MENA property management market can yield $30 billion in revenue
The region's underdeveloped property management market can generate up to $30 billion in revenue if exploited...
October 4, 2009 1:04 by Dana El Baltaji
The region’s underdeveloped property management market can generate up to $30 billion in revenue if exploited, said management consulting firm A.T. Kearney. Of the $30 billion, the firm expects developers in the UAE to account for $5 billion to $10 billion, and in Saudi Arabia $8 billion to $12 billion.
“Essentially, as projects are completed within the GCC, there is an opportunity for developers to shift their focus from ‘develop to sell’ to a ‘develop, manage and collect’ business model and tap into ancillary revenue sources, explained Dirk Buchta, partner and managing director, A.T. Kearney Middle East.