KSA Facility Management Market Outlook to 2026F: Ken Research

Adoption of Advanced Technology, Integrated Services are contributing to the growth of Facility Management Industry in KSA: Ken Research

Increasing demand for Residential Units: The demand for residential housing units is rapidly increasing in Saudi Arabia. Factors responsible for such growth are growth in the young population, an increase in the immigrant population, rising income levels, and the introduction of a number of recent government reforms to ease access to mortgage finance. The Government policies like 15% VAT exemption on real estate deals, large scale affordable housing program are boosting residential real estate, thereby contributing to the market growth.

Focus on Tourism Industry: Tourism department signed MOUs with local banks to finance projects valued up to $40 Bn to stimulate tourism investment. In June 2020, the Ministry of Tourism announced plans to start a Tourism Development Fund with an initial $4 Bn investment. The government is promoting tourism in KSA leading to the development of hotels, resorts, shopping complexes, which is increasing the demand for various facility management services.

Saudi Vision 2030: Saudi Vision 2030 is a strategic framework to reduce Saudi Arabia's dependence on oil, diversify its economy, and develop public service sectors.

Under the program, the government has announced to deploy public-private partnerships to glorify its transportation, educational, healthcare, infrastructure projects which is further boosting the demand for facility management services.

Price Sensitivity: Saudi facility management market is highly competitive with many players operating in the country at the similar levels of revenues and margins. High price sensitivity amongst the end users, leading them to prioritize cost of services over quality makes the price competition adverse among the service providers. This is mainly due to the low awareness amongst end users about the benefits of using Facility Management services.

Analysts at Ken Research in their latest publication "KSA Facility Management Market Outlook to 2026F- Driven by the government initiatives to promote Tourism along with Saudi Vision 2030 and infrastructure developments in the country" By Ken Research observed that Facility Management market is an emergent market in KSA at a rebounding stage from the economic crisis after pandemic. The rising government policies and demand for facility services, inclusion in real estate plans along with government initiatives is expected to contribute to the market growth over the forecast period. The market is expected to grow at a 7.8% CAGR during 2021-2026F owing to the rise in economy of the country, increasing consciousness towards looks and new government policies.

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Key Segments Covered in the report

KSA Facility Management Market

By Type of Services
Soft Services
Hard Services
By Soft Services
Housing keeping
Security
Landscaping
Others
By Hard Services
Electromechanical Services (including HVAC)
Operations and Maintenance Services
Fire Safety and Security Systems
By Service Type
Integrated facility management (IFM)
Bundled services
Single services
By End User Sector
Commercial (Includes Offices, retail, infrastructural)
Residential
Industrial
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By Personal Type
Outsourced Personnel
In-House Personnel
Key Target Audience

Factories
Plants and Industries
Hotels
Hospitals
Malls
Companies and offices
Tourism Agencies
Government Bodies & Regulating Authorities
Facility management companies
Real estate companies

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Time Period Captured in the Report:

Historical Period: 2016-2021
Forecast Period: 2021-2026F
Companies Covered:

Al Yamama
Aljahrary Overseas
Zahran Operations & Maintenance
Zamil Operations and Maintenance
Almaja G4sl Facility Management
Initial Saudi
Safari
ENOVA
Nesma United
Alborj Facility Managment
Khidmaah
Saudi Emcor (EFS)
Musanadah Facilities Management (MFM)
El Seif (ESOM)
Key Topics Covered in the Report

Saudi Arabia Real Estate Market Overview, 2021
Major Real Estate Giga Projects in Saudi Arabia
Saudi Arabia Facility Management Market Ecosystem
Business Cycle, Genesis and Timeline of Saudi Arabia Facility Management Market
Value Chain & Vendor Selection Process of KSA Facility Management Market
Business Acquisition Process in Saudi Arabia Facility Management Market
Saudi Arabia Facility Management Market Size, 2021
Saudi Arabia Facility Management Market Segmentation, 2021
SWOT Analysis of Saudi Arabia Facility Management Market
Key Growth Drivers in Facility Management Market in Saudi Arabia
Trends and Developments in Saudi Arabia Facility Management Market
Major Challenges Faced by the Saudi Arabia Facility Management Market
Competition Framework for Saudi Arabia Facility Management Market
Future Outlook and Projections of the Industry, 2021-2026F
Market Opportunities and Analyst Recommendations

For more information on the research reports, refer to below link:

https://www.kenresearch.com/manufacturing-and-construction/real-estate/ksa-facility-management-market-outlook-to-2026/596067-97.html

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