,000. The company expects to outpace industry growth.

Facility management (FM) services are offered to organisations by vendors who take up responsibilities related to the operation and maintenance of the entity’s facilities. With companies looking to increase efficiency, much of this is generally outsourced.

“Increasingly, corporates are outsourcing their daily operations, allowing their in-house teams to focus on more strategic aspects of the business. This works for both small and large enterprises looking to maximise their efficiencies and minimize time lost handling day-to-day tasks. This is where we see lots of growth,” Sabharwal added.

Globally, the facility management market is estimated at $35 billion, and is expected to reach $60 billion by 2023. According to industry estimates, the Indian Facilities Management services market is estimated at Rs 58,500 crore and is slated to grow at a CAGR of 25 per cent, much higher than the global trend. This is one reason why foreign firms are eyeing the Indian market.

Ref. – Facility management Industry India