Facility Management Market in GCC Set for Prosperity in Saudi Arabia in Future

The Gulf Cooperation Council facility management market advance is propelled by the factors such as the soaring demand for facility management services for industrial units, commercial and residential buildings, and civil infrastructure units, and the increasing desire of governments to develop other sectors through plans like the Saudi Vision 2030, the U.A.E. Vision 2021, the Kuwait National Development Plan, and the Qatar National Vision 2030. These factors will, therefore, accelerate the market at a CAGR of 10.1% during 2020–2030. 

Moreover, expansion of the construction sector in the GCC countries, on account of surging tourism activities and favorable economic conditions, will fuel the adoption of facility management services in the coming years. As a part of different strategic visions, such as the Qatar National Vision 2030 and the U.A.E. Vision 2021, the GCC member nations are allocating high budgets to the construction sector. Additionally, the increasing concentration of hotels in the region due to the escalating number of tourists will lead to the integration of facility management solutions. 

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In recent years, Saudi Arabia has generated the highest demand for facility management services, due to the growth in the tourism and infrastructure sectors. Besides, the drifting focus of the Kingdom from the oil & gas sector to the construction industry has increased the adoption of these services in residential, commercial, and industrial units. Furthermore, P&S Intelligence projects that the market in Saudi Arabia will witness a high growth in future, owing to its key real-estate plans, such as Red Sea Project, Amaala, and Al Widyan.

Thus, the growing focus on infrastructure development and the rising number of green buildings will fuel the demand for these services in the foreseeable future.

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