The Managing Director of leading Nigerian Real Estate Company, Afriland Properties Plc, Uzo Oshogwe, has stated that efficient facility management is a key enabler for the growth of the Real Estate Industry in Nigeria.
Speaking from the Company’s Head Office, Afriland Towers in Lagos, Uzo opined that Facility Managers are the heartbeat of corporate real estate. In her words, “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 find that many of these developments have little or no facility management services. This is comparable to buying a very expensive automobile and getting unreliable hands to carry out maintenance. In this instance, there is only one outcome which is not pleasing to the ears and pockets of the owner. It will end in the destruction of the vehicle.”
She continued “Quality facility management service is the difference between defining a real estate investment as an asset or a liability. When managed well, it becomes an asset in the balance sheet because its value keeps appreciating. However, if it consistently drains revenue because of improper management, it becomes a liability, and no investor or developer will want to be saddled with a liability. “
The Real Estate Chief Executive urged developers and investors to incorporate facility management in their projects as to ensures profitability of assets. She said “The only way your facility can remain attractive to clients is if it is consistently optimized to meet their needs over time. The little things matter. 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.”
It will be recalled that Afriland Properties Plc has diverse properties under its facilities management portfolio including Afriland Towers on Broad Street, Lagos and the recently commissioned Heirs Towers in Victoria Island, Lagos. Afriland Properties Plc is a facilities management, property management, investment, and development company, offering end-to-end services along the real estate value chain, from management to joint-venture investments.