Growing infrastructural projects in the country will create huge growth opportunities for facilities management services providers.
Rise in hospitality industry and Growth in tourism industry will further increase the demand for facilities management services.
Ken Research in its latest study, Saudi Arabia Facilities Management Market Outlook to 2021 suggested the facilities management market in Saudi Arabia is vast, lucrative and fragmented with high potential. This gives opportunity to FM players to consolidate the market which will further lead to various acquisitions and mergers in this industry for inorganic growth.
Saudi Arabia facilities Management market is estimated to register a positive CAGR during 2016-2021. Growing construction industry, upcoming real estate and hotel projects, growing awareness about facilities management services will be the key drivers for the growth of the facilities management industry in the country.
The report provided information on Saudi Arabia facilities management market, Market segmentation of Saudi Arabia facilities management, Future growth drivers & competitive landscape of few companies including Saudi Oger, Almajal G4S, Zamil Operations and Maintenance, Samama and Nesma Trading.
The infrastructure industry has been growing and is expected to grow further due to the number of projects building in the country. ‘Smart city’ initiative launched by the Saudi government is a major example of development in infrastructural projects. In this initiative, the country has planned to target five Saudi cities with the help of private sector to apply the concepts of smart parking, smart lighting system, smart solid waste disposal, smart cameras and environment pollution monitoring tools. The first project has been opened in Yanbu in April 2016 and the upcoming projects are planned in Makkah, Riyadh, Jeddah, Madina and Ahsa. This urban development planned by the government as a vision till 2030 will lead to rise in the demand of the facilities management services creating a positive impact on the market. Various infrastructural projects including Saudi Landbridge, Jabal Omar Development, Haramain High Speed Rail, Riyadh Metro, Jeddah Metro and King Abdulaziz International Airport have created Requirement of the FM services making a positive impact on the Saudi Arabia FM industry.
Tourism industry experts and economists predict that tourism industry can overtake the oil industry in Saudi Arabia in terms of revenue generation. Globally Saudi Arabia ranked 19th (2012) on the basis of international tourist arrivals. Moreover, 43.0% increase is estimated in the inbound tourists in Saudi Arabia by 2020. This would be supported by the increase in the religious tourism, international patients for healthcare industry, and foreign workers for employment and tourists for hospitality industry. The rise in the tourism industry will make a positive impact in the facilities management industry as with the increase in tourism, the infrastructure, healthcare and hospitality markets will boom leading to elevated demand in the facilities management services both in terms of soft services and hard services. The hospitality market will boom in the future owing to the Saudi Arabia’s national vision 2030 which include the construction of numerous hotels.
Key Topics Covered in the Report:
Facility Management Services Market in Saudi Arabia
Market Share Saudi Arabia Players Facility Management
Hard Facility Management Market Saudi Arabia
Trends in Facilities Management in Saudi Arabia
Saudi Arabia Facilities Management Industry
Market Size Facility Management Saudi Arabia
New Standard Facility Management Saudi Arabia
Market Growth Facilities Management Middle East
Middle East Facilities Management Market
Industry Segment Soft Services Saudi Arabia
Challenges in FM Market Saudi Arabia
Saudi Arabia Facility Management Market
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Ankur Gupta, Head Marketing & Communications