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New Projects Push for Facility Management Service in Saudi Arabia

Apr 10,2021 | Business Services

Saudi Arabia has planned to emphasize on the greater participation of private sector for the development of its infrastructure, most likely through public private partnerships (PPPs).

The rising involvement of private sector is expected to enable Saudi Arabia to realize its ambitious “Saudi Arabia’s National Transformation Plan, 2020” and implement “Comprehensive Public Transportation Plans” to additional five cities during the same period.Moreover, Saudi Arabia is poised to become one of the largest construction markets in the Middle East, with more than US$800 billion investments originating from large scale infrastructure projects in the country by 2030. Furthermore, Saudi Arabia government has allocated around US$43.8 billion for transportation, telecommunications, water, agriculture and other related infrastructure projects, besides several metro development projects in major cities. Infrastructure development in the country is anticipated to boost the need for facility management. The facility management market in Saudi Arabia has initiated the consolidation by inviting several Tier 1 companies to meet the expected increase in demand originating from various end users.Saudi Arabia facility management market was valued at US$ 24.15 Billion in 2019 and is forecast to grow at 7.64% CAGR during the forecast period, to reach US$ 31.48 Billion by 2025. Saudi Arabia is the largest market for facility management services in the Gulf Cooperation Council (GCC) region. The market for facility management in Saudi Arabia grew at a healthy pace during 2015-2019 due to increasing investments in the country’s construction sector. The upcoming and on-going infrastructural projects in Saudi Arabia are expected to bolster the demand for facility management services in the country. For instance, Jeddah Metro Project in Saudi Arabia is expected to be completed by end of 2020 and is anticipated to propel the demand for facility management services in the coming years.

The primary objective of the study offered on Bharatbook was to evaluate and forecast facility management market size in Saudi Arabia. The study is useful for providing key information to industry stakeholders such as facility management service providers, customers and policymakers. This study would help them to decide which market segments to be targeted over the coming years to strategize investments and capitalize on growth opportunities. 

To get more insights on the market, please visit Saudi Arabia Facility Management Market.