DUBLIN–(BUSINESS WIRE)–The “Middle East Facility Management Market Segmented By Industry (Organized and Unorganized), By Service (Property, Cleaning, Security, Catering, Support, and Others), By Application, By Type, By Country, Competition Forecast and Opportunities, 2017-2027” report has been added to ResearchAndMarkets.com’s offering.
Middle East Facility Management Market was valued at USD 64.27 billion in 2022 and is anticipated to project robust growth during the forecast period, registering a CAGR of 8.13% through 2027.
A facility is any tangible asset used by an organization to support its activities, according to a common definition of the word. The term ”facility management” refers to the upkeep of a company’s physical assets, such as its buildings and machinery, through services such as cleaning, security, mechanical, electrical, and plumbing (MEP) maintenance, etc., which boosts the efficiency of the company’s core operations.
The International Facility Management Association (IFMA) describes facility management (FM) as a profession that integrates place, people, process, and technology to ensure that the built environment is functioning. In a nutshell, facility management is a discipline that supports a company’s fundamental operations.
Growing Middle Eastern Infrastructure Development
The development of Qatar’s infrastructure is a priority for the government, as it aids in the country’s economic growth. In its budget for 2021, the Ministry of Municipality and Environment of Qatar allotted USD 7 billion for the continuation of key infrastructure projects, water and electricity networks, as well as the upkeep, development, and expansion of highways. In addition, the Qatari government intended to invest USD 58 billion in infrastructure projects by 2020.
Additionally, Qatar’s infrastructure growth is a result of industrialization. For instance, the Manateq Economic Zones Company declared in 2020 that it will invest USD 2.7 billion to build out the essential infrastructure for industrial zones. As a result, the Qatar Facility Management Market is expected to grow during the forecast period along with the increased investments in infrastructure development.
Government Investments
The construction industry in Qatar has experienced rapid expansion, demonstrating its willingness to become green and prioritize more environment-friendly building strategies. The nation’s desire to protect the environment by lowering CO2 emissions and energy use is the driving force behind this choice.
As a result, one of the key ideas outlined in Qatar’s National Vision 2030 is sustainable development. As a result, the local regulatory authority, the Qatar Green Building Council (QGBC), has been aggressively encouraging sustainable methods. The governing body is promoting sustainability in the public and business sectors by putting on the Qatar Sustainability Week (QSW).
The most thorough green building assessment system in the world is the Global Sustainability Assessment System (GSAS) system, which was created by Qatar. It was created following a thorough analysis of 40 green building codes that are available globally. The guidelines established a heavy emphasis on environmental stress reduction and sustainable development. As a result, growth for Qatar Facility Management Services is expected during the next few years.
World Expo 2020 Dubai
The six-month World Expo 2020 took place in Dubai from October 2021 to March 2022. This important event necessitated lodging from the hospitality industry, which increases the demand for facilities management services in hotels and bed & breakfasts.
Additionally, by ensuring the safe and efficient operation of any physical asset, facilities management professionals play a crucial role in maintaining and expanding its value. Representatives from the diverse variety of people and professions that make up the FM sector were present at FM Expo.
For instance, the UAE-based Farnek Services LLC had contracts for facilities management (FM) worth a total of USD 4.55 million with eight national pavilions, including Saudi Arabia and China. Farnek Services provides a variety of services, including facility integration, cleaning, pest control, and operational support.
Integrated workplace management system usage is on the rise (IWMS)
By managing the real estate portfolio, maximizing capital projects, enhancing facility use, and lowering energy and other operating expenses of facilities, the IWMS seeks to increase the operational, environmental, and financial performance of facilities.
Further driving demand for IWMS in the UAE Facility Management Market are elements such as rising cloud computing usage and government mandates on technological developments.
Middle East Facility Management Market Overview
Industry Structure & Stakeholders
- Key Stakeholders
Porter’s Five Force Analysis
Outsourcing in Middle East Facility Management Market
- Reasons Necessitating Outsourcing Facilities Management Services
- Evolution of Outsourcing in Facility Management Market
Middle East Facility Management-Value Chain
Key Technologies Adopted in Middle East Facility Management Market
Key Pain Points in Middle East Facility Management Market
- Key Pain Points for Customers
- Key Pain Points for Facility Management Companies
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in Middle East Facility Management
Saudi EMCOR Company Ltd (EFS Facility Management)
- Muheel Services for Maintenance & Operations LLC
- Khidmah LLC
- Enova Facilities Management Services LLC
- Saudi Binladin Group Operation & Maintenance
Report Scope:
Middle East Facility Management Market, By Service Type:
- Property
- Cleaning
- Security
- Support
- Catering
- Others
Middle East Facility Management Market, By Type:
- Soft Services
- Hard Services
Middle East Facility Management Market, By Industry:
- Unorganized
- Organized
Middle East Facility Management Market, By Application:
- Commercial
- Residential
- Public Sector
Middle East Facility Management Market, By Region:
- Saudi Arabia
- UAE
- Qatar
- Kuwait
- Bahrain
For more information about this report visit https://www.researchandmarkets.com/r/7z87th
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