KSA Facility Management Market Outlook, Market Top Players, Market Challenges, Market Trends and Future Outlook to 2029

Why 28% Businesses Shift To Integrated Facility Management Market In KSA

The KSA facility management market has emerged as a strategic player in the infrastructure service market of Middle East. Housing demand with increasing trend towards integrated & professional solutions is growing passage through KSA facility management market. In 2024, nearly 50% of the facility managements services were outsources highlighting the growing demand for such services. The adoption of technologies including AI and IoT has also increased by over 30% year-on-year as reported in early 2024, creating facility management market in KSA a hub of technology and innovation. Furthermore, the mega-projects including NEOM and expansion of the King Khalid International Airport are also shaping the KSA facility management market.

KSA Facility Management Market Emerging Trends
• The demand for smart building management systems is being driven by the increasing use of smart technologies such as automated lighting, IoT-enabled sensors, and predictive maintenance. Almost 60% of Riyadh and Jeddah commercial properties integrated smart technologies as of early 2024.

• KSA's busy hospitality industry is being growing hastily as it is currently working in the direction of visiting 100 million guests each year via 2030 This is driving the growth of market for facility management services in luxury hotels and resorts. The Diriyah Gate project however, will look to encompass facility space of 500,000+ sq meters by 2027.

• The companies are moving from traditional single-servicing enterprises to integrated facility management solutions. By 2024 around 30% of the businesses in KSA adapted in Integrated Facility Management solutions to cut down their expense and make their operations streamline.

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• The country is prioritizing energy-efficiency and sustainability, with aim of net-zero emissions by 2060. In early 2024, approximately 36% of buildings incorporated energy-efficient features allowing facility management companies to offer services like installation of energy-saving systems, energy audits, and waste management.

• The growing mega-projects including NEOM, the Red Sea Project, and the expansion of Riyadh's public transport network are creating opportunities for facility management providers. NEOM has nearly 10,000 workers on-site, generating need for a comprehensive range of services for cleaning, housing, security, and logistics.

KSA Facility Management Market Future Outlook
The future of KSA facility management market looks promising with the market set to witness transforming growth. The market is driven by the country's Vision 2030 goal and increasing integration of advanced technologies. Intelligent energy management systems will also enter the market as more than 80% of commercial and residential properties plan to adopt AI-enabled technologies and information on smart building management solutions till 2029. The Kingdom of Saudi Arabia will spend billions in improving energy efficiency where around 40% of facility management contracts focusing on energy efficient and green practices by 2025 owing to the Kingdom's commitment to achieve "Net zero" emissions by 2060. Furthermore, the increasing mega-projects will also support the demand for facility management. The Red Sea Project is expected to host over 50 luxury hotels and resorts by 2030 leveraging the need for integrated facility management solutions in the hospitality sector.

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Decoding Competitive Landscape
The Kingdom of Saudi Arabia (KSA) facility management market is moderately fragmented with local players and global players fighting to secure their position in the market. in 2024, over 45% facility management services in KSA were outsourced highlighting the growing demand for service providers. The market is dominated by key players including Al Majal Al Arabi Group, Enova, and Ejadah Asset Management Group. In 2024, Al Majal Al Arabi Group implemented AI-powered energy optimization solutions reducing energy consumption by 18% across major facilities. Enova by Veolia recently launched "Green FM" model which led to reduction in energy usage by approximately 25% in over 50 building in Riyadh as of 2024. Ejadah Asset Management Group has adopted IoT-enabled smart facility management systems for majorly retail and residential sector, reporting 30% growth in its Saudi portfolio as of 2024.

Consultant at TraceData research In their latest publication "KSA Facility Management Market Outlook to 2029: By type of facility (Single FM, Bundled FM, Integrated FM), By offering type (Hard FM, Soft FM), and By end use industry (Commercial and Retail, Manufacturing and Industrial, Government and Public Entities, Institutional, Others)" believe that businesses should focus on integrating smart technologies and enhance sustainability driven solutions to gain competitive edge in KSA facility management market.

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KSA Facility Management Market Segmentation: -
By Market Structure:
• Public Facility Management Services
• Private Facility Management Services
• Integrated Facility Management Services

By Types of Services:
• Hard Services
• Soft Services

By Hard Services:
• Electromechanical Services
• Operations and Maintenance
• Others
• Housekeeping
• Security
• Landscaping
• Others
• Commercial
• Residential
• Industrial
• Government

By Soft Services:
By Sectors:
By Applications:
• Office Buildings
• Retail Centers
• Hospitals
• Educational Institutions
• Others

By Region:
• Central Region
• Western Region
• Eastern Region
• Northern Region
• Southern Region

Players Mentioned in the Report:
• Al Majal Al Arabi Group
• Saudi Oger
• Initial Saudi Group
• EMCOR Saudi Company Limited
• Almajal G4S
• SETE Energy Saudia for Industrial Projects Ltd
• Zomco (ZAMIL Group)
• Alinma Facilities Management
• Enova
• Nesma Trading
• Blue Diamond Facilities Management
• Initial Saudi Group
• Ejadah Asset Management
• Red Sea International Company
• Masah Specialized Construction
• Middle East Facilities Management
• Farnek Services LLC
• EFS Facilities Services
• Interserve
• Al Shirawi Facilities Management

Key Target Audience:
• Facility Management Companies
• Real Estate Developers
• Government Regulatory Bodies
• Research and Development Institutions
• Private Equity Firms
• Venture Capitalists

Time Period:
• Historical Period: 2018-2023
• Base Year: 2024
• Forecast Period: 2024-2029

FAQ's

01 What is the potential for the KSA Facility Management Market?
The KSA facility management market is poised for substantial growth, reaching a valuation of USD 5.8 billion in 2023. This growth is driven by factors such as rapid urbanization, technological advancements, and the expansion of the commercial and residential sectors. The market's potential is further bolstered by government initiatives and investments in facility management infrastructure.

02 Who are the Key Players in the KSA Facility Management Market?
The KSA Facility Management Market features several key players, including Al Majal Al Arabi Group, Saudi Oger, Alinma Facilities Management, Enova, and Nesma Trading. These companies dominate the market due to their extensive service portfolios, advanced technological integration, and diverse service offerings.'

03 What are the Growth Drivers for the KSA Facility Management Market?
The primary growth drivers in KSA Facility Management Market include rising demand for energy-efficient solutions, technological advancements, and the expansion of integrated facility management services. Additionally, government incentives and investments in sustainable practices contribute to the market's growth.

04 What are the Challenges in the KSA Facility Management Market?
The KSA Facility Management Market faces several challenges, including a skilled labor shortage, limited access to financing, high operational costs, and infrastructure challenges. Regulatory challenges, such as adherence to stringent environmental and safety standards, can also impact market growth.

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This release was published on openPR.