Jamal Lootah, President of MEFMA<\/em><\/strong>, said: \u201cThe GCC\u2019s FM industry is poised for exponential growth. According to the estimates of Goldstein Research, its market value will hit the USD 71.4-billion mark by 2024, with a compound annual growth rate (CAGR) of 8.6 per cent. Some of the identified major growth drivers are the expansion of the construction industry and other large-scale development projects, the automation trend, and higher spending of the GCC governments.\u201d<\/p>\n \u201cGiven this bright outlook, we, regional FM players, should continue to look for ways on how we can further optimize both current and future opportunities, while at the same time formulating effective solutions to challenges. This is why we continue to provide a platform where stakeholders can meet and share ideas. We brought the event to Bahrain because we wanted to showcase a host of growth prospects and the latest positive developments in the local market,\u201d added Lootah<\/em><\/strong>.<\/p>\n Goldstein Research predicts that the market size of Bahrain\u2019s FM market, which is still in its nascent stage, will exceed USD 2.3 billion by 2024, at a CAGR of 12.2 per cent.<\/p>\n Eng. Aaref Hejres, Chairman, Bahrain Property Development Association<\/em><\/strong>, said: \u201cThe middle east region especially the Arabian Gulf, is witnessing an urban development in conjunction with ambitious development plans based on economic diversification. Facility management is now emerging as an urgent requirement to improve operational efficiency using the latest technological innovations, while reducing the carbon footprint. In line with the growing trend towards making sustainability an essential pillar of overall development. This Networking Event was an ideal platform supporting Bahraini facilities management community with best practices that will improve the efficiency and sustainability of buildings. With the accelerated pace of implementation of real estate and construction projects in line with Bahrain’s comprehensive development path according \u201cVision 2030\u201d. We highly appreciate the efforts of the Middle East Facility Management Association (MEFMA) to ensure the efficiency, sustainability and competitiveness of the local and regional facilities management sector.\u201d<\/p>\n Apart from Nizameddin,<\/em><\/strong> the other speaker was Khaled Alshami, Director of Solution Consulting (Middle East & Africa)<\/em><\/strong>, who discussed \u2018The Benefits of Moving Asset Management Systems to the Cloud.\u2019<\/em> A panel discussion moderated by Nizameddin<\/em><\/strong> followed the two main lectures. The panelists consisted of Aaref Hejres, Chairman, Bahrain Property Development Association (BaPDA); Khalil Al-Refaii, Planning & Work Control Leader, Saudi Aramco; Mohannad Almadhi, Managing Director, Musanadah FM; and Raymond Al-Salhani, Project Manager, Al Hajry Overseas Co. Ltd. <\/em><\/strong><\/p>\n
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