Gurugram, India, Dec. 14, 2022 (GLOBE NEWSWIRE) -- KSA Facility Management market is at the growing stage with huge profitability potential marked with the presence of 50+ Facility Management Service providers and increasing.
- The Government policies like 15% VAT exemption on real estate deals, large scale affordable housing program would boost residential real estate.
- In future years, companies need to increase their service portfolio by adding new building management, energy management services, and others as per the changing demand patterns.
- Rapid real estate development in terms of smart city development, new infrastructure developments, and focus on tourism and hospitality promotion are the supporting factor for commercial facility management services revenue.
Focus on Green Building Management: Green buildings aim at increasing the efficiency of resource usage while minimizing their negative impact on humans and surroundings. Saudi Arabia Green Building Forum is a providing leadership and encouraging collaboration in conducting environmentally sustainable practices for green building design and development.
KSA Vision 2030: Under Vision 2030, the government has introduced several mega projects like NEOM, The Red Sea etc. creating a positive impact in terms of boosting tourism and hospitality. Saudi Arabia aspires to become a significant tourist destination by 2030, with tourism capital expenditure estimated to exceed SAR 200 Bn in the next ten years.
Infrastructure and Industrial Development: Saudi plans to invest approximately $ 1 trillion in its non-hydrocarbon sector by 2035. The Governments is promoting industry localization in the Kingdom to promote future job opportunities and reduce dependence on hydrocarbons. International companies are forming a strategic alliance with local companies to penetrate the Saudi Market. Examples: Zamil group and International Maritime Industries launch OSV joint venture. The new joint venture would address the needs of the local market but also go beyond that and compete in the regional and international arena.
Facility Management Market Performance: The Facility Management Market in Saudi Arabia reached more than $ 20 Bn in 2021 owing to the growth in commercial and residential real estate. The market continues to be attractive because higher competition, leading to greater scrutiny of contracts, contract renewals and customized contracts.
Analysts at Ken Research in their latest publication “KSA Facility Management Market Outlook to 2026F- Driven by the government initiatives to promote Tourism along with Saudi Vision 2030 and infrastructure developments in the country” By Ken Research observed that Facility Management market is an emergent market in KSA at a rebounding stage from the economic crisis after pandemic. The rising government policies and demand for facility services, inclusion in real estate plans along with government initiatives is expected to contribute to the market growth over the forecast period. The market is expected to grow at a 7.8% CAGR during 2021-2026F.
Key Segments Covered in the report:-
KSA Facility Management Market
By Type of Services
- Soft Services
- Hard Services
By Soft Services
- Housing keeping
- Security
- Landscaping
- Others
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By Hard Services
- Electromechanical Services (including HVAC)
- Operations and Maintenance Services
- Fire Safety and Security Systems
By Service Type
- Integrated facility management (IFM)
- Bundled services
- Single services
By End user Sector
- Commercial (Includes Offices, retail, infrastructural)
- Residential
- Industrial
By Personal Type
- Outsourced Personnel
- In-House Personnel
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Key Target Audience:-
- Factories
- Plants and Industries
- Hotels
- Hospitals
- Malls
- Companies and offices
- Tourism Agencies
- Government Bodies & Regulating Authorities
- Facility management companies
- Real estate companies
Time Period Captured in the Report:-
- Historical Period: 2016-2021
- Forecast Period: 2021-2026F
Companies Covered:-
- Al Yamama
- Aljahrary Overseas
- Zahran Operations & Maintenance
- Zamil Operations and Maintenance
- Almaja G4sl Facility Management
- Initial Saudi
- Safari
- ENOVA
- Nesma United
- Alborj Facility Managment
- Khidmaah
- Saudi Emcor (EFS)
- Musanadah Facilities Management (MFM)
- El Seif (ESOM)
Key Topics Covered in the Report:-
- Saudi Arabia Real Estate Market Overview, 2021
- Major Real Estate Giga Projects in Saudi Arabia
- Saudi Arabia Facility Management Market Ecosystem
- Business Cycle, Genesis and Timeline of Saudi Arabia Facility Management Market
- Value Chain & Vendor Selection Process of KSA Facility Management Market
- Business Acquisition Process in Saudi Arabia Facility Management Market
- Saudi Arabia Facility Management Market Size, 2021
- Saudi Arabia Facility Management Market Segmentation, 2021
