Property Sectors Expected To Lead The Qatar Facility Management Market During The Forecast Period
Urbanization and growing number of projects in real estate are the factors expected to drive the market growth during the forecast period.
According to TechSci Research report, Qatar Facility Management Market - By Region,
Competition Forecast & Opportunities, 2018-2028, the Qatar Facility Management Market is expected to register
robust growth during the forecast period, 2023-2028. Facility Management (FM)
has been on a rise with rapid urbanization as well increasing expenditure on
infrastructure projects. Facility Management find itself useful as it is a
common service required at different sectors whether be it residential,
commercial, or others. With government as well as private projects on a rise,
the owners want to give to themselves and others a world class facility. Facility
Management has been around since long but with time, companies have changed
their model of providing services, introduced new equipment to work with,
providing more safety at the same time while many market players are now providing
integrated services as well, where FM services are consolidated for one team.
By using FM services whenever required, the owners can expect the total life of
the building to increase by few years, also giving the owners the right to use
the facility with minimum disruption without causing any harm to anyone.
Facility
Management has been on a rise in Qatar as government has taken several key
initiatives such as Qatar Vision 2023 and hosting of FIFA 2022 World Cup
resulting in overall rebuilding of the country’s infrastructure and making
changes to their city’s plan. Qatar has also been taking several steps to
increase the FDI in their country also prompting the country to build
commercial centers around Qatar. Many companies see this an opportunity to
increase their workforce and works toward innovation in the Facility Management
Market. FIFA World Cup saw an investment of around USD220 billion and many
projects for Vision 2030 are in billions giving rise to FM players in the Qatar
market.
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over XX market data Figures spread through XX Pages and an in-depth TOC on the "Qatar Facility Management Market"
The Qatar Facility
Management Market is segmented into service, type, industry, end-user, and
sectors. Based on service, the market is divided into property,
cleaning, security, support, catering & others. During
the projected period, the property segment in the service type is expected to
dominate the market during the forecast period of 2023-2028. Owing to industrial and commercial sectors, alongside
easy credit conditions, increasing purchasing power parity, and booming housing
sector are expected to boost demand for property and cleaning services during
the forecast period. Additionally, Qatar plans to diversify its economy into
other sectors apart from oil in the coming years through their Vision 2030.
Moreover, the Qatari government has implemented economic measures and launched
stimulus packages to support the development of various sectors, including the
real estate sector.
Based on type, the market is bifurcated into hard
& soft. During the projected period, the soft segment is expected to
dominate the market during the forecast period of 2023-2028. There has been a significant surge in
demand for Soft FM services, with a particular focus on cleaning services to sanitize office
spaces and adhere to hygiene protocols. Companies are focusing on improving
productivity and optimizing daily operations while reducing energy consumption.
For this reason, soft services facilities management companies are using
automation technology to reduce energy consumption level.
Based
on industry, the
market is bifurcated into organized and unorganized. During
the projected period, the unorganized segment is expected to dominate the
market. Many people are focused on giving only 1 or 2 services having
themselves working or having an assistant with them. Through this, they focus
on only those services which requires less resources and less skilled labor.
Based on end user, the
market is segmented into commercial, residential, industrial, and public
sector. During the projected period, the commercial segment is expected to dominate the market during the
forecast period of 2023-2028. The inflow of investments
from foreign companies in different sectors has positively attributed to the
growing need for offices, boosting the commercial real estate sector. There are
several projects related to Qatar Vision 2030 which focuses on building commercial
& residential towers and hosting the Expo 2023 Doha.
Based on Sector, the market is segmented
into education, healthcare, real estate, banking, hospitality,
housing, and others. During the projected period, the real estate segment is expected
to dominate the market during the forecast period of 2023-2028. The Qatar
government is focused on building many residential and commercial complexes.
Key market players in the Qatar Facility Management Market:
- Emcor Facilities Services Qatar W.L.L.
- Teyseer Services Company WLL (Sodexo Qatar)
- G4S Qatar WLL
- Al-Asmakh Facilities Management
- Al Faisal Holdings (MMG Qatar)
- Galfar Al Misnad Engineering &
Contracting W.L.L
- COMO Facilities Management Services
- OCS Qatar LLC
- CBM Qatar LLC
- Al
Tamyoz Facility Management
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"The increasing
number of infrastructure projects gives rise to the facility management
services. Rapid urbanization has made way for new construction and maintaining
the previous ones thus aligning itself with the demand for the Facility Management
in Qatar. With the country opening its doors for FDI through its Vision 2030
and 2022 FIFA World Cup, there is a huge scope for demand for Facility
Management in the country," said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based global management consulting firm.
Qatar Facility Management Market By
Service (Property, Cleaning, Security, Support,
Catering & Others), By Type (Hard Services and Soft Services), By Industry (Organized, Unorganized), By End
User (Commercial, Residential, Industrial, Public Sector), By Sectors
(Education, Healthcare, Real Estate, Banking, Hospitality, Housing, Others) By
Region, Competition Forecast
& Opportunities, 2018-2028, has evaluated the
future growth potential of Qatar Facility Management Market and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in the Qatar Facility Management Market.
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