According to MarkNtel Advisors, the GCC Facility Management Market is projected to witness around 8.2% CAGR during 2021-26. It owes prominently to the rising travel & tourism in the region, i.e., highly supported by the governments of GCC countries for infrastructural developments to reduce the economic reliance on the oil sector and diversify it across other sectors. The countries in the GCC region have one of the largest pipelines for developing hotels.
For instance, Saudi Vision 2030 is projected to create a pool of lucrative growth opportunities for facility management service providers. With the growing establishment of companies, facility management services would help commercial & industrial organizations to focus on their core operations, thereby enhancing the competitiveness of enterprises. Besides, the expansion of small & medium-scale facilities management service providers would provide the country’s SME sector a significant boost in the coming years.
Moreover, the increasing number of construction activities led by the governments of GCC countries and their burgeoning focus on green building practices are also increasing the demand for both hard & soft facility management services, further states the research report, “GCC Facility Management Market. 2021”
Key Questions Answered in the Study
Hard Facility Management Services Ruled the Market
The increasing need of most companies for management services to look after their physical assets is the prime aspect driving the demand for Hard facility management services. These services include managing air conditioning, lighting, heating, temperature, plumbing, wiring, fire safety, building maintenance, etc., which all are the crucial aspects of a facility. Besides, the growing establishment of several multinational corporations across the GCC region is another critical factor fueling the demand for hard facility management services.
Numerous Initiatives by Qatar Government to Encourage the Adoption of Facility Management Services during 2021-26
On the Geographical front, Qatar is projected to experience the fastest growth of the GCC Facility Management Market in the coming years. It owes principally to the swiftly rising construction projects associated with malls, stadiums, and towers, among others in the country, due to the mounting investments in infrastructural development & increasing government focus on developing green buildings. Besides, the active participation of the government through various initiatives toward raising awareness about the numerous benefits of these services shall also boost the market in Qatar.
The Middle East Facility Management Association (MEFMA) & Qatar Green Building Council (QGBC) together established a Facility Management Interest Group to meet & share the best facility management practices and raise awareness regarding sustainability & green buildings throughout Qatar, reveals MarkNtel Advisors in their research report, "GCC Facility Management Market Analysis, 2021."
Leading Companies in the Market
According to MarkNtel Advisors, the leading players in the GCC Facility Management Market are EMCOR Group Inc., Emrill Services LLC., United Facilities Management, Khidmah LLC, Cofely Besix Facility Management, Kharafi National, Interserve plc, Imdaad LLC, Musanadah Facilities Management Co. Ltd., and Farnek Services LLC.