The Future of OAM Industry in Dubai: Trends and Forecasts

Owner Association Management (OAM) services are the backbone of multi-family properties and gated communities in Dubai. They are tasked with the security and smooth running of residential spaces. As the pandemic has shown, OAMs are indispensable in ensuring that residents of a gated community can continue to avail of critical services and amenities even in the most challenging times. 

The pandemic has also proven to be a pivotal moment in the industry. After the initial setbacks in 2020-21, 2022 saw rapid recovery as the economy moved full steam to recover from COVID losses. OAMs, closely associated with both real estate and facility management, are now poised to benefit from the momentum building up in the sector. So, what does the future hold for OAMs in Dubai? Let’s see OAM trends and forecasts.

OAM Trends and Forecasts

Consumers driving digitalization 

While the Smart Dubai initiative may have provided the initial momentum, it is the consumer who will be driving digitalization in the future. A 2023 McKinsey study shows an extremely high degree of digitization United Arab Emirates (UAE) at 99%. The average consumer today prefers apps for marketplace engagement. However, digital adoption depends on the user experience. 

These findings demonstrate that the average user now expects a digital-first approach. For OAMs to improve engagement and penetration, they must invest in apps that offer residents a superior user experience. Mobile-first community management apps like ANACITY offer OAMs this critical support. With all-inclusive services, it allows the residents to meet their expectations through one app. 

Increasing digitalization in facility management 

The pandemic was a pivotal moment in the digitalization of the facility management industry. Like other industries, OAMs had to quickly switch over to a digital mode. It allowed them to ensure contactless delivery of services. At the same time, they were able to improve their efficiency and cost-effectiveness. With both the consumers and the authorities pushing digitalization through the Smart Dubai initiative, more and more facility managers will move towards complete digitalization. 

ANACITY offers an all-inclusive solution for managing gated communities. This includes a multi-family dashboard that is designed to manage different communities. From accounting to gate and asset management, it helps facility managers to improve operational efficiency while cutting down on costs. 

Economic and data integration 

Part of the Smart Dubai initiative is the economic and data integration for improved transparency and better access. It also allows residents to easily pay their bills with instant reconciliation. Similarly, data integration is designed to resolve issues with property registration or ownership. 

Strong Growth Expected 

The facility management industry has been riding a double-digit growth rate with the y-o-y figures reaching as high as 16.25% in 2013-2014. In 2021, the industry was valued at $17.41 billion. Experts predict growth to be robust in the next five years with consolidations through mergers and acquisitions. This growth will receive further impetus as critical industries like construction, tourism, and events pick up momentum. Within the UAE, Dubai will continue to be the dominating market with Abu Dhabi following suit.

These OAM trends and forecasts show strong growth projections. The industry will also see increasing digitalization, driven by consumers and the government’s digitalization drive.