The Gulf Cooperation Council facility management market is a growing market and will reach a value of about $137,298 million by 2030. This is majorly credited to the increasing requirement for facility management services in residential and commercial buildings, civil infra projects, and industrial units.
The property category was the largest in the industry in the past. This was since of the growing requirement for property management services like HVAC maintenance and mechanical & electrical maintenance, at the afresh erected buildings in GCC nations.
HVAC maintenance services were the highest demanded in the past. This is majorly credited to the extreme weather conditions in GCC nations resulting in a high dependency of buildings on HVAC systems will fuel the requirement for their maintenance in the years to come.
The commercial category will grow the fastest in the industry in the years to come. This has a lot to do with to the increasing consciousness on expenditure optimization amongst users for commercial building management.
Furthermore, the snowballing necessity for maintenance and cleaning services, for striking and clean facilities, for attracting customers will fuel the growth of the industry.
Hard services had the largest share in the industry in the past. This can be credited to the increasing acceptance of innovative hard services that need negligeable staff for organizing the work atmosphere in different sectors.
Furthermore, the entry of MNCs in GCC countries is increasing the requirement for hard facility management services. The other key reason was the increase in the FDI in the energy management and estate sectors, driving the industries for hard services in member countries.
One of the main factors driving the industry in Qatar is the stable expansion of residential and commercial properties in the country.
As stadiums, malls, towers, and other structures are constructed, the industry will witness exponential growth in the years to come. For promoting, educating, and empowering facility management providers in the area of sustainable practices, a novel initiative was launched.
The major trends in the GCC facility management market are the strict regulatory environment and monetary development. Most member nations have introduced strategic plans or visions for the expansion of sectors except energy, for strengthening their economies.
Moreover, the growing competition and high pressure since of the strict governing requirements are compelling companies for evaluating their way of directing business. For dealing the tight guidelines and high scrutiny, administrations are looking for ways for minimizing risks and accomplish their facilities competently.
For achieving this, they started engaging facility management companies able to deliver and manage these services and also bear the risks related with them.
It is due to the increasing construction activities in the GCC nations, the demand for GCC facility management services is on the rise.
Source: P&S Intelligence
