Qatar Facility Management Market Size

Qatar Facility Management Market Analysis

The Qatar Facility Management Market size is estimated at USD 6.65 billion in 2024, and is expected to reach USD 10.41 billion by 2029, growing at a CAGR of 9.39% during the forecast period (2024-2029).

Qatar needs more facility management because of the government-led construction boom and the growing focus on green buildings.

• In addition to transportation projects, the government aims to rapidly expand tourism, education, and real estate to maintain its competencies under the Qatar National Vision 2030 (QNV 2030). Further, as the 2022 FIFA World Cup deadline approaches, the region is witnessing a rise in construction activities and is upgrading its infrastructure.
• According to Qatar's Ministry of Finance, Qatar has a budget of 210.5 billion Qatari riyals (USD 58 billion) to complete the infrastructure projects. It is the most significant budget in the last five fiscal years in the Gulf states and follows a year of heavy spending on infrastructure projects.
• According to a Bloomberg report, World Cup-related infrastructure projects are valued at USD 300 billion. In addition to building stadiums specifically to host FIFA World Cup matches, Qatar has been investing in modernizing its infrastructure. The goal is to become more of a transport hub for a significant portion of the globe. Development of airports, upgraded roadways, a more extensive metropolitan network, and emerging cities are the country's top priorities.
• The shift in approach toward building energy-use reductions has led to a change in the roles of FM teams. Even though Qatar is ahead of most countries in the region when it comes to green building practices, the opportunities for FM operators are likely to grow even more as more and more developers and organizations in the country adopt green building practices.
• Further, Qatar's residential, commercial, industrial, and public infrastructure sectors are the most served. The upcoming sectors include oil and gas companies, banks, large waterfront properties, and sports and healthcare facilities. Furthermore, increased awareness among the buyers in the market is prompting facility management operators to match the pricing accordingly.
• In the future, FM operators will likely focus on incorporating technology-based solutions into their everyday operations. By embracing digital disruption, FM operators can collaborate between asset owners, developers, and service providers. Also, to stop the spread of COVID-19 in the area, the maintenance solutions that were already being used are being used for cleaning and sanitizing tasks like wiping down flat surfaces, touch panel displays, and door handles.

Micro- and macroeconomic factors limit market growth. While volatile oil prices are likely to impact the spending levels of end-users, the shortage of skilled labor and increasing labor costs prevent Facility Management companies from reaching their business goals.