The Qatari facility management market is expected to witness a CAGR of 8.5% during 2019–2024. according to P&S Intelligence.
The growth of the market is mainly driven by increasing construction activities in the region, owing to the upcoming mega events such as FIFA World Cup 2022, in the country. Facility management refers to professional services covering multiple disciplines, in a bid to ensure functionality of the built structures through the integration of people, place, process, and technology. Also, these services provide safe and clean environments for residents, employees, and building visitors.
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On the basis of service, the Qatari facility management market is categorized into property services (heating, ventilation, and air conditioning (HVAC) maintenance; mechanical and electrical maintenance; and others), cleaning services, security services, catering services, support services, environmental management services, and other services. The other services include reception staffing, utility management, furniture supplies, and contract management.
Property services held the largest share in the facility management industry of Qatar, accounting for more than 25% revenue contribution in 2017. Property services offer various benefits such as decreased tenant turnover, rent collection, short vacancy cycles, low maintenance and repair costs, assistance with taxes, and others. Owing to such benefits, the demand for this service type is growing in Qatar.
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Qatar Facility Management Market Competitive Landscape
Some of the major players operating in the Qatari facility management market are Mosanada Facilities Management Services, Cofely Besix Facility Management, Al-Asmakh Management WLL, COMO Facilities Management Services, OCS Qatar LLC, CBM Qatar LLC, Elegancia Hospitality & Facility Management Services, Al Tamyoz Business Group, Conservo Facility Management Co. WLL, Confident Enterprises WLL, and ASTAD.
QATAR FACILITY MANAGEMENT MARKET SEGMENTATION
- Heating, ventilation, and air conditioning (HVAC) maintenance
- Mechanical and electrical maintenance
- Environmental Management
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This post was originally published on Financial Sector