Saudi Arabia Property Management Market By Component (Solution & Service), By Deployment (Cloud & On-Premises), By End User (Housing Associations, Real Estate Agents, Corporate Occupiers, Property Investors & Others), By Application (Commercial, Residential & Industrial), By Region, Competition, Forecast & Opportunities, 2027

Saudi Arabia Property Management Market stood at USD8.59 billion in 2021 and is forecast to grow at a CAGR of over 7.02% until 2027 owning to the shift of oil-based economy to digital & commercial economy. Moreover, the objectives of Vision 2030 are expected to open many opportunities for the growth of the property management market in the country.

Growth in Real Estate Sector

Saudi Arabia's property management industry is mostly driven by the country's growing real estate sector. The Property Management sector in Saudi Arabia is being driven by strong and stable economic conditions, as well as liberal government programs such as Saudi Vision 2030, which focuses on the development of country's infrastructure. In addition, several significant projects in Saudi Arabia such as Neom, Qiddiya entertainment city, the Red Sea Tourism Project among others are anticipated to increase the demand for property management services in the forecast period in Saudi Arabia. The digital transformation in the kingdom also has the potential of new and highly sophisticated cybercrimes. To overcome this, the country is expected to invest in a more robust and advanced Property Management system. Moreover, the Saudi government is initiating a variety of infrastructure development master plans that will primarily expand the number of commercial and residential facilities around the kingdom, resulting in a plethora of opportunities for property management companies. Some of the city's megaprojects will expand the potential market for Saudi Arabia property management companies if they participate in the master plan's envisioning stage.

Sustainable Smart City Developments

Saudi Arabia's government is working towards construction of smart and sustainable cities to protect the environment and maintain a perfect balance between economic and social development. The property management industry gains from sustainable smart city projects as it utilizes automation and modern data-driven technology for providing property management services. Saudi Arabia intends to transform its cities into smart cities by including sustainability and technological integration into the buildings, which will boost the Saudi Arabia property management market throughout the forecast period.  Saudi Arabia supports the use of environmentally friendly solutions to cut energy consumption and reduce greenhouse gas emissions to ensure the country's long-term development. As a result, the country is concentrating on creating green structures. Green buildings are structures and processes that are environmentally friendly and resource efficient throughout a building's life cycle, from design to construction to operation, maintenance, renovation, and demolition. Property management professionals in Saudi Arabia are well-equipped and capable of ensuring the long-term viability of existing structures. This can lead to a building gaining green building certification at the same time.

Growing Technological Advancement in Property Management

Many corporates are choosing for automated building management systems such as BIM (Building Information Modelling) software, which is realizing increased deployment in the real estate market, because of emerging technical innovations in property management. These administrative tools are designed to help establish and pursue virtual building operations models. The use of the Integrated Workplace Management System (IWMS) to manage real estate assets is also expected to boost the Saudi Arabia property management market. Workplaces in Saudi Arabia have seen a rise in demand for the IWMS. By managing real estate portfolios, maximizing capital projects, enhancing property use, and reducing energy and other operating costs, the system attempts to improve the operational, environmental, and financial performance of facilities. Furthermore, the growing use of cloud computing and government mandates for technical developments in the Saudi Arabia property management market are driving up demand for IWMS.

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Market Segmentation

Based on component, the market can be segmented into Solution & Service. Based on deployment, the market can be divided into Cloud & On-Premises. Based on end user, the market is segmented into Housing Associations, Real Estate Agents, Corporate Occupiers, Property Investors & Others. Based on application, the market can be segmented into Commercial, Residential & Industrial. Finally, regionally the market is sub categorized into Northern & Central, Western, Eastern & Southern.

Company Profiles

Unified Asset & Property Management (UAPM), Ray White International Kingdom of Saudi Arabia, Colliers International (Saudi Arabia), Olaat Properties Management Company, Alandalus Property Company, Property Management and Development Company, SAB Constructions & Properties Company Limited, Al Khozama Management Company, Boualvard Facilities Management LLC, Takamul AlOula Facility Management, Jones Lang LaSalle Saudi Arabia Limited, Century21 Saudi, In4Velocity Systems Private Limited, PropertyNet (KnowledgeNet Group), SolutionDots Systems Ltd., Yardi Systems, Inc., RMS Cloud are among the major market players in the global platform that lead the market growth of the Saudi Arabia Property Management market.

Report Scope:

In this report, the Saudi Arabia Property Management Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Saudi Arabia Property Management Market, By Component:
• Solution

o   Service

·         Saudi Arabia Property Management Market, By Deployment:

• On-Premises

o   Cloud

·         Saudi Arabia Property Management Market, By End User:

o   Corporate Occupiers

o   Real Estate Agents

o   Housing Associations

o   Property Investors

• Others
• Saudi Arabia Property Management Market, By Application:

o   Commercial

o   Industrial

• Residential
• Saudi Arabia Property Management Market, By Region:

o   Northern & Central

o   Western

o   Eastern

o   Southern

Competitive Landscape:

Company Profiles: Detailed analysis of the major companies present in the Saudi Arabia Property Management Market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).