Saudi Arabia Facility Management Market to Surpass USD31.48 Billion in the Next Five Years
Increasing
investments in large infrastructure projects and increasing number of foreign
players in the Saudi Arabia facility management market to fuel demand for
facility management services in Saudi Arabia through 2025
According to TechSci Research
report, “Saudi
Arabia Facility Management Market By Service (Property, Cleaning, Security,
Support, Catering & Others), By End User (Commercial, Industrial &
Residential), Competition, Forecast & Opportunities, 2015 – 2025”, Saudi Arabia facility management market was valued USD 24.15 Billion in
2019 and is forecast to grow at 7.64% CAGR during the forecast period, to reach
USD 31.48 Billion by 2025. In Saudi Arabia, facility management is being
increasingly incorporated in the designing of buildings which helps builders to
construct buildings that can be easily maintained over a long period of time.
Facility managers are consulted at the start of the design phase to provide
feedback on effective utilization of project area, landscaping, fire and safety
systems and lifecycle cost analysis of the building.
Over the lifecycle of a building, almost 80% of
total cost is incurred in facility management. Facility management in building
design aims to reduce the total cost of these services over the building’s
entire lifecycle. Furthermore, facility management integration helps the owners
to easily manage and control the facility with minimum disruption possible,
thereby increasing the total life of the buildings.
Leading companies
operating in the Saudi Arabia facility management market include Saudi EMCOR
Company Ltd (EFS Facility Management), Khidmah LLC, Enova Facilities Management
Services LLC, Muheel Services For Maintenance & Operations LLC, Musanadah
Facilities Management Company Ltd., Al Mahmal Facilities Services, Al Khozama
Facility Management Services, Five Moons Company Ltd., Takamul AlOula Facility
Management, Al Borj Facility Management, Saudi Binladin Group Operation &
Maintenance, and others.
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Makkah province is
anticipated to dominate demand for facility management services in the country.
The province is the most popular region among both travelers and pilgrims
visiting Saudi Arabia as it houses two holy mosques, which are the holiest place for the Muslim community. Thus, the province registers one
of the highest number of visitors in the country. Also, it boasts majority of establishments
in the hospitality industry in Saudi Arabia. As of 2019, a total of 1,547 hotels
are operating and over 15,700 buildings are under construction in the province.
With the completion of these buildings, demand for facility management services
is expected to surge in the province.
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“In 2019, Makkah accounted for
the largest share i.e. 32.56% in Saudi Arabia facility management market. The
region is expected to maintain its dominance over the next five years as well.
Makkah is one of the most popular regions in Saudi Arabia. The province boasts
Mecca City, the holy pilgrimage site for Muslims, and Jeddah, which is
considered as the commercial capital of Saudi Arabia. Tourism activities in
Makkah and Madinah is expected to contribute to the growth in hotel industry,
thereby creating ample demand for facility management services in the region.,” said
Mr. Karan
Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Saudi
Arabia Facility Management Market By Service (Property, Cleaning, Security,
Support, Catering & Others), By End User (Commercial, Industrial &
Residential), Competition, Forecast & Opportunities, 2015 – 2025” has evaluated the future growth
potential of the facility management market in Saudi Arabia and provided
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 along with essential drivers, challenges and opportunities
available in Saudi Arabia facility management market.
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