The report titled “Saudi Arabia Facilities Management Market Outlook to 2021 – Growth in Infrastructural Projects to Foster Demand for Facility Management Services” by Ken Research suggested a multi bagger CAGR of 12.1% in revenue in facilities management market in Saudi Arabia region in the next 5 years till 2021.
The facility management industry has been booming owing to the technology advancements that it has made over the years such as using machines instead of manned power. Innovations in the market such as smart building technology development, integrated utilities and green buildings have given a boost to this industry.
Facilities management services have evolved over the years including water saving measures and energy saving modules to their systems for sustainability and improvement in the technology. Green building initiative was taken by King Abdullah in 2010 aiming to foster concepts of sustainability, environment and humanity by using natural resources in construction. The construction under this technique has increased due to this initiative leading to the requirement of more facilities management services both hard and soft for proper functioning.
The facilities management market in Saudi Arabia has attracted various international players over the years due to the high potential in the market. This has made a positive impact on the facilities management market by increasing the awareness due to rise in the suppliers and elevated revenue generation by this industry.
The most popular entry strategy used by international players in Saudi Arabia FM market has been joint ventures. The facilities management market in Saudi Arabia has attracted various international players over the years due to high potential such as OCS Arabia, Cushman & Wakefield, JLL, Atkins and others during 2011-2016. The MNCs have entered the market increasing the competition but the market remains concentrated with Saudi Oger, Almajal G4S, Zamil Operations and Maintenance, Samama and Nesma Trading being the major players in the FM market.
The manpower dynamics for the industry has changed from the local population in the past to both local population and expats owing to the globalization trend. This has led to increase in the international employees in the country who work for one-third wages as the Saudi population.
Technological development in the country has given wider scope to facility management industry. Facilities management market has increased at a CAGR of 10.3% during 2011-2016.
Key Topics Covered in the Report:
Trends in Facilities Management in Saudi Arabia
Market Growth Facilities Management Middle East
Middle East Facilities Management Market
Facility Management Services in Saudi Arabia
Facility Management Opportunities Saudi Arabia
Role of FM Services Saudi Arabia
Saudi Arabia Facility Management Sector
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Ankur Gupta, Head Marketing & Communications