The increasing application of facility management in residential construction projects, commercial buildings, industrial projects, and infrastructure projects are driving the growth of the Gulf Cooperation Council (GCC) facility management market. In 2017, the market generated a revenue of $40,210.5 million, and it is expected to witness a CAGR of 10.7% during the forecast period (2018–2023). Facility management services are professional services that cover multiple disciplines in a bid to attain proper functionality of a built environment with the integration of place, people, process, and technology.
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Based on service, the GCC facility management market is categorized into security, property, cleaning, catering, environmental management, support, and others. Out of these, during the historical period (2013–2017), the property category dominated the market in terms of revenue, and it is predicted to maintain its dominance during the forecast period. This is ascribed to the rising number of newly constructed buildings in the region. Under these services, the day-to-day functioning of real estate spaces, such as sales and leasing and planning and designing operations, are handled.
Some of the major players operating in the facility management industry are EMCOR Group Inc., Khidmah LLC, Interserve plc, Musanadah Facilities Management Co. Ltd., Emrill Services LLC., Cofely Besix Facility Management, Imdaad LLC, Farnek Services LLC, United Facilities Management, and Kharafi National.
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GCC FACILITY MANAGEMENT MARKET SEGMENTATION
- Environmental Management
By End User
- Saudi Arabia
- Rest of GCC (Oman and Bahrain)
This post was originally published on Financial Sector