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Saudi Arabia Property Management Market Forecast 2027

Saudi Arabia Property Management Market stood at USD8.59 billion in 2021 and is forecast to grow at a CAGR of over 7.02% until 2027. https://bit.ly/3swaMCP

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Saudi Arabia Property Management Market Forecast 2027

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  1. Published: December 2020 2015 – 2025 2017 – 2027 SAUDI ARABIA PROPERTY MANAGEMENT MARKET-FORECAST & OPPORTUNITIES www.techsciresearch.com www.techsciresearch.com 1 MARKET INTELLIGENCE . CONSULTING

  2. Table of Contents S. No. Contents 1. Service Overview 2. Research Methodology Executive Summary 3. 4. Voice of Customer 4.1. Overall Brand Satisfaction Level 4.2. Brand Satisfaction Level wrt Availability 4.3. Brand Satisfaction Level wrt Mode of Distribution 4.4. Brand Satisfaction Level wrt Pricing 4.5. Brand Satisfaction Level wrt Sales Service 5. Saudi Arabia Facility Management Market Outlook 6. Saudi Arabia Property Management Market Outlook 6.1. Porter's Five force Analysis Market Size & Forecast 6.2. 6.2.1. By Value Market Share & Forecast 6.3. 6.3.1. By Component (Solution and Service) 6.3.2. By Deployment (Cloud and On Premises) By End-User (Housing Associations, Real Estate Agents, Corporate Occupiers, Property Investors, and Others) 6.3.3. 6.3.4. By Application (Commercial, Industrial, and Residential) 2 2 © TechSci Research

  3. Table of Contents S. No. Contents 6.3.5. By Region (Northern & Central, Southern, Eastern, and Western) 6.3.6. By Company (2021) 6.3. Market Map (By Component, By Deployment, By End-User, By Application and By Region) Saudi Arabia Property Management Solutions Market Outlook 7. 7.1. Market Size & Forecast 7.1.1. By Value 7.2. Market Share & Forecast By Component (Lease Accounting and Real Estate Management, Asset Maintenance Management, Workspace and Relocation Management, and Reservation Management) 7.2.1. 7.2.2. By Deployment 7.2.3. By End-User 7.2.4. By Application Saudi Arabia Property Management Service Market Outlook 8. 8.1. Market Size & Forecast 8.1.1. By Value 8.2. Market Share & Forecast 8.2.1. By Component (Hard Service and Soft Service) 8.2.2. By Deployment 8.2.3. By End-User 8.2.4. By Application 3 3 © TechSci Research

  4. Table of Contents S. No. Contents 9. Market Dynamics 9.1. Drivers 9.2. Challenges 10. Market Trends and Developments 11. Policy and Regulatory Landscape 12. Saudi Arabia Economic Profile 13. Impact of COVID-19 on Saudi Arabia Property Management Market 14. Company Profiles 14.1. Unified Asset & Property Management (UAPM) 14.2. Ray White International Kingdom of Saudi Arabia 14.3. Colliers International (Saudi Arabia) 14.4. Olaat Properties Management Company 14.5. Alandalus Property Company 14.6. Property Management and Development Company 14.7 SAB Constructions & Properties Company Limited 14.8. Al Khozama Management Company 14.9. BOUALVARD Facilities Management LLC 14.10. Takamul AlOula Facility Management 14.11. Jones Lang LaSalle Saudi Arabia Limited 4 4 © TechSci Research

  5. Table of Contents S. No. Contents 14.12. Century21 Saudi 14.13. In4 Velocity Systems Private Limited 14.14. PropertyNet (KnowledgeNet Group) 14.15. SolutionDots Systems Ltd. 14.16. Yardi Systems, Inc. 14.17. RMS Cloud 15. Strategic Recommendations 16. About Us & Disclaimer 5 5 © TechSci Research

  6. Service Overview

  7. Service Overview Scope of Report: Property Management Property management is the process of managing and supervising residential, commercial, and industrial properties, including shopping centers, apartments, and detached houses, among others. It also includes the management of personal property, tooling, equipment, and physical capital assets, which are acquired and used to build, repair, and maintain end item deliverables. Property management also involves administering the property owned by another party or entity. COMPONENT END-USER SAUDI ARABIA PROPERTY MANAGEMENT MARKET Solution • Housing Associations • Year Range Service • Real Estate Agents • Corporate Occupiers • DEPLOYMENT Property Investors • Review Period Others • Cloud • 2017 – 2020 On-Premises • Base Year REGION 2021 APPLICATION Western • Eastern • Estimated Year Commercial • Northern & Central • Residential • 2022 Southern • Industrial • Forecast Period 2023 – 2027 7 7 © TechSci Research

