Qatar's FM market revenue set to top $22.3bn by 2030
CONSTRUCTION NEWS
Qatar's facility management market is poised for solid growth over the next few years with its revenue
likely to surge from an estimated $5.28 billion in 2021 to $22.3 billion by 2030, at a 17.3% CAGR between 2021 and 2030, according to a report by P&S Intelligence.
The strongest reason for it would be the Qatar National Vision 2030, under which Qatar's government seeks to make itself less reliant on the oil and gas industry.
For this, infrastructure is being constructed on a massive scale to support other industries, which will, in time, drive the demand for facility maintenance, it stated.
Some of the mega construction projects underway in this regard are Sheraton Park, Western Green Spine in Doha, Sidra Medical Research Centre, and Education City.
Moreover, the country will host the 2022 FIFA World Cup, which is another key factor propelling construction and infrastructure development activities here. The infrastructure, being constructed with a spending of more than $220 billion, will need to be maintained even after the world cup ends, thus creating a high requirement for facility management.
Among the key findings of the P&S Intelligence study are the Covid-19 pandemic impacted the demand for facility management negatively in 2020 since most industrial and commercial facilities were closed and there were restrictions on the movement of people.
However, since the lifting of the lockdowns, the demand for cleaning services has surged sharply, as the focus of entities and individuals on general hygiene has increased manifold.
Property management services have witnessed the highest demand in the Qatari facility management market till now because they include the essential services that keep the built infrastructure in the optimum working condition.
The outsourced mode of facility management will gain wide popularity in the coming years because it allows industrial and commercial entities to take their minds off these hassles and focus on their core operations.
Commercial users create the highest demand for facility management in Qatar because clean and well-maintained commercial facilities are essential for attracting lessees and visitors.
The biggest Qatari facility management market trend is green buildings, which the government is supporting in order to reduce energy consumption.
The key players in Qatar's facility management services sector are Mosanada Facilities Management Services, Engie Cofely, Al Asmakh Facilities Management, CBM Qatar, Como Facilities Management Services, OCS Qatar, Elegancia Group, Conservo Facility Management, Al Tamyoz Business Group, Sodexo, Facilities Management & Maintenance Company, Amwaj Catering Services Company and Waseef.-TradeArabia News Service
