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    Expert charges real estate developers , investors on facility management

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    Naija247newshttps://www.naija247news.com/
    Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

    By Rukayat Adeyemi
    Lagos,June19,2021 Mrs Uzo Oshogwe,Managing Director, Afriland Properties Plc, a real estate investment company, has urged developers and investors to incorporate facility management in their projects to grow the real estate industry in Nigeria.

    Oshogwe , in an interview with newsmen in Lagos on Saturday, said that proper management of facility yields appreciable profit on assets.

    “The only way a facility can remain attractive to a client is if it is consistently optimised to meet their needs over time.

    “You cannot expect renewals or increased rent on your assets if the services you offer are not commensurate with clients’ satisfaction.

    “To drive efficiency and cost-efficient operations, facility managers are a must-have in any corporate real estate development that intends to maximize its potential,” she said.

    According to her, facility managers are the heartbeat of corporate real estate but most unfortunately, facility management is one of the most ignored functions in real estate management.

    “In today’s world where you find investors spending huge sums of money on developing prime real estate assets, it is surprising to discover that many of these developments have little or no facility management services.

    “This can be compared to buying a very expensive automobile and getting unreliable hands to carry out its maintenance. Definitely, it will end in the destruction of the vehicle,” she said.

    Oshogwe noted that quality facility management service was the difference between defining a real estate investment as an asset or a liability.

    She said that when a facility is well managed, it becomes an asset in the balance sheet because its value would keep appreciating.

    The real estate expert said on the contrary, if a facility was improperly managed , it would constantly drain revenue and consequently become a liability which no investor or developer would want to acquire.

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