Market Size of GCC Facility Management Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 68.38 Billion |
| Market Size (2029) | USD 118.93 Billion |
| CAGR (2024 - 2029) | 9.50 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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GCC Facility Management Market Analysis
The GCC Facility Management Market size is estimated at USD 68.38 billion in 2024, and is expected to reach USD 118.93 billion by 2029, growing at a CAGR of 9.5% during the forecast period (2024-2029).
The GCC facility management has been experiencing study growth owing to various factors such as urbanization, infrastructure development, and the increasing awareness of the importance of professional facility management services.
- The GCC countries are investing heavily in infrastructure projects, including commercial and residential buildings, airports, hospitals, and shopping malls. As these assets continue to expand, the demand for facility management services rises. The region's economic growth and prosperity have contributed to the rise of commercial and residential properties, which, in turn, has led to a higher demand for facility management services.
- Qatar's growing economy and ambitious infrastructure development plans have created significant opportunities for the facility management sector. Qatar has invested in infrastructure projects in preparation for major events like the 2022 FIFA World Cup. These projects include the construction of stadiums, transportation networks, hotels, and other commercial and residential properties. As these projects are completed, there is an increased demand for facility management services to maintain and operate these facilities efficiently.
- The growing emphasis on outsourcing non-core operations has been a significant driver for the GCC facility management market. As businesses and organizations in the region continue to focus on their core activities and competencies, they recognize the benefits of delegating non-core functions to specialized service providers.
- Facility management companies operating in the GCC are required to have a certain percentage of their workforce composed of local nationals. This can lead to challenges in finding qualified local talent in certain specialized roles, potentially affecting service quality.
- The COVID-19 pandemic resulted in economic turmoil owing to subsequent lockdowns. It also impacted the facility management industry. Contrary to this, the increasing awareness of cleanliness, maintenance management, and security is expected to drive the market study in the coming future. Furthermore, governments in the worst-affected countries, like the United Arab Emirates, are investing in these services.