  8. Service Overview Scope of Report: Property Management Solution: It includes all the solutions that real estate agents and property managers use to keep track of all the properties • they manage and all the maintenance work that needs to be done. It is inclusive of tools and software that support the functionality, safety, and sustainability of buildings, infrastructure, and real estate. It also includes lease management, including lease administration and accounting, capital project planning and management, occupancy and space management, emergency management and business continuity, real estate management, and work order management. These solutions help to maintain the resources while controlling time and costs to ensure the maximum efficiency of the process and related facilities. These solutions can simplify property management by automating workflows with manual input. Also, they reduce human errors and allow property managers to allocate work assignments efficiently to avoid interruptions in service. Service: Services include all the hard & soft services in property management. Hard Services include mechanical, electrical & • plumbing, building maintenance, lift & door maintenance, HVAC maintenance, etc. Soft Services include furniture & equipment, vending machines, pest control etc. 8 8 © TechSci Research

  9. Research Methodology

  10. Research Methodology Data Data Analysis Data Market Profiling Developing List of Respondents Formulating Questionnaire Collection Validation In-depth secondary research was conducted to determine overall market size, segmental market size and top players in the Saudi Arabia property management market. The data was scrutinized using MS-Excel, statistical tools and internal proprietary database to obtain qualitative and quantitative insights about Saudi Arabia property management market. Data obtained as a result of primary and secondary research was validated through rigorous triangulation. TechSci conducted interviews with industry experts and industry players for data collection and verification. In order to conduct industry experts’ interviews, TechSci formulated a detailed discussion guide. List of industry players and industry specialists was developed. Primary Research Desk Research Company Analysis ✓ ✓ Recent Developments Market Changing Aspects/Dynamics Government Policies Final Conclusion ✓ ✓ Market Participants Key Strengths ✓ Identifying Key Opinion Leaders Questionnaire Design In-depth Interviews ✓ ✓ ✓ ✓ Primary Research Secondary Research Paid Sources LinkedIn TechSci Internal Database Company Websites Company Annual Reports White Paper Study Financial Reports Investor Presentations Regulatory Body Associations, etc. Factiva Hoovers ✓ ✓ ✓ ✓ ✓ ✓ Actionable Insights Data Filter & Analysis Business Solution Data Collection Research & Intelligence ✓ ✓ ✓ ✓ ✓ 10 10 © TechSci Research

  11. Research Methodology Baseline Methodology Our dedicated team of industry experts has monitored and analyzed various aspects of Saudi Arabia property management market. The team has analyzed the outlook of various segments of this market, while considering the major influencing factors such as sustainable smart city developments, growth in real estate sectors, government projects & initiatives and projected a steady growth during the forecast period. The study includes market forecasting, which would enable our clients to take better decisions while planning their strategy to achieve sustainability in Saudi Arabia property management market. Methodology Followed for Calculation of Market Size: Market Size by Value: Market size, in terms of value, for the year 2021 was calculated based on information collected through exhaustive secondary research and primary surveys, with various key opinion leaders/stakeholders, such as property management service providers, industry experts, etc. The team interviewed more than 20 companies, 50 industry experts and other value chain stakeholders in Saudi Arabia property management market to obtain the overall market size during 2017-2021, which was validated by the Delphi technique. Taking standard deviation into consideration, the market size was averaged out, to arrive at the market size data for 2017- 2021. 11 11 © TechSci Research

  12. Research Methodology Respondents were asked about the current and future market growth rates, as well as market shares by component, by deployment, by end-user, by application, by region and by company. Removing the outlier responses, the geometric mean of growth estimates and service provider wise revenue shares generated across various segments were considered, to arrive at the final revenue shares. Revenue shares generated across various segments were further triangulated based on the primary interview response from other stakeholders. Methodology Followed for Calculation of Market Shares: Market shares by component, by deployment, by end-user, by application, by region and by company were calculated based on the responses received through primary surveys with industry experts, in which the respondents were asked about the market shares of the leading property management service providers. The final shares were calculated by taking the geometric mean of the responses gathered from key opinion leaders after eliminating the outliers. Moreover, respondents were asked about the leading companies in Saudi Arabia property management market which was validated with the revenues reported by the service providers specific to their property management segment in their annual reports, company websites and other secondary sources. Note: (a): Sum of some shares may not be 100% due to round off till two decimal places. (b) The market data for 2021 is actual only for 9 months (till Sep 2021), for rest 3 months (October 2021- Dec 2021), the data is estimated as the financials of few companies for full year 2021 have not disclosed yet. 12 12 © TechSci Research

