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Property Sector to Dominate the Kuwait Facility Management Market in the Forecast Period

Government initiatives, along with a growing number of projects in real estate, are propelling the Kuwait Facility Management Market growth in the forecast period.

According to TechSci Research report,
Kuwait Facility Management Market - By Region, Competition Forecast & Opportunities, 2018-2028,” the Kuwait Facility Management Market is expected to register a robust CAGR during the forecast period, 2023-2028. Infrastructure development has increased the demand for Facility Management (FM) services. These services are useful in a person's day-to-day life as they are used in residential, commercial, and other sectors. With FM services being taken from time to time whenever necessary, the owner can expect the facility's lifespan to increase by a few more years. The services of Facility Management are being used since many years provided by freelancers but with technology and investment, companies have taken facility management as a business equipped with the latest equipment and technology while providing not one but many services under one company banner. Several services but not limited to cleaning, catering, fire & security system, civil & carpentry work, pest control are a part of facility management. Companies are also providing integrated services where all services are led by a single team making the work with client easier.

Facility Management is expected to be on the rise in Kuwait as the government has taken several key initiatives, such as Kuwait Vision 2035. Kuwait expects to increase urbanization with ongoing projects, and it is expected to increase the Facility Management Market in the country. As Kuwait is expected to increase its land area after Vision 2030, new cities and towns are expected to come up in the country, increasing the market as well as players in facility management. Kuwait also expects to increase itsr FDI in the country with vision 2030 and while also planning to diversify its economy from the oil & gas sector to other sectors such as financial sector and tourism.

Browse over XX market data Figures spread through 70 Pages and an in-depth TOC on the "
Kuwait Facility Management Market"

The Kuwait Facility Management Market is segmented into service, type, industry, end user, sectors, region and competitive landscape. 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.

Based on type, the market is segmented into hard services & soft services. During the projected period, the soft services segment in the type is expected to dominate the market.
Most of the soft services shall be found in all the sectors, whether be it residential, commercial, industrial, as these services are the basic requirement. COVID-19 pandemic has made people focus on the cleanliness of their facilities in order to protect themselves.

Based on
Industry, the market is segmented into Organized, Unorganized. During the projected period, the unorganized segment is expected to dominate the market. Unorganized sector dominates the market as the market is fragmented, and there are a lot of small companies including some freelancers operating in the market. Most of these small companies have only a handful labors and they might not be skilled labors.

Based on
End User, the market is segmented into Commercial, Residential, Industrial, and Public Sector. During the projected period, the commercial segment in the service type held the largest market share. The country is expanding its projects for construction of new buildings and upgrading its existing infrastructure.

Based on
Sectors, the market is segmented into Education, Healthcare, Real Estate, Banking, Hospitality, Housing, and Others. The Real Estate segment is expected to dominate the market in the forecast period of 2023-2028. Under the Kuwait Vision 2035, the country focuses on building a smart city from scratch expecting to reside around 400,000 people.

Key market players in the Kuwait Facility Management Market: -

  • PIMCO Kuwait
  • Kharafi national FM
  • EcovertFM Kuwait
  • Al Mazaya Holding Company KSCP
  • ENGIE Services General Contracting for Buildings Company WLL.
  • United Facilities Management Company K.S.C.C
  • Alghanim International General Trading & Contracting Co. W.L.L. (Falghanim)
  • Al Mulla Group
  • Tanzifco Company W.L.L
  • O&G Engineering W.L.L.

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"An increasing number of infrastructure projects has ensured that Kuwait, an oil-based economy, shall diversify its economy and thus look towards other sectors as a source of income. This, in turn, gives the facility management market an opportunity to grow in the forecast period. The Kuwait Vision 2035 shall make way for new projects in the upcoming period”
said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“Kuwait Facility Management Market
By Service (Property, Cleaning, Security, Support, Catering & Others), By Type (Hard Services and Soft Services), By Industry (Organized and 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 Kuwait 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 Kuwait Facility Management Market.


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