GCC Facility Management Market – Analysis and Forecast (2019-2024)

1. GCC Facility Management Market

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3. GCC Facility Management Market The GCC facility management market is predicted to grow at 9.4% CAGR during the forecast period with the market size reaching USD 86.8 billion by 2024. Different services such as property, cleaning, environmental management, security, support, catering, and others (contract management, utility management, furniture supplies, and reception staffing) are majorly contributing to the facility management market size. The market has witnessed significant demand for property over the last few years due to its advantages such as minimal maintenance and repair price, reduced occupant turnover, support with taxes, rent collection, and small vacancy cycles.

4. GCC Facility Management Market The mounting construction activities and projects, technological advancement, and escalating tourism are the key factors leading to the growth in the facility management market in GCC are the key factors leading to the growth in the GCC facility management market. Some of the other key factors driving the growth of the industry are mounting need of outsourced facility management and escalating emphasis on non-oil sectors. The flexibility that is required to encounter the continuously altering business needs and necessities would result, the immense opportunity for the outsourced facility management services.

5. GCC Facility Management Market Geographically, Saudi Arabia is the largest and observed to witness significant growth is the facility management market as the region the tourism industry is increasing. In addition, expanding construction activities, and rapid urbanization are also driving the growth of the Saudi Arabia facility management market. Market players in the GCC facility management industry are investing capital to develop technologically advanced systems. In April 2017, Musanadah Facilities Management partnered with CoxGomyl, an exclusive distributor in Saudi Arabia, to implement its presence in Saudi Arabia. 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 are some of the key players offering solutions for facility management in GCC.

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