The steep decline in oil prices after 2014 has shifted the focus of the country towards the development of tourism, hospitality, etc. Moreover, the surging support by the government has positively impacted the growth of hospitality sector in the country. The establishment of new hotels is anticipated to boost the demand for facility management services in the years to come. The year on year percentage change from FY 2017 to FY 2018 in hotel supply was 3%.
According to the MarkNtel Advisors’ research report, “Kuwait Facility Management Market Analysis, 2020”, the facility management market is projected to register a CAGR of around 8% during 2020-25. The commercial sector captured the highest market share in the Kuwait facility management market. The rising number of corporate offices in the country is one of the major drivers for the maximum share of commercial sector. Moreover, the residential sector captures a considerable share in the Kuwait facility management market due to several housing projects introduced in the country.
According to MarkNtel Advisors, the key players with a substantial market share in the Kuwait facility management market include United Facilities Management (UFM), EFS Facilities Services, Al Mazaya Holding Company, Tanzifco, Kharafi National, Fawaz Group, etc.
