Growth of the Facility Management Market in Saudi Arabia

The Saudi Arabia facility management market size is projected to generate a revenue of $76,244.9 million by 2030. The key factors driving the growth of the market are the expanding tourism industry and rise in construction activities in the country. In terms of service, the market is divided into security, environmental management, property, support, cleaning, and catering.

Based on end-use, the Saudi Arabia facility management market is categorized into residential, industrial, and commercial, out of which, the commercial category accounted for the largest revenue share of the market in 2019. The increasing investments in the commercial infrastructure sector and growing government support are leading to the increasing need for facility management services in the country. These services are being widely adopted for the management of large facilities, including shopping complexes, recreational spaces, offices, and theaters.

The expanding tourism sector in the country is leading to the growth of the Saudi Arabia facility management market. The increasing tourism activities in the country are creating need for various services for maintaining a facility, providing security, and catering. In addition to this, the Ministry of Tourism of the country has announced plans for starting a tourism development fund, in June 2020. This will further result in the growth of the market during the forecast period.

Hence, the market is growing due to the expanding tourism sector and rising focus on economic diversification in the country.

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