Qatar’s facilities management market to reach $22.3bn by 2030
7 Feb 2022
Infrastructure and projects built for FIFA World Cup and under country’s National Vision 2030 to drive demand for FM services in future as lifting of lockdowns propels immediate need
Qatar's facilities management (FM) market is projected to see a compounded annual growth rate (CAGR) of 17.3% between 2021 and 2030 and reach an estimated $22.3 billion from its value of around $5.28bn last year, says a new report from P&S Intelligence.
Citing the Qatar National Vision 2030 as the biggest reason for the growth, the report from the Indian market research and intelligence firm said that under the programme, Qatar's government seeks to make itself less reliant on the oil & gas industry, which would lead to massive infrastructure construction to support other industries. This will, in time, drive the demand for facilities maintenance, the report premised.
Listing some of the mega construction projects underway in the country, the report mentioned Sheraton Park, Western Green Spine in Doha, Sidra Medical Research Centre and Education City. Among the biggest upcoming trends in the Qatari FM market is green buildings, which the government is supporting in order to reduce energy consumption, said the study.
Hosting the 2022 FIFA World Cup is another key factor propelling construction and infrastructure development activities in Qatar, the report added. The infrastructure for the mega sporting event, built at a cost of more than $220 billion, will need to be maintained even after the event ends, which will increase the requirement for facilities management.
The report also said that Covid-19 negatively impacted the demand for facilities management services 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 seen the highest demand in the Qatari FM market because they include the essential services that keep the built infrastructure in optimum working condition, the study added. Outsourcing of FM services 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, said P&S.
The biggest demand for FM services in the Qatari market is from the commercial sector owing to the need for clean and well-maintained commercial facilities, essential for attracting lessees and visitors.
The key players in Qatar's FM 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 and Sodexo.