World Facilities Management Day: Secrets to Excellence in Luxury Real Estate Projects

World Facilities Management Day: Secrets to Excellence in Luxury Real Estate Projects

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Have you ever noticed how perfect everything looks in your workplace, like it's straight out of an interiors magazine? This seven-star experience is the result of the work of global facilities management companies. Nowadays, several real estate consultancies offer facilities management services for luxury residential complexes, often managed by hotel staff, transforming the residential experience into a true everyday luxury.

The Crucial Role of Facilities Management in Luxury Real Estate

Facilities management has revolutionized the luxury real estate sector, providing a residential experience comparable to staying in a five-star hotel. These services go well beyond simple maintenance of plumbing and electrical systems, including delivering flowers on request, managing custom applications and organizing private events. This level of service not only helps improve the quality of life of residents but also plays a significant role in increasing the rental and equity values ​​of the properties concerned.

Comparison between mid-range and luxury housing complexes

While management services in mid-range housing projects typically focus on cleaning services, waste management and equipment maintenance, super luxury condos benefit from five-star butler services, personalized amenities for fitness, and even garden management by horticultural experts. These premium services are reflected in the Condominium Fees (CAM), which are significantly higher in luxury resorts due to the quality and quantity of services provided.

Maintenance costs for common areas explained

CAMs cover costs associated with maintaining and operating the common areas of a residential complex. According to Knight Frank India, these fees can vary widely depending on the amenities offered, ranging from restaurant brand management to advanced technology for home applications. The cost difference between mid-range projects and luxury apartments can be substantial, highlighting the importance of services provided in determining CAM fees.

The Impact of Hospitality Managers on CAM Fees

In luxury properties with central air conditioning, CAM fees include the cost of operating and maintaining the central air conditioning system. The salaries of tower managers, often from the hospitality sector, also contribute to increasing CAM costs. This highlights how premium services increase operational costs and, therefore, the burdens borne by residents.

Imported plants and horticultural experts also increase common charges

The choice of plantations can also influence CAM costs. For example, a residential complex that opts for imported exotic plants will have higher CAM fees compared to a project that chooses simpler local plantings. This shows how aesthetic decisions can have a financial impact on residents.

Conclusion

Facilities management in luxury residential complexes is not limited to building maintenance; it encompasses a full range of services designed to enrich residents’ living experience. As the sector continues to evolve, demand for these premium services will likely only increase, pushing developers to constantly innovate to meet residents' high expectations.

Credits

Article based on information provided by Hindustan Times and insights from Sathish Rajendren of Knight Frank India and Manoj Sharan of Cushman & Wakefield Property Management Services India.

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World Facilities Management Day: Secrets to Excellence in Luxury Real Estate Projects

Virginie Majaux

“Virginie Mazaux” is a fictional character created by the Yourtopia.fr team, symbolizing a blog and social network enthusiast born in 1992 in Bordeaux. This character, imagined to represent a connected and creative generation, was designed to explore and write about various passions in the digital world. Although "Virginia" is not a real person, articles published under this name reflect the collaborative work of our editorial team, who share a common interest in communication, digital innovation and social trends. “Virginie”, as a creation of Yourtopia.fr, brings a unique and engaging perspective on the latest developments in the field of social media and blogging, illustrating the journey of a fictional blogger from her beginnings to the creation of his own blog and his collaboration with Yourtopia.fr.

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