Saudi Arabia Facility Management Market Trends & Developments

Saudi Arabia Facility Management Market, By Revenues

Figure XX: Saudi Arabia Facility Management Market Revenues (USD Million), 2016- 2026F

CAGR Revenues: XX.XX% CAGR Revenues: XX.XX%

2016 2017 2018 2019 2020 2021F 2022F 2023F 2024F 2025F 2026F

*Charts are dummy not to scale Revenue (USD Million)

Source: MarkNtel Advisors • The growth of Saudi Arabia facility management market during 2016-2020 can be attributed to the adoption of strategic plans by the country in order to diversify its economy and the rising foreign investments in sectors such as tourism, real estate, etc. The rising investments in the country is due to the removal of ownership limits for foreign strategic investors in 2019 along with the adoption of seven Guiding Principles for Investment Policymaking which includes non-discrimination, investment protection, investment sustainability, enhanced transparency, securing public policy concerns, ease of entry for employees, and the transfer of knowledge and technology. These factors impacted the number of greenfield investments in the country which increased from 89 in 2017 to 134 in 2019. Hence, this provided new opportunities for the facility management service providers. Furthermore, the outbreak of COVID-19 resulted in the restriction of movement and thereby reduced the demand for facility management services.