- SWOT Analysis of Saudi Arabia Facility Management Market
- Key Growth Drivers in Facility Management Market in Saudi Arabia
- Trends and Developments in Saudi Arabia Facility Management Market
- Major Challenges Faced by the Saudi Arabia Facility Management Market
- Competition Framework for Saudi Arabia Facility Management Market
- Future Outlook and Projections of the Industry, 2021-2026F
- Market Opportunities and Analyst Recommendations
For more insights on the market intelligence, refer to the link below:-
KSA Facility Management Market
Related Reports By Ken Research:-
Qatar Facility Management Market is currently at the growing stage owing to growing trend amongst clients opting for integrated facility management and single services, heavy investment in new technologies. The market has registered a positive growth over the historical period 2016-2021 owing to the growth in commercial and residential real estate. The construction sector is a major contributor to GDP of the country, high growth rate of construction further boosted the demand for services. The market continues to be attractive because higher competition, leading to greater scrutiny of contracts, contract renewals, customized contracts.
Chile facility management market was observed in its growing stage. The market in terms of revenue has increased at a positive double digit CAGR during the review period of 5 years from 2013 to 2018. This growth was supported by increasing investor activities, cost control measures, greater demand from many end user sectors, adoption of sustainable practices and technological advances, along with the rising demand for commercial and industrial sector in the country, wherein market players catered to the needs of the clients for both hard services and soft services. Growth of the construction industry, owing to the government’s plan with respect to the development of transport infrastructure, energy and utilities coupled with affordable housing and investments in sea ports, railway lines, and special economic zones has triggered the demand for facility management services in the country. Integrated services segment is the largest contributor to the industry in terms of the revenues during the year 2018.
Egypt’s Real Estate Market is one of the biggest and fastest-growing markets due to government support initiatives and the rising younger population. The construction sector is a major contributor to the GDP of the country, the high growth rate of construction further boosted the demand for services Egypt Facility Management market is at the growing stage with huge profitability potential marked by the presence of 50+ Facility Management Service providers and increasing. The Market has experienced a robust growth rate over the period 2020-2021, with a sudden rise in 2021 due to COVID-19. Demand for facility management services was driven by commercial and real estate expansion, rising awareness among the clients regarding the importance of maintenance services for sustainable buildings. The market continues to be attractive because of higher competition, leading to greater scrutiny of contracts, contract renewals and customized contracts.
Vietnam Facility Management market is at a growing stage. The industry revenue has increased at a positive CAGR of over 5% during the period 2013-2018. This growth was supported by higher FDI inflows in the economy, public sector outsourcing, cost control measures, greater demand from end user sectors (such as commercial, industrial and others), rapid urbanization and technological advances, along with rising demand for commercial and residential spaces in the country, wherein market players catered to the needs of the clients for both hard and soft services. The customers in the market are highly price sensitive and a lack of awareness about the importance of facility management services has resulted in low penetration of these services.
Integrated Facility management market is relatively at a growing stage in the country and its popularity has grown in outsourcing of services and an aim to achieve cost and operational efficiency, for both clients and vendors. Facility management services are used by both local companies and MNCs in the country. However, the local companies usually prefer single or bundled services due to their small scale of operations whereas the MNCs prefer integrated facility management (IFM) services in Vietnam.
Facilities Management market in United Arab Emirates expanded at a CAGR of double digits percentage in between 2017 and 2022 on the basis of revenue generated. UAE Facilities Management market is currently at the growth stage and the market is currently increasing at a double digit CAGR owing to Expo 2020 in Dubai, demand for cost efficiency, personal attention and upgradation in technology.
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