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Recent industry reports have indicated a decline of up to 30% in construction costs per square foot, a prevailing trend that has helped keep construction activities on track. Sungwon OBO however noted that falling property prices and demand issues are bound to be short-term growth barriers for developers and real estate firms, forcing most of them to actively look for alternative resources such as facilities management solutions to drive business and enhance long-term sustainability.
"Consolidation is the key in this period of economic difficulties and facilities management solutions are important consolidating measures that definitely help developers and building owners boost business and asset value. Although we are all facing a major economic downturn, business has actually been very healthy for Sungwon OBO as several clients are now focusing more on their long-term business prospects through Sungwon's high-quality facilities management services. Timely strategic measures such as introducing a competitive pricing structure and efficient marketing campaigns have certainly helped us overcome the ongoing economic challenges,"
said Wahid Attallah, Chairman of Sungwon OBO.
Sungwon OBO has recently signed a number of key projects as the company continues to entertain clients from a wider spectrum of industries, including a one-year renewable contract to provide exclusive facilities management services to Michigan State University (MSU) Dubai.
Sungwon OBO was formed as a result of a partnership between Sungwon, the pioneering facility management company in South Korea, and Makateb Holding. Sungwon OBO, which is now the Facilities Management Division of Makateb Holding, delivers a full range of integrated facilities management services, including mechanical and electrical maintenance, cleaning, security, FM consultancy and energy management.
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Posted by Rima Ali Al Mashni
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