Since the discovery of oil in Ghana in 2007, the fortune of the country’s Real Estate industry has grown significantly; with Ghana Investment Promotion Centre registering building and construction projects estimated at US$232 billion in 2016.
This, in addition to an anticipated 170,000 Square Metres of prime office and retail spaces, and a rising profile of a luxury residential assets are fast giving Ghana’s Real Estate sector the status of being the nation’s economic crown.
These impressive statistics, coupled with increasing Real Estate activities in the economy are opening up another window of opportunities in the market. These opportunities are in the area of Facilities Management.
With the Ghana Real Estate market attracting billion-dollar investments, investors are keenly interested in how to preserve the value of their asset, increase occupancy and reduce operational costs to guarantee their returns.
So how should Facilities Managers in Ghana position for these opportunities?
- Grow Capacity and Understand Global Standards: For any individual, Facilities Management company or service provider to take advantage of the huge opportunity in Ghana FM market, they must develop the capacity to be able to respond to the volume of work, sophistication and demand for international quality standards of the foreign Real Estate investment. FM professionals who lack this knowledge will soon become irrelevant in the scheme of things.
- Speak the language of Business by Demonstrating Value: Investors want to make profit on their Real Estate assets. So there is high demand for Facilities Management professionals who can demonstrate how process efficiency, reduction in breakdown and availability of critical equipment affects the bottom line.
- Understand Strategic FM Planning: Giving that Real Estate cost constitutes up to 40% of business overhead, those who want to take opportunities in the market will understand how to align organizational goals with Facilities Management objectives. This is because if well-structured, FM can play significantly in the business performance goals of the investors. So FM professionals with the requisite skills and know how in the development and implementation of strategic processes, procedures and tactical plans will be highly sought-after
Want to develop yourself or your team for these opportunities and more? Sign up for our Facilities Management Master Class HERE