Facility and real estate management

Abstract

The convergence facility and real estate management is propelled by macroeconomic trends, emphasizing cost savings and strategic use of facility management to reduce operating costs, financing, and investments. Legal requirements and sustainability regulations, particularly in the European Union, further drive the merging of these disciplines, addressing the significant environmental impact of the real estate and construction sector. Traditional distinctions between institutional real estate management, corporate real estate management, and facility management blur as sustainability and macroeconomic shifts reshape these fields. Property owners now require understanding in architecture, workplace management, facility management, and civil engineering, particularly in industries like life sciences. Facility management׳s multidisciplinary approach, influenced by urbanization and economic understanding, plays a pivotal role in the efficiency, productivity, and well-being of societies. Overcoming disagreements in literature regarding the relationship between facility and real estate management is crucial. Professionals in real estate and facility management face challenges necessitating a holistic infrastructure management approach, accentuated by the COVID-19 pandemic. Future specialists must possess transdisciplinary knowledge in real estate, workplace and facility management, financing, economics, digital transformation, sustainability, and leadership to address complex tasks, including the sustainability transformation of existing buildings