U.A.E. Facility Management Market to Witness an Outstanding Growth in Coming Years

The direct contribution of the travel and tourism sector to the gross domestic product (GDP) of the U.A.E in 2016 was $18.7 billion, which was 5.2% of the total GDP, according to the online government portal. From 2017 to 2027, the contribution of this sector to the country's GDP is expected to increase by 5.1% per annum to $31.6 billion. This remarkable growth in the tourism industry is playing a major role in the growing adoption of facility management services.

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The U.A.E. has major tourist destinations including Abu Dhabi, Sharjah, and Dubai. Owing to the large number of attractions located in Dubai, the city receives the highest number of tourists in the country. Keeping in mind the huge tourist inflow, many construction projects are in the pipeline, such as the $1.7 billion mega tourist resort Marsa Al Arab, a Formula One Theme Park in Dubai's Motor City, the new IMG Worlds of Legends Theme Park, and Six Flags at Dubai Parks and Resorts, which are already giving a boost to facility management services.

A study published by P&S Intelligence claims that the U.A.E. facility management market would garner $23,882.3 million in the coming time to grow significantly from the $13,577.4 million, which it amassed in 2018, at a 9.8% CAGR. Facility management services maintain the functionality of built structures by integrating people, processes, and technology. These services include catering, cleaning, support, property, environment management, and security services.

In 2018, the highest demand was for property services due to the large number of heating, ventilation, and air conditioning systems and other electrical appliances installed in buildings, which need regular maintenance. In the coming years, the demand would grow the fastest for environment management services due to the rising focus on waste management and sustainable development in the country.

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U.A.E. FACILITY MANAGEMENT MARKET SEGMENTATION

Market Segmentation by Service

Property
HVAC maintenance
Mechanical and electrical maintenance
Others
Cleaning
Security
Catering
Support
Environmental Management
Others
Market Segmentation by End User

Commercial
Residential
Industrial
Market Segmentation by Mode

In-house
Outsourced
Integrated
Bundled
Single
Market Segmentation by Type

Hard
Soft
Others

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P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

This release was published on openPR.