The FM market will continue to be flat in the first six months and pick up as the world returns to some sense of normality, according to the chairman of a facilities management firm.
Jeremy Waud, chairman of Incentive FM Group, told Facilitate that “the office world has now doubtless changed for good” and that there would be “a greater split of home and office working but I don’t see a complete swing one way or another”.
Waud added: “This effect will drive the need for less office space, but probably of a higher quality, that is able to respond to the net-zero agenda together with smarter and more flexible shared work environments with first-class connectivity and technology.
Waud also said the “demand for the traditional FM services will be largely unchanged, but volumes may be slightly suppressed”.
He explained: “The inexorable change to online retail will affect tertiary retail developments and only the strongest will survive and at the very least it will need to have a compelling set of reasons to encourage its clients to visit.
“Serviced office space is currently in a state of flux, but should be an appealing office offer for companies trying to shed cost, space and lease commitments in the future as and when possible. The contract service backdrop will continue to see the current trend of consolidation and this may just lead to the big getting bigger as entrepreneurs struggle to find the opportunities or funding to get going and establish the necessary traction.
“The banks will doubtless continue to offer their umbrellas when the sun comes out and the rain stops! They will continue to strive for risk-free lending – something that will not stimulate the economy or our industry.”