Saudi Arabia Facility Management Market

Saudi Arabia Facility Management Market Size, Share, Growth Analysis, By Service(Hard Services, Soft Services, Other Services), By Industry Vertical(Healthcare, Government, Education, Military & Defense), By Region - Industry Forecast 2024-2031

Report ID: SQMIC20I2266 | Region: Country | Published Date: April, 2024
Pages: 157 | Tables: 65 | Figures: 65

Saudi Arabia Facility Management Market News

  • In June 2023, the Saudi Arabian Ministry of Tourism announced plans to invest USD 4 billion in the tourism sector over the next 5 years.
  • In May 2023, the Saudi government issued a new regulation on the outsourcing of facility management services.
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Saudi Arabia Facility Management Market size was valued at USD 24 billion in 2021 and is poised to grow from USD 25.56 billion in 2022 to USD 42.30 billion by 2030, growing at a CAGR of 6.5% in the forecast period (2023-2030).

The competitive landscape of the Saudi Arabia facility management market is characterized by a dynamic interplay of established players and emerging service providers, driven by the increasing demand for comprehensive facility solutions. A multitude of companies are vying to capitalize on the burgeoning market opportunities arising from the country's rapid urbanization, infrastructure development, and government investments. 'Saudi Oger Ltd. (Oger International)', 'Saudi Binladin Group (SBG)', 'Nesma Trading Co. Ltd', 'Alfanar Group', 'Khidmah', 'Aramark Corporation', 'ENGIE', 'Mace Group', 'Sodexo', 'Al Muhaidib Group'

Saudi Arabia's rapidly growing population is boosting demand for residential, commercial, and public facilities, contributing to the expansion of the facility management market.

Sustainability and ESG Focus: Growing emphasis on Environmental, Social, and Governance (ESG) criteria is driving the integration of sustainable practices in facility management, including energy efficiency, waste reduction, and carbon footprint reduction.

Anticipated to experience a significant surge in growth in the foreseeable future, the Saudi Arabia facility management market is being propelled by the ongoing processes of urbanization and industrialization. A pivotal driver is the governmental commitment to bolstering infrastructure, encompassing the construction of vital transportation nodes such as railways, ports, and airports, among other sectors. To realize these ambitious projects, the government is entering contracts with multiple private contractors, including facility service providers, to ensure the maintenance and sustainability of these infrastructures. As private sector investments are poised to witness a notable upswing in the coming years, the resultant momentum is set to galvanize the facilities management market across the region.

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Saudi Arabia Facility Management Market

Report ID: SQMIC20I2266

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