Facility Management Market in Kuwait to Grow at 9% CAGR during 2017 – 2022
According to a recently
published TechSci Research report, “Kuwait Facility Management Market By Service, By
Application, Competition Forecast & Opportunities, 2012 – 2022”, the facility management market in Kuwait is projected to
grow at a CAGR of more than 9% during 2017 – 2022, to reach $ 2.5 billion by 2022. Government’s ‘New Kuwait 2035
Mission’ is expected to support the country’s construction and private sectors during
the forecast period, thereby positively influencing Kuwait facility management
market in the coming years. Moreover, increasing demand for integrated facility
management services instead of standalone services due to higher consumer
preferences for integrated service offerings in smart cities is anticipated to
thrive Kuwait facility management market in the coming years.
Browse 15 market data Tables and 47 Figures spread through 103 Pages
and an in-depth TOC on "Kuwait Facility Management Market"
https://www.techsciresearch.com/report/kuwait-facility-management-market/1479.html
In 2016, Kuwait government awarded
projects worth $ 7.5 billion, which resulted in an increase in investments in
ongoing and planned projects to $ 250 billion. One of the largest housing
projects underway in the country is South Al Mutlaa City Housing, which is estimated
to cost nearly $ 1 billion and entail 9,000 residential units, schools and
other facilities. The project is scheduled for completion by September 2019.
Such projects in the country are anticipated to boost demand for facility management
services during forecast period. Over the coming years, Al Asimah region is
anticipated to dominate Kuwait facility management market as it is the commercial
hub of the country, consequently, requiring facility management services on a
large scale.
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“Kuwait facility management market
is on the rise due to increasing construction activities in the country and increasing
focus on ‘New Kuwait 2035 Mission’, which is anticipated to transform Kuwait
into a major commercial and financial hub in the Middle East region. This would
result in huge demand for facility management services including property,
cleaning, security, catering, support and other services from the country’s commercial,
industrial as well as residential sectors over the course of next five years.”,
said Mr. Karan Chechi, Research Director with TechSci Research, a research
based global management consulting firm.
“Kuwait Facility Management Market By Service, By
Application, Competition Forecast & Opportunities, 2012 – 2022” has evaluated the facility
management market in Kuwait and has provided the statistics and information on
market structure, industry behavior and trends. The report includes market
projections and demand forecasting. The report is intended to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes emerging trends and
growth opportunities emanating in Kuwait facility management market.
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