Increasing number of real estate developments in the private and public sector of the country, growing mergers and acquisition in the market and adoption of technologically advanced solutions are the major factors which are expected to fuel Bahrain Facilities Management Market in future.
Bahrain FM Market has grown at a significant pace over the years, owing to augmented demand for both hard and soft services by all sectors of the country. This has given a boost to the revenues of existing market players. The growing market has also opened up opportunities for new entrants in the space, wherein smaller players are often considered important revenue generators for outsourced services. Increasing number of infrastructural projects in both government and private sector of Bahrain is the major reason behind the continuous growth of facilities management market in the country.
The emergence and entry of foreign players in the service market of the kingdom has posed a threat to the local contractors which face stiff competition both in terms of quality and price. This dominance of world-class players including G4S, EFS Facilities Services and Cluttons has raised the service requirements of the customers due to the existence of multiple hard and soft services in their portfolio. The growing economy of Bahrain is witnessing an increase in the number of acquisitions and joint ventures among the facilities management companies in the country. This is due to the rapid infrastructural developments in the country. Facility Management Companies have joined hands with other existing and new market players to better service the client. In 2013, Bahrain Airport Company (BAC) fully acquired Hochtief Facility Management Bahrain (HTFMBA), which was earlier a joint venture between BAC and Hochtief.
The companies in the industry are also giving emphasis on offering personalized services to the clients, that support the new ways of working & are more fit-for-purpose. These personalized services will go beyond managing assets and systems. Customer requires that the service provider understand their business and train the front-line service employees to deliver on this understanding.
Ken Research announced its latest publication on “Bahrain Facilities Management Market Outlook to 2021 – Growth in Retail Sector and Demand for Hard Services to Drive Market Growth” which suggested a rapid growth in Bahrain Facilities Management, market majorly driven by expanding real estate and construction industry in the country. Technological advancements and the growth of retail sector are attracting large number of companies to opt for facilities services in Bahrain.
Ankur Gupta, Head Marketing & Communications