  13. Research Methodology Methodology Followed for Forecasting: TechSci Research performed logical checks on the data collected through surveys and analyzed the results. Data triangulation techniques were applied to fill the gaps and to present a more meaningful picture of the market. To forecast Saudi Arabia property management market. TechSci Research used various forecast techniques such as: Moving Average Time Series Analysis Regression Analysis Econometric and Judgmental Analysis o o o o TechSci Research used its own forecast tool, which is based on the growth of various allied industries in Saudi Arabia. TechSci Research also used impact analysis during short, medium and long term period to estimate and analyze market demand scenario. Unified Asset & Property Management, Ray White International Kingdom of Saudi Arabia, Colliers International (Saudi Arabia), Olaat Properties Management Company, Property Partial List of Companies Interviewed Management and Development Company, Alandalus Property Company, SAB Constructions & Properties Company Limited, Al Khozama Management Company, Century21 Saudi among others Some of the specific secondary sources referred during report production are Ministry of Municipal & Rural Affairs & Housing, Saudi Arabia Authority of Statistics, Saudi Contractor Authority, Middle East Facility Management Association, MEED Projects, etc. Partial List of Secondary Sources Other secondary sources referred are Company Websites, Company Annual Reports, White Paper Study, Financial Reports, Investor Presentations, Regulatory Body, Associations, TechSci Research Proprietary Database &, Knowledge Repository. Other secondary macroeconomic factors considered are GDP, population etc. from World Bank, IMF, etc. 13 13 © TechSci Research

  14. Industry Brief Demand for property management services in commercial buildings is driving the growth of the Saudi Arabia property management Market, in the forecast period, 2023-2027. According to TechSci report on, “Saudi Arabia Property Management Market - By Region, Competition Forecast & Opportunities, 2027”, Saudi Arabia property management market is anticipated to grow during the forecast period, 2023F-2027F, with a CAGR of 7.02% and achieve market value of USD13.26 billion by 2027F. Rising demand for advanced technology for operation, control, maintenance, and oversight of real estate in property management are anticipated to drive the growth of the Saudi Arabia property management market in the upcoming five years. Expanding real estate sector through increasing construction of residential complexes, corporate offices, and commercial buildings, along with the growing industrial construction like factories and other manufacturing units, further supports the growth of the Saudi Arabia property management market in the next five years. Due to Saudi Vision 2030, rapidly increasing infrastructure investment to advance the healthcare, education, recreation, tourism industries etc. is also aiding the growth of the Saudi Arabia property management market. The country is evolving from simply an oil-based country to a digital economy, which is further substantiating the growth of the Saudi Arabia property management market in the forecast years, through 2027. Moreover, the government is working towards developing smart and sustainable cities to protect environment and maintain a perfect balance between economic and social development. Such projects utilize automation and modern data-driven technology for providing property management services and therefore further drives the growth of the Saudi Arabia property management market in the forecast period. The Saudi Arabia property management market segmentation is based on component, deployment, end user, application, regional distribution, and competitional landscape. Based on deployment, the market is divided into cloud and on premises. On premises deployment of the property management services is anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years on grounds of increasing demand for day-to-day repairs and ongoing maintenance and security. Increasing investment from the government towards smart city construction also supports the growth of the Saudi Arabia property management market in the next five years. Cloud based deployment of property management services is also anticipated to register fastest growth in the forecast period due to growing adoption of cloud services by midsize and large organizations to store the data with high security. Increasing outsourcing of property management and related services to focus on core business and improve performance further facilitates the growth of the cloud-based services in the market. Based on end user, the market is further segmented into corporate occupiers, real estate agents, housing associations, property investors, and others that include property managers, third party agents, etc. Corporate occupiers are anticipated to hold the largest revenue shares of the market and dominate the market segment in the next five years on grounds of increasing corporate complexes in the country. Advancing technology for the management of the construction and related data also aids to the growth of the segment. A partial list of major market players of the Saudi Arabia property management market includes Unified Asset & Property Management (UAPM), Ray White International Kingdom of Saudi Arabia, Colliers International (Saudi Arabia), Olaat Properties Management Company, Alandalus Property Company, Property Management and Development Company, SAB Constructions & Properties Company Limited, Al Khozama Management Company, Boualvard Facilities Management LLC, Takamul AlOula Facility Management, Jones Lang LaSalle Saudi Arabia Limited, Century21 Saudi, In4 Velocity Systems Private Limited, PropertyNet (KnowledgeNet Group), SolutionDots Systems Ltd., Yardi Systems, Inc., RMS Cloud “Northern & central region of the kingdom of Saudi Arabia is expected to dominate the market with the largest revenue shares in the upcoming five years on account of highest population count in the region. Growing population further demands for the higher construction of residential buildings, corporate complexes, etc. thus aiding the growth of the market in the future five years. Rapidly increasing investment and development of the smart cities in the region along with the increased tourism activities are expected to substantiate the growth of the Saudi Arabia property management market in the forecast years,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm. 14 14 © TechSci Research

  15. Sample Data - Snapshot Saudi Arabia Facility Management Market Size, By Value (USD Billion), 2017-2027F CAGR 2022E-2027F By Value: xx% CAGR 2017-2021 By Value: xx% 2017 2018 2019 2020 2021 2022E 2023F 2024F 2025F 2026F 2027F Value (USD Billion) Saudi Arabia Property Management Market Share, By Component, By Value, 2017-2027F 2017 2018 40.00% 60.00% 2019 40.00% 60.00% 2020 40.00% 60.00% 2021 40.00% 60.00% 2022E 40.00% 60.00% 2023F 40.00% 60.00% 2024F 40.00% 60.00% 2025F 40.00% 60.00% 2026F 40.00% 60.00% 2027F 40.00% 60.00% Solution 40.00% Service 60.00% Saudi Arabia Property Management Solutions Market Share, By End-User, By Value, 2017-2027F 2017 5.00% 10.00% 2018 5.00% 10.00% 15.00% 20.00% 50.00% 2019 5.00% 10.00% 15.00% 20.00% 50.00% 2020 5.00% 10.00% 15.00% 20.00% 50.00% 2021 5.00% 10.00% 15.00% 20.00% 50.00% 2022E 5.00% 10.00% 15.00% 20.00% 50.00% 2023F 5.00% 10.00% 15.00% 20.00% 50.00% 2024F 5.00% 10.00% 15.00% 20.00% 50.00% 2025F 5.00% 10.00% 15.00% 20.00% 50.00% 2026F 5.00% 10.00% 15.00% 20.00% 50.00% 2027F 5.00% 10.00% 15.00% 20.00% 50.00% Corporate Occupiers Real Estate Agents Housing Associations 15.00% Property Investors Others 20.00% 50.00% 15 15 © TechSci Research

  16. Report Ordering Report Name: SAUDI ARABIA PROPERTY MANAGEMENT MARKET FORECAST & OPPORTUNITIES 2017 – 2027 License Type Single User License Price $3500 Multi-User License Custom Research License $4500 $7500 To View Sample OR Purchase Report 16 16 © TechSci Research

  17. About Us & Disclaimer TechSci Research is a global market research and consulting company with offices in the US, UK and India. TechSci Research provides market research reports in number of areas to organizations. The company uses innovative business models that focus on improving productivity, while ensuring creation of high-quality reports. The proprietary forecasting models use various analyses of both industry-specific and macroeconomic variables on a state-by-state basis to produce a unique ‘bottom-up’ model of a country, regional and global industry prospects. Combined with the detailed analysis of company activity and industry trends, the result is a uniquely rich evaluation of the opportunities available in the market. Related Reports Brazil Facility Management Market By Service (Property, Cleaning, Catering, Security, Support & Others), By Type (Hard, Soft & Others), By Application • (Residential, Commercial & Industrial), By Source (Outsource & Inhouse), By Industry (Organized & Unorganized), Competition, Forecast & Opportunities, 2027 Canada Facility Management Market By Services (Property, Cleaning, Security, Catering, Support, Others), By Type (Hard, Soft), By Application (Industrial, • Commercial, Residential), By Outsource Vs Insource, By Organized Vs Unorganized, By Region, Competition Forecast & Opportunities, 2027 Saudi Arabia Facility Management Market By Service (Property, Cleaning, Security, Support, Catering & Others), By End User (Commercial, Industrial & • Residential), By Region Competition Forecast & Opportunities, 2027 • TechSci Research – North America 708 Third Avenue, Manhattan, New York, United States Tel: +1- 646- 360- 1656 Email: sales@techsciresearch.com www.techsciresearch.com TechSci Research – Europe 54, Old brook, Bretton, Peterborough, United Kingdom Email: sales@techsciresearch.com www.techsciresearch.com TechSci Research – Asia-Pacific B – 44, Sector – 57, Noida, National Capital Region, U.P. - India Tel: +91-120-4523900 Email: sales@techsciresearch.com www.techsciresearch.com • • Disclaimer The contents of this report are based on information generally available to the public from sources believed to be reliable. No representation is made that it is timely, accurate or complete. TechSci Research has taken due care and caution in compilation of data as this has been obtained from various sources including which it considers reliable and first hand. However, TechSci Research does not guarantee the accuracy, adequacy or completeness of any information and it is not responsible for any errors or omissions or for the results obtained from the use of such information and especially states that it has no financial liability whatsoever to the subscribers / users of this report. The information herein, together with all estimates and forecasts, can change without notice. All the figures provided in this document are indicative of relative market size and are strictly for client’s internal consumption. Usage of the same for purpose other than internal will require prior approval of TechSci Research.

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