2024 Trends with Alexandru Duma, Coral Companies

2024 Trends with Alexandru Duma, Coral Companies

2024 Trends with Alexandru Duma, Coral Companies 900 600 BUCHAREST REAL ESTATE CLUB


Alexandru Duma, Coral Companies, Managing Partner

Top 3 trends you foresee in 2024 for the facility management market?

  • predictive maintenance and data analytics:

Predictive maintenance was always our main focus when speaking about technical facility management. When you take care of things, they last, and this comes with a lot of benefits for our clients and tenants. A well-maintained facility needs less capital repairs and offers stability and comfort to the final user. Since we have implemented our in-house developed CAFM software, we gather and analyze a lot of technical data that has become essential in the decision-making process.

  • sustainability and energy efficiency:

During the last few years, we have been actively involved in projects that are meant to make the buildings that we maintain more efficient and sustainable. Oftentimes, this process involves many technical and operational challenges, and our job is to find solutions and facilitate the way toward the sustainability goals that our clients are willing to achieve. An energy-efficient facility will contribute to a less polluted environment and will consume fewer resources which can be translated into smaller costs for landlords and tenants.

  • smart technologies for building automation and monitoring:

Technological advancement is a trend that will continue to be present in all industries. In every new building, we find new technological features when it comes to energy efficiency, equipment automation, or monitoring. We must be able to adapt and operate more complex systems, that help us in our day-to-day job and offer a comprehensive view of the entire facility.”

Main challenges and opportunities in 2024?

“As I see it, one of the main challenges will continue to be represented by the lack of workforce, specialized and unspecialized. The service industry relies on a stable workforce environment and the current situation hurts our capacity to develop and implement a long-term strategy. According to the latest reports and surveys, the real estate sector is facing a stagnation period that we are experiencing through high pressure on costs and the need to find solutions for this paradigm. We see all these challenges as opportunities for us to become better, more efficient, and more flexible. Tough times come with a lot of valuable lessons that we are looking forward to.”

What are your company’s business targets in 2024?

“The market is currently facing a complicated economic environment and an uncertain political one. Our job, as managers, is to assess all the important external elements that can impact our business, as well as the internal factors that can drive performance and sustainable development. Our existing clients remain our priority as we will continue to do our best and deliver what we assume, with responsibility and fairness. In the last years, Coral Companies has experienced steady growth, and we are confident that we will be able to keep up the good pace in 2024, by targeting new potential clients and expanding our service portfolio